“Loaded the first cargo of crude oil from the Karachaganak Field in Kazakhstan at Russia’s Black Sea port of Novorossiysk. This represented the first shipment of Karachaganak production through the Caspian Pipeline Consortium export pipeline that provides access to world markets.” (press release pdf p. 2).
Production down four percent, but price up 35 percent: “Internationally, the average liquids price was up 35 percent to $32.48 per barrel….Worldwide oil-equivalent production, including volumes produced from oil sands and production under an operating service agreement, declined about 4 percent from the 2003 second quarter.” (p. 3).
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