War Threatens Key Pipeline For Crude Oil
BY GUY CHAZAN AND BENOIT FAUCON
Word Count: 584 | Companies Featured in This Article: BP
The conflict in Georgia is placing grave doubt on the country's reliability as an energy corridor bringing Caspian crude to global oil markets.
Some 1.2 million barrels of oil a day flow through Georgia, 1.4% of global crude supply. Attacks could send shockwaves through the world-wide supply chain. Alarm was triggered over the weekend by reports that Russian planes had bombed near a pipeline, Baku-Tbilisi-Ceyhan, or BTC, which brings 850,000 barrels of oil a day from Azerbaijan's Caspian oilfields through Georgia to the Turkish port of Ceyhan on the Mediterranean Sea.
Commissioned in 2005, the BTC has enormous strategic significance ...
Tuesday, 12 August 2008
Posted by Britannia Radio at 14:59