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  • 2022 December 8 14:46

    Total dividends paid by CPC-R this year to exceed RUB 66 billion

    In accordance with CPC-R Shareholders Meeting’ Resolution the Caspian Pipeline Consortium will pay its next tranche of dividends to the Company’s Shareholders on 27-30 December 2022. 23.27 billion rubles will be distributed among the Consortium’s participants subject to the requirements of the withholding tax legislation of the Russian Federation. Hence, the total dividends paid by CPC-R this year will amount to 66.09 billion rubles. 

    As a reminder: CPC Finance Policy provides for quarterly accrual of dividends on the Company shares. Payout amount basis is determined by the Company’s profit less CAPEX and OPEX, as well as any existing new major projects.

    As a note, the Russian Federation President’s Decree No. 95 dated 05 March 2022 established a temporary procedure for fulfillment by residents of their credit, loan and financial instruments liabilities to foreign lenders related to hostile foreign states, the list of which was approved by the RF Government’s Resolution. Such liabilities shall be settled in Rubles through a type C bank account to be opened by a foreign lender in its name with a Russian credit institution recommended by the resident.

    Decree No. 95 authorized the Ministry of Finance and Bank of Russia to issue permits to residents to fulfill the aforesaid liabilities directly in a foreign currency in accordance with the previous procedure, i.e., without using the type C bank accounts.

    CPC foreign Shareholders may receive dividends in foreign currencies without using the type C accounts, subject to appropriate regulatory approvals, following the established procedure.

    CPC Pipeline System is one of the major investment projects with foreign capital in energy sector in the CIS. The length of the Tengiz – Novorossiysk pipeline is 1,511 km. This route transports over two-thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including those in the Caspian Region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor weather conditions.

    CPC Shareholders: Federal Agency for State Property Management represented by Transneft (trust management) – 24%, CPC Company – 7%, KazmunayGas – 19%, Kazakhstan Pipeline Ventures LLC – 1.75%, Chevron Caspian Pipeline Consortium Company – 15%, LUKARCO B.V. - 12.5%, Mobil Caspian Pipeline Company– 7.5%, Rosneft-Shell Caspian Ventures Limited– 7.5%, BG Overseas Holding Limited– 2%, Eni International N.A. N.V. S.ar.l. – 2% and Oryx Caspian Pipeline LLC – 1.75%.




2023 February 1

17:31 Ports of Stockholm cargo volumes decrease from 9.1 to 8.9 million in 2022
17:16 I/B Arktika escorted LNG tanker Eduard Toll along the Northern Sea Route
16:57 Port Saint John recieves two new post-Panamax cranes to the container terminal
16:10 Zero VAT rate to be set for ship repair yards investing in production development
15:44 DSME contracts TMC for BW LNG’s carriers
15:24 The Drewry Global Port Throughput Index up by 0.8% in December, but 1.6% lower year-on-year
15:04 KSOE wins 2.53 tln-won order for 12 methanol-fueled container ships - Yonhap
14:47 Aleksandr Masko appointed as General Director of Port One JSC and Transportation Assets Management LLC
14:32 KENC receives contract for design and build of lifting frame for US offshore wind projects
14:08 POSCO International breaks ground for 2nd LNG Terminal in Gwangyang, Korea - BusinessKorea
13:55 Nuclear-powered container carrier Sevmorput to make two round voyages between Saint-Petersburg and the Far East in 2023
13:21 Russia boosts LNG exports to Europe by 20% in 2022 – Refinitiv
13:02 Port of Los Angeles releases draft request for proposals on cruise terminal development
13:00 Russian Railways' network loading in January 2022 fell by 4.8% YoY to 99.2 million tonnes
12:41 Ningbo Containerized Freight Index decline in January 2023
12:13 Long-term ocean freight rates drop by 13.3% in January - Xeneta
11:58 Ministry for the Development of the Russian Far East and Arctic calls on facilitation of border crossing for RF-flagged cruise ships
11:42 PALFINGER awarded a contract by KNRM for twelve custom-built Rigid-Hulled Inflatable Boats
11:17 New Norwegian consortium plans develop a complete hydrogen value chain for Northern Xplorer AS first zero-emission cruise ship
10:49 7 berths to be repaired in the port of Makhachkala by the end of Q2’2023
10:41 Equinor leaves the Barents Blue project as agreement period ends
10:09 OSM is the first Greek ship owner and manager to partner with the Global Centre for Maritime Decarbonisation
09:31 MAN Energy Solutions signs MoU with SH Defence
09:17 FESCO dispatches a batch of electric cars from China to Russia for the first time
09:05 Capacity to increase on the main trade routes in 8 weeks post-Chinese New Year - Sea-Intelligence
08:06 SITC announces the delivery for M/V “SITC ANHE”

