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.
News 
Market Data 
Discover 
