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ExxonMobil acquires 2.5pct stake in the BTC oil pipeline from CIECO

Gasoil News - Published on Wed, 21 Feb 2018

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Reuters quoted an ExxonMobil official as saying that US oil major ExxonMobil has acquired 2.5 percent stake in the Azeri Baku-Tbilisi-Ceyhan (BTC) pipeline from CIECO, a subsidary of Itochu.

Ms Aygun Tanriverdiyeva, an ExxonMobil official in Baku, said that "ExxonMobil became an owner of 2.5 percent stake in the BTC project in November 2017." The company acquired the stake in the project from CIECO," she said without elaborating on details of the deal.

The BTC pipeline company operates the pipeline, which ships oil from Azerbaijan's major Azeri-Chirag-Guneshli oilfields to Turkey via Georgia.

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Posted By : Nanda Koijam on Wed, 21 Feb 2018
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