Baku-Tbilisi-Ceyhan oil pipeline unprofitable for TurkeyDecember 26, 2009 - 14:28 AMT PanARMENIAN.Net - The Baku-Tbilisi-Ceyhan project is unprofitable for Turkey, the Turkish "Vatan" newspaper wrote, referring to a secret report sent by the BOTAS company to the commission of the Grand National Assembly of Turkey. The latter examines the work of state enterprises and the Supreme Control Office of the Cabinet of Turkey.According to the report, BOTAS has suffered 210 million dollars losses within 3 years from the Baku-Tbilisi-Ceyhan project and if the current contract is not changed, the losses will increase. The Commission held a closed meeting on December 9 at the Turkish Grand National Assembly. BOTAS International LTD suffers losses for 2 reasons. First, contracts do not contain any guarantees of the volume of exported oil. Second, due to increased prices for gas BOTAS also suffered losses. BOTAS requires from BTC Co. guarantees of supply of agreed volumes and denominated stable gas prices. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Ameriabank's Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC Ameriabank received the awards from international financial institutions in recognition of its trade finance operations. Armenian Economy Minister to make trip to UAE May 20-22 A delegation led by Minister of Economy Gevorg Papoyan will travel to the UAE capital of Abu Dhabi on May 20-22 Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. |