Arco Pulls Out Of Azerbaijan痴 Southwest Gobustan Concession
Arco of the US has pulled out of the Southwest Gobustanconcession in onshore Azerbaijan. The move was prompted by Arco痴 impendingacquisition by BP Amoco, the company said, adding that the onshore field wasnot part of the BP Amoco plan. Arco obtained a 40% holding in SouthwestGobustan when it acquired Union Texas Petroleum last year. That holding hasbeen transferred to its partner in the contract,...