Middle East Economic Survey

VOL. LI

No 39

29-Sept-2008

CASPIAN

BP Plans Exit From CPC Pipeline

BP is considering two options for disposing of its interest in the Caspian Pipeline Consortium (CPC) that controls and operates the Tengiz-Novorossiysk oil pipeline, Dow Jones reported on 23 September. CPC is Kazakhstans main export pipeline, carrying 85-90% of its crude oil exports. While BP does not export any of its crude through CPC, it holds 6.625% of equity through its 46% interest in the LukArco...