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