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General News    H3'ed 9/2/21

Political background to the development of oil and gas production in Azerbaijan

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235 companies from the USA are registered in Azerbaijan as a contractor of state projects. Since 1995 hundreds of American companies based mainly in Texas have been providing materials, technologies and services to the oil industry in Azerbaijan.

British Petroleum, a transnational oil and gas company headquartered in London, has the largest share in Azerbaijani projects. Exxon Azerbaijan Limited, Chevron Texaco and Amerada Hess hold 22%. More than 16% - in the Baku-Supsa oil pipeline, and 2.5% - in the Baku-Tbilisi-Ceyhan oil pipeline.

At the same time, the State Oil Fund of Azerbaijan (SOFAZ), that aims to manage oil windfall profits and invests $6.5 billion in the US economy and $16.5 billion in financial securities.

Azerbaijan made a deal with the West in order to resolve the Nagorno-Karabakh issue in its favor.

For 23 years, Azerbaijan has given over 75% of the oil produced to foreign investors and allowed them to earn hundreds of billions of dollars. According to Levon Ter-Petrosyan, Texas lobbyists helped Azerbaijan to withdraw Nagorno-Karabakh from the OSCE Minsk Group negotiations and determined the fate of the region in advance. On the one hand, Baku already did not have the money and technology to develop the reserves. On the other hand, the development of oil and gas production allowed Baku to receive a serious source of income, that in any case would play a role in the fate of Karabakh.

Perhaps admission to oil and gas projects was not a condition for the approval of military operations. But, as you know, with the money received from the sale of oil and gas, Baku re-equipped the army and prepared for war. Thanks to the Caspian oil, the economy of Azerbaijan is 4 times larger than the Armenian one.

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Aram Manukyan Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

an American journalist with expertise in the history and politics of Caucasus region

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