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Oil find sends exporters scrambling

Country Monitor, 2000-05, Vol.8 (20), p.5

Copyright Economist Intelligence Unit May 24, 2000 ;ISSN: 1528-4530 ;EISSN: 2048-4607

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  • Title:
    Oil find sends exporters scrambling
  • Subjects: Competition ; Exporters ; Forecasts ; Petroleum industry ; Pipelines ; Politics
  • Is Part Of: Country Monitor, 2000-05, Vol.8 (20), p.5
  • Description: A discovery by BP Amoco (UK) of major gas reserves in Azerbaijan's Shah Deniz field last year eased many worries that Caspian energy riches were more wishful thinking than geological fact. Now a rumored major discovery of oil in Kazakhstan should put all doubts to rest. And as with the Shah Deniz find, it looks set to change the dynamics of Central Asian energy politics. The prospect of a world-class find, not to mention oil prices riding at the top of the OPEC price band at present has cheered oil investors and Kazakh officials alike. But the most immediate results of the discovery will not be the profits. Instead the find will further complicate regional energy transport politics. A major discovery would make the proposed $2.4bn Baku-Ceyhan oil pipeline - a US pet project that cuts Russia and Iran out of the Central Asian transport game - economically viable. Lining up investors for the construction of the pipeline should become much easier in the light of this latest discovery.
  • Publisher: New York: The Economist Intelligence Unit N.A., Incorporated
  • Language: English
  • Identifier: ISSN: 1528-4530
    EISSN: 2048-4607
  • Source: ProQuest Central
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