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Investing.com -- The Caspian Pipeline Consortium (CPC) disclosed on Friday that it has been fined 200,000 roubles ($2,370) by a Russian court due to irregularities in oil transhipment. Despite the imposed fine, the court decided that the export terminal facilities located at the Black Sea should continue to operate without suspension.
The CPC, which is responsible for the transportation of oil via pipeline, was penalized for not following the appropriate procedures during the transhipment of oil. The fine imposed by the court is a consequence of these irregularities.
However, the court’s decision did not include the suspension of the consortium’s export terminal facilities. These facilities, located at the Black Sea, are vital for the transportation of oil to various international markets. The court’s ruling allows these operations to continue, ensuring that the oil supply chain remains uninterrupted.
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