Middle East Economic Survey

VOL. LII

No 3

19-Jan-2009

CASPIAN

Russias Transneft Looks To Increase CPC Shareholding

Russias state oil pipeline company Transneft plans to expand its equity in the Caspian Pipeline Consortium, operator of the Tengiz-Novorossiysk pipeline. MEES understands that Transneft is looking to buy out the shareholding of Russias Lukoil, once the latter completes the acquisition of BPs shares in the LUKArco joint venture between Lukoil and BP. Last month BP announced its decision...