2023 January 31

18:02 NSSLGlobal wins coveted UK Ministry of Defence contract
17:28 Marubeni implements the first large-scale offshore wind power project in Japan at Akita Port and Noshiro Port
17:22 Total throughput of Chinese sea and river ports in 2022 climbed by 0.9% YoY
17:16 World’s oldest cruise ship sold for recycling - TradeWinds
17:10 King Abdullah Port registers 3.25% in container, 143% in break bulk and 108% in agri bulk in 2022
16:57 AMSA releases compliance strategy for next four years
16:31 January 2023 sees record-breaking fall in long-term container rates for ocean freight
16:25 Two sister vessels to join MISC’s eco-efficient LNG carrier fleet
15:24 WinGD and CMB.TECH co-develop large ammonia-fuelled engines
15:06 First cargo ship handled at Lugaport terminal in the port of Ust-Luga
14:45 Titan to retrofit two LNG carriers for bunkering in Europe - Ship & Bunker
14:13 Hapag-Lloyd revenues up to USD 36.4 billion in 2022
13:40 Oboronlogistics’ Sparta IV completed yet another voyage to the port of Tartus
13:24 Incident at the Pacific Entrance of the Panama Canal is under control
12:38 Economic efficiency of technologies for repair of hydraulic engineering facilities to be covered at dedicated event
12:15 Port of Valencia traffic decreased in all sectors in 2022
11:45 European Commission proposes $45/bl price cap for Russian fuel oil
11:42 Saint-Petersburg Governor signs law on ‘tax cash back’ for stevedoring companies
11:20 Four new Pacific International Lines container ships to benefit from integration of Wartsila solutions
11:05 IMO agrees draft revised Guidelines for the reduction of underwater noise from commercial shipping
10:54 ABS approves Bassoe Technology’s D-Floater floating wind foundation design for world’s largest turbines
10:34 Parliament vote positive step towards competitive ship finance in Europe - ECSA
10:14 NYK and Ghelia form business and capital alliance
09:59 Sevmash performs maintenance service of fourth-generation submarines
09:26 RF Government approves procedure for implementation of presidential order on measures in response to oil price cap

2023 January 30

18:37 Shell announces Executive Committee and Directorate changes
18:07 Biden-Harris administration announces more than $380 mln in grants to modernize ferry services
17:53 Port of Aberdeen welcomes Minister for Industry and Investment Security Nusrat Ghani
17:42 Boskalis acquires EUR 120 million contract for development and climate adaptive measures for Gulhifalhu in the Maldives
17:31 Euronav filed an application request for arbitration on the merits in relation to Frontline’s termination of the combination agreement
17:21 First Australian coal cargoes since end of ban to enter China in Feb - Reuters
17:08 Cemre Shipyard chooses NES for twin hull SOVs
16:47 ArcelorMittal Belgium and North Sea Port are to build the North-C Circular industrial estate on ArcelorMittal's Ghent site
16:29 Keppel O&M and Sembmarine merger transaction get SGX approval