Unpredictability of world oil prices impedes construction of Iran-Armenia pipelineJuly 13, 2011 - 18:42 AMT PanARMENIAN.Net - A working meeting on resumption of talks regarding construction of oil pipeline from Iran to Armenia is planned in near future, according to Armen Movsisyan, Minister of Energy and Natural Resources of Armenia. “Construction of oil pipeline depends on a range of factors, namely, unpredictable fluctuations of world oil prices. When oil prices started to fluctuate at world markets, naturally, in this period the Iranian side forbore unless the situation clarified,” the Minister told a press conference in Yerevan. In February 2011, Mr.Movsisyan said that construction of the oil pipeline will start in 2011 and is expected to be finished in 2014. Pipeline operation contract will be concluded for the period of 25 years. Construction of Armenia-Iran pipeline will be funded on both sides, with Armenia allocating $100mln to the project. It will allow Armenia to export oil products both from Iran and the Persian Gulf, a major market for petroleum products. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |