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ExxonMobil Acquires 2.5 Percent Stake in the BTC Oil Pipeline


February 19, 2018

BAKU (Reuters) – U.S. oil major ExxonMobil (XOM.N) has acquired 2.5 percent stake in the Azeri Baku-Tbilisi-Ceyhan (BTC) pipeline from CIECO, a subsidary of Itochu (8001.T), an ExxonMobil official said on Monday.

“ExxonMobil became an owner of 2.5 percent stake in the BTC project in November 2017,” Aygun Tanriverdiyeva, an ExxonMobil official in Baku, told Reuters.

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

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

Reporting by Nailia Bagirova and Margarita Antidze; writing by Margarita Antidze; editing by Vladimir Soldatkin



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