Oh things are about to get real interesting, we just opened up petroleum energy infrastructure in Russian territory and Russia now wants to make a deal in our back yard with Hugo
1. Pipeline From Kazakhstan Officially Opens ALMATY, Kazakhstan--Investors and high-ranking officials from Kazakhstan, the United States, and Russia on 27 November quietly celebrated the grand opening of the Caspian Pipeline Consortium’s (CPC) 900-mile pipeline. The oil route runs from Tengiz in western Kazakhstan to the Russian Black Sea port of Novorossiysk, skirting trouble spots--including the current conflicts in Chechnya and Afghanistan--and opening the door to the energy-rich and sometimes volatile Caspian Sea countries. “With the start of the CPC pipeline, Kazakhstan now has a reliable and effective system of transporting its petroleum to the world market. It will also increase the efficiency of the movement of crude oil,” Vladimir Shkolnik, the Kazakh deputy prime minister and the energy and mineral resources minister, said at the ceremony.
2. SANGACHAL, Azerbaijan - With speeches and a letter from President Bush, officials Wednesday opened the first section of a 1,100-mile pipeline that will carry Caspian Sea oil to Western markets, a project seen as an economic and political boon for the troubled Caucasus region.The $3.2 billion U.S.-backed project also realizes several crucial goals for Washington, including reducing dependence on Middle Eastern oil and the need to use Russian pipelines to ship oil westward.The presidents of Azerbaijan, Kazakhstan, Georgia and Turkey were on hand for the ceremony at the Sangachal oil terminal, about 25 miles south of Azerbaijan's capital, Baku.
3. Vagit Alekperov, CEO of Russia’s largest private oil company Lukoil said on Wednesday, May 25, that his company hopes to sign a $1 billion production contract with Venezuela’s state oil company Petroleos de Venezuela by the end of this year. “We’re discussing a number of projects in the Orinoco River basin fields,” Alekperov, quoted by Reuters, said at an investors’ conference in New York. He said the company was also interested in Venezuelan offshore energy production. Fresh from a visit to state oil company Petroleos de Venezuela in Caracas, Alekperov said he expects a visit from PDVSA officials next month in Moscow. Lukoil wants to invest up to $1 billion in oil projects in Venezuela, the world’s fifth largest oil exporter.
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