17-03-04 The fees for oil transportation via the system of the Caspian Pipeline Consortium will be raised by 3.3 % to $ 27.19 per ton by July 2004, the general director of the consortium declared. The general director pointed out that the increase was due to a decline in the US dollar rate.
At the same time he underlined that this did not mean changing the consortium's policy on tariffs, but it was just a necessary adjustment to be made in accordance with an agreement between the shareholders in the Caspian Pipeline Consortium.

The major shareholders in the consortium include Russia (24 % of the shares), Kazakhstan (19 %) and Oman (7 %).
The main private shareholders are Chevron Caspian Pipeline Consortium (15 %) and LUKArco (12.5 %).