OMRI Daily Digest I, No. 67, 4 Apr 95

From: "Demetrios E. Paneras" <[email protected]>

CONTENTS

  • [01] AZERBAIJAN SELLS PART OF SHARE IN OIL CONSORTIUM.

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    OMRI DAILY DIGEST

    No. 67, Part I, 4 April 1995

    TRANSCAUCASIA AND CENTRAL ASIA

    [01] AZERBAIJAN SELLS PART OF SHARE IN OIL CONSORTIUM.

    Azerbaijani President Heidar Aliev met in Baku with the vice presidents of Exxon and Turkey's State Oil Company TPAO on 3 April to sign an initial agreement on the sale to each company of 5% of Azerbaijan's 20% share in the international consortium that is to exploit three Caspian oil fields, Interfax and AFP reported. The sale must be endorsed by the Azerbaijani People's Assembly. An earlier plan to fund Azerbaijan's share in the consortium by selling a 5% stake to Iran has apparently been shelved, possibly in response to US pressure. Unidentified senior Azerbaijani government officials told Interfax that Azerbaijan is still considering the use of Russian pipelines to export crude oil to the Tikhoretsk Black Sea terminal should it prove impossible to raise the necessary funding to build an alternative export pipeline through Turkey. -- Liz Fuller, OMRI, Inc. [As of 1200 CET] Compiled by Victor Gomez

    This material was reprinted with permission of the Open Media Research Institute, a Prague-based nonprofit organization.

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