Middle East Economic Survey


No 40



BP To Sell Kazakh Assets, Chevron Announces Tengiz Output Hike

BP confirmed on 1 October that it had decided to sell all the interests it inherited in Kazakhstan as a consequence of its mergers with Arco and Amoco. BP holds, via its LukArco joint venture with Russias Lukoil, a 5% share in the TengizChevrOil (TCO) consortium, which covers the bulk of Kazakhstans crude oil production. BP also has a 12.5% interest in the Caspian Pipeline...