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Article: Azerbaijian Picks Exxon Over Iran for Oil Deal
- Article from:
- The Washington Post
- Article date:
- April 11, 1995
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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The former Soviet republic of Azerbaijian has given a U.S. oil
company, instead of Iran, a stake in a multibillion-dollar Caspian
Sea oil deal, U.S. Deputy Energy Secretary William H. White said.
The decision to choose Exxon Corp. over the National Iranian Oil
Co. came after the U.S. government and Western oil companies opposed
an offer by Iran to purchase a 5 percent stake in the consortium.
With the addition of Exxon, the international consortium now
includes five U.S. companies, with Amoco Corp. holding 17 percent,
the largest stake among them. BP Petroleum PLC of Britain also holds
17 percent.
"The U.S. persuaded the American companies to basically veto
Iran's 5 percent," said Lawrence ...