Academic journal article The Middle East Journal

Chronology: Petroleum Affairs

Academic journal article The Middle East Journal

Chronology: Petroleum Affairs

Article excerpt

2001

July 20: The Organization of Petroleum Exporting Countries (OPEC) announced that it would reduce the output of oil in order to shore up crude oil prices. [NYT, 7/21]

July 24: Amid threats from an Iranian naval vessel, British Petroleum (BP) suspended its work in the southern Caspian Sea area, where it had been exploring under a concession from Azerbaijan. Iran considers the southern part of the sea its own. [7/25, NYT, FT, WSJ]

Aug. 4: Russia called on Iran and Azerbaijan to settle their dispute over Caspian oil through negotiations and direct dialogue. [8/5, FT]

Aug. 16: Russia cut its gas sale to Ukraine from 80m cubic meters a day to 50m cubic meters a day because Ukraine was behind on payments. The Ukranian government said that it had met its payment deadlines. [8/17, FT]

Aug. 21: A dispute over tariff payment held up the final agreement over a projected gas pipeline from Azerbaijan, through Georgia, to Turkey. [8/22, FT]

Aug. 25: Judy M. O'Connor, the World Bank Director for Georgia, sent a letter to Georgian President Eduard Shevardnadze asking him to negotiate higher tariffs for the proposed gas pipeline from Azerbaijan to Turkey. …

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