BP decides to quit stake in Caspian pipeline

BP decides to quit stake in Caspian pipeline
# 20 October 2008 16:02 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. BP is to complete negotiations on the sale of its stake in the Caspian pipeline that pumps Kazakh crude to the Black Sea.
Russia’s LUKOIL is interested to take the stake worth $500 million to $700 million.
BP said last month it may sell its stake in the Caspian Pipeline Consortium (CPC) if it fails to agree with Russia on terms for expanding the line, Reuters reports.
Another consortium member, Gulf Arab state Oman, has also said it was looking to sell its stake. Russia and Kazakhstan have both expressed interest in buying Oman’s 7 percent stake.
Besides BP, LUKOIL and Chevron, with 15 percent, its private shareholders include Royal Dutch Shell, ExxonMobil and Russia’s largest oil company, Rosneft.
CPC has been shipping oil since 2001 and pumps up to 750,000 barrels per day to Novorossiisk for re-export to the Mediterranean.
1 2 3 4 5 İDMAN XƏBƏR
#
#

THE OPERATION IS BEING PERFORMED