Royal Dutch Shell Plc  .com Rotating Header Image

Reuters: Korea’s KNOC to buy 20 pct stake in Azeri INAM

Tue Aug 28, 2007 7:47AM BST

BAKU, Aug 28 (Reuters) – Korean National Oil Company (KNOC) will buy 20 percent in Azerbaijan’s undeveloped oil project INAM following oil major Royal Dutch Shell’s (RDSa.L: Quote, Profile, Research) decision to cut its stake, an Azeri official said on Tuesday.

Energy Minister Natik Aliyev told reporters the project would remain under the leadership of BP (BP.L: Quote, Profile, Research), which has a 25 percent stake, while Shell would reduce its stake to 5 from 25 percent.

Azeri stake state oil company SOCAR would continue to own a 50 percent stake.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “Reuters: Korea’s KNOC to buy 20 pct stake in Azeri INAM”

Leave a Comment

%d bloggers like this: