CNPC shelves China-Kazakhstan oil pipeline

One of China's major state oil companies has decided to postpone its plan to build a pipeline to move crude oil from Kazakhstan to northwestern China, citing insufficient reserves in Kazakh- stan's Uzen and Aktyunbinsk oil fields to justify the pipeline's construction.The projected commercial crude oil production from these fields avalable for the pipeline is estimated at less than 7.6 million metric tons/year (152,000 b/d), far below the pipeline design capacity of 25 million tons/ year (500,000 b/d).China National Petroleum Corp., the sole investor and prospective operator of the pipeline, has informed its Kazakh counterpart of the project's economic infeasibility. The o...

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