Russian and Kazakh Oil Exports Via Caspian Pipeline Rise 24%
Russian and Kazakh oil exports via the Caspian Pipeline Consortium jumped by 24 percent in March, compared with a year earlier, as the result of an expansion in pipeline capacity.
CPC exports rose to 32.7 million tons in 2013 from 31.8 million a year earlier and plans call for further expansion of the pipeline's capacity to 40 million tons this year.
Although it traverses Russia and was developed in conjunction with the Russian government, the pipeline was the first to give the Caspian Sea region and Kazakhstan a viable alternative to more Russian-dominated northern export routes.
The CPC consortium involves Russian state-owned pipeline monopoly Transneft, the state of Kazakhstan, U.S. oil company Chevron and Russia's LUKoil. (Reuters)
Government Restricts Australian Beef Imports
Russia is restricting imports of Australian beef due to the presence of the stimulant Trenbolone, the state veterinary and phytosanitary service, or VPSS, said Tuesday.
Limits on chilled beef from Australia were imposed March 31, while frozen beef imports will be restricted from April 7, said VPSS spokesman Alexei Alekseenko.
"Basically this will mean restrictions on all [beef] imports [from Australia]," Alekseenko said, adding that Russia would accept supplies which were already on their way.
Russia is looking to Asia to compensate for a decrease in meat supplies from the U.S., theEuropean Union and Australia. It may allow Chinese pork and Indian buffalo meat imports, VPSS said in March. (Reuters)
For the Record
Russia GDP Grew 2% in Q4 2013
Russia's gross domestic product grew by 2 percent year-on-year in the fourth quarter of 2013, the Federal Statistics Service said Tuesday, up from growth of 1.3 percent in the third quarter. (Reuters)