VOL. XLI

No. 08

23-February-1998

FSU

CPC Agrees On 1998 Budget While Chevron And Shell Sign Caspian Energy Deal

The Caspian Pipeline Consortium (CPC) approved a 1998 budget on 18 February during anextraordinary shareholders meeting in Moscow. No management changes were made during themeeting despite previous grumblings by western shareholders (MEES, 9 February), butnew working procedures designed to boost efficiency were agreed, according to CPCspokeswoman, Natalya Krasnova. The company has yet...