AZERBAIJAN’S OIL EXPORTS
Azerbaijan’s oil exports are predicted to jump 61 per cent to 22.3 million tons in 2006, British oil giant BP’s Baku office said. Nearly all the rise will be the result of a huge boost to exports by the Azerbaijan International Oil Company (AIOC), a consortium of Azerbaijan’s State Oil Company and 10 international oil companies, including BP.
AIOC is expected to export 19.8 million tons of oil next year, most of it through the new Baku-Tbilisi-Ceyhan oil pipeline, which spans the Caucasus region and Turkey, ending at the Turkish Mediterranean port of Ceyhan. This year, the AIOC is forecasting exports of 11.3 million tons.
It has to be mentioned that BP holds a leading 30 per cent stake in the consortium running the pipeline.
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