BP to transfer BTC pipeline operations to SOCAR in July
BP will hand over operation of the BTC oil pipeline to Azerbaijan's SOCAR on July 1. The transfer follows a contractual obligation and BP will retain its stake.
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BP PLC will transfer operations of the 1 million barrel-per-day Baku-Tbilisi-Ceyhan (BTC) pipeline to Azerbaijan's SOCAR on July 1.
The pipeline has moved Caspian oil to the Mediterranean since 2006, bypassing Russia and Iran.
