BAKU, Azerbaijan, November 2. The Baku-Tbilisi-Ceyhan Pipeline Company (BTC Co.) spent about $86 million in operating expenditure and $25 million in capital expenditure over the first three quarters of 2023, a source at bp told Trend.
As such, in the reporting period, BTC Co. increased its operating expenditure by 16.2 percent year-on-year ($74 million in 2022), while capital expenditure grew by 47 percent, compared to the first three quarters of 2022 ($17 million).
Meanwhile, since operation launch in 2006, BTC pipeline carried a total of about 4.2 billion barrels (about 554 million tons) of crude oil loaded on 5,482 tankers and sent to world markets. This is an increase of 7.1 percent, compared to the volume reported over the first three quarters of 2022 (3.93 billion barrels).
At the same time, the 4 billion barrels of oil export milestone was achieved on January 18, 2023, bp added.
The Baku-Tbilisi-Ceyhan Pipeline Company (BTC Co.) shareholders are: bp (30.10%), SOCAR (25.00%), MOL (8.90%), Equinor (8.71%), TPAO (6.53%), Eni (5.00%), TotalEnergies (5.00%), ITOCHU (3.40%), INPEX (2.50%), ExxonMobil (2.50%) and ONGCVidesh (2.36%).
