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Russia Increases Its Stake in Pipeline

Friday, November 7, 2008 
The Russian government increased its share of a strategically important pipeline that ships Central Asian oil to Western markets, buying out Oman’s 7 percent holding in the Caspian Pipeline Consortium after a dispute over tariffs and plans to expand the route’s capacity.

Besides Russia and the government of Kazakhstan, other partners in the pipeline include ChevronBPExxon Mobil, Shell and the Russian companies Rosneft and Lukoil. It was built to ship oil from the Tengiz field to the Black Sea.

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