Thu, 19 Nov 1998: Lukoil looks at Latvian pipeline project…



Latvian and Western companies would get another 40 percent, and the European Bank for Reconstruction and Development will hold the remaining 10 percent. Kogan stressed that, before the implementation is started, several issues still had to be settled, including the land one, where the new pipeline will be built.He reminded that oil output in Russia is on the decline given the lowering of oil prices on the world's market and Russia's joining the OPEC's agreement on reducing oil output.Janis Blazevics, president of construction company Rietumu Caurulvadu Sistema, predicted the new pipeline project could start in two years. . ... Read the rest of this entry »

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