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Timothy Smith

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Timothy Smith

Re: maverick one post# 5034

Friday, 09/18/2015 11:36:26 AM

Friday, September 18, 2015 11:36:26 AM

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BP (BP -2.3%) is expected to continue as operator of the ACG oil field complex after the current production-sharing deal expires, according to Azerbaijan state oil company Socar.

The comments signal a thawing in BP’s relations with the Azeri government, after the president three years ago blamed an unexpected decline in oil output from the ACG fields on “grave mistakes” by BP.

BP gets ~5% of its oil output from Azerbaijan; others in the ACG development group include Chevron (CVX -2.6%), Exxon (XOM -2.7%) and Statoil (STO -2.4%).

More DD on our commodity board come over if you would like.

Purely My Own Opinion. Do Your Own Due Diligence.

“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty

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