UK: Minister Says British Firms Interested in Azerbaijan Refinery
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Friday, 14 October 2011 |
British companies are keen to be involved in the construction of a planned oil refinery and petrochemicals complex in Azerbaijan, according to Charles Hendry, UK Minister of State for Energy and Climate Change. "Great Britain is interested in investing in the reconstruction of existing oil refineries or the construction of a new refinery and petrochemicals complex in Baku's Garadag District," he said to local reporters in Baku. “The projects present great opportunities for us and in future we will focus attention on investment issues."
Hendry pointed out that Britain is a major player in the country, and that over 50% of its Foreign Direct Investment was from UK firms. BP has invested 20 billion pounds sterling in Azerbaijan to date and is expecting to invest another 20 billion pounds sterling in future. As a result, pipeline infrastructure will be extended and security issues concerning oil and gas production improved," he said.
PetrolWorld 17102011
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