Date: Wed, 30 Oct 2002 10:41:23 -0800 (PST) |
Subject: azerbaijan to turkey to an SUV
oil in the caucasus region?
i was astonished to see just how small chechnya is
relative to the whole of russia (0.094%).
here is an interesting map of the caucasus as of 1994
which shows energy resources, courtesy of the state
an article from pravda.ru from 10/15/01 about oil in
world oil production statistics, courtesy of dept of
world oil consumption stats:
at the bottom of this email i have pasted a list of calculations i did concerning certain countries' oil reserves as of 1/1/01 as a percentage of oil consumption in 2000. the results are not surprising: generally those countries that hoard oil are on bad terms with the US, whereas generally those countries that do not hoard oil are on good terms with the US - as for which is the cause and which the effect, that i cannot calculate.
hypothesis: russia wants chechnya for its proximity to and possession of oil. the US obviously shares russia's interest in oil in the region (see below).
ConocoPhillips to Buy Part of Pipeline
BAKU, Azerbaijan (Reuters) - Oil major BP said on Wednesday it will sell a 2.5 percent stake in the Baku-Ceyhan oil pipeline project from Azerbaijan to Turkey, to U.S. energy company ConocoPhillips.
BP, which is leading the $2.95 billion plan to build a one million barrel per day link by 2005 to ship Caspian crude to the Turkish Mediterranean coast, will keep 30.1 percent in the project and remain its operator, the firm said in a statement.
"We welcome ConocoPhillips' entry into the project as a further demonstration of its significance as a major future oil export route from the southern Caspian," the statement quoted the head of BP Azerbaijan David Woodward as saying.
ConocoPhillips' representative in Baku-Ceyhan David Bairrington said in the statement: "The Caspian is of strategic importance to ConocoPhillips and we believe that our participation in the BTC project will further enhance our upstream portfolio in the region."
The U.S.-backed Baku-Ceyhan link was long dismissed as too costly and lacking oil, but the project received a boost this year when BP said the group of giant Azeri fields held more reserves than previously believed and enough to fill the link.
Shortly after the announcement French TotalFinaElf joined the project, while Japan's INPEX also decided to team up with the consortium in September, when construction works begun.
The consortium now includes Azeri state oil firm SOCAR with 25 percent, U.S. group Unocal with 8.9 percent, Norway's Statoil with 8.71 percent, Turkish TPAO with 6.53 percent, ENI and TotalFinaElf each with 5.0 percent, Japan's Itochu with 3.4 percent, INPEX with 2.5 percent and Saudi Arabia's Delta Hess 2.36 percent.
ConocoPhillips is involved in one Azeri offshore oil exploration project, Zafar-Mashal, led by U.S. supermajor ExxonMobil.
oil reserves as of 1/1/01 as a percentage of oil consumption in 2000. there is a telling pattern.
last updated: 10.30.2002