Total stops pumping its oil via BTC
Edited by Rhod Mackenzie / 2014-06-05 10:58:47
Total will stop supplying oil via the Baku - Tbilisi - Ceyhan pipeline (BTC) in connection with withdrawal from the project for the Azerbaijani Shah-Deniz field development, the pricing agency Argus reports.
On May, 30th, the French company sold its 10% stake in the development project of the Shah Deniz gas condensate field, which is operated by BP, to the Turkish oil corporation TPAO. Market participants estimate the amount of the transaction at $1.5 billion.