TIRANA, Albania — With the price of crude oil having recently hit $70 a barrel and energy markets staying hungry, two trans-Balkan pipeline projects are competing to bring Caspian oil to the West. Russia, Greece and Bulgaria signed an agreement for the construction of a Bourgas-Alexandroupolis pipeline on Sept. 4, and a rival Albania-Macedonia-Bulgaria pipeline is on the drawing board. Since the collapse of the Soviet Union, oil companies have devoted vast amounts of capital to developing the oil and gas reserves of the Caspian Sea region. The total oil reserve of the region, estimated at above 200 billion barrels, […]
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With the death of a leading human rights activist in prison last week, Turkmenistan has left no doubt that the widely derided personality cult of the country’s President-for-life Saparmurat Niyazov and his iron-handed tactics are anything but a laughing matter. Family members identified the body of Ogulspur Muradova, who died only three weeks after being sentenced in a widely condemned trial. Authorities initially denied Muradova’s family access to the body while insisting they sign off on a death certificate. Access was granted only after the family sought out the help of foreign diplomats. After viewing the corpse, family members reported […]
Six weeks in hell — or, more precisely, in Helmand Province in southern Afghanistan. That sums up the brutal fighting endured by the NATO troops who took over from U.S. troops in the area at the end of July. But while British, Canadian and Dutch troops have had an unexpectedly hot reception, pleas from the area British commander calling for other NATO countries to “pull their weight” and commit 2,500 more troops to the southern war have fallen on deaf ears. Though 1,000 more Polish troops were announced last week as “on way” to the region, it had nothing to […]
After the collapse of the Soviet empire, the Caspian states of Azerbaijan and Kazakhstan generated a great deal of excitement because of their oil and gas fields, about which little was known. Despite falling oil prices, uncertain reserve sizes and a non-existent legal framework, an extraordinary volume of international investment poured into the region in 1997 and 1998. By 1999, more than 20 oil exploration contracts were signed in Azerbaijan alone, representing more than $30 billion in long-term capital investment and some $2.5 billion in committed investment. It was widely expected that the poorly explored, but high-potential Caspian oil reserves […]