ECONOMY


NEW TURKISH OIL PIPELINE

Representatives of Turkey, the United States and Kazakhstan intend to build a new pipeline in Turkey in order to bypass the Bosporus Straits.

The link should have a daily capacity of up to 1 million barrels per day and should transport Russian crude to the Mediterranean Sea.

The $500 million project is also of high interest for Russian oil majors, mainly Yukos and Lukoil, which are looking for ways to export more crude to the US.

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