Most of Kazakh oil to be shipped across Russia

Most of Kazakh oil will be exported across Russia. This was announced by Kazakhstan’s President Nursultan Nazarbayev when meeting Russian Head of Government, Vladimir Putin, RIA Novosti reports. Exports will be mostly increased through expansion of the North Caspian pipeline (aka CPC) up to 67 million tons a year. “Which means that most of Kazakh oil will be transported across Russia”, President Nazarbayev said. In his turn, Vladimir Putin answered that Moscow was ready to develop north Caspian oil field on parity basis. “The oil field where the Russian side started working proved to be rich, but at the “Kazakh” oilfield exploration works didn’t prove earlier estimates… Despite that, we will keep the word. And we will be working on parity basis”, Mr. Putin said.