Baku, Azerbaijan, July 20
By Rufiz Hafizoglu – Trend:
Assets of the Turkish Petroleum Corporation (TPAO) will be transferred to the balance of the Turkish Petroleum International Company Ltd. (TPIC), which is a part of the BOTAŞ Petroleum Pipeline Corporation (BOTAS), says a message posted on the website of Turkey’s Resmi Gazete (Official newspaper) July 20.
According to the message, all inventories, cars, drilling machines, ships are to be transferred to the balance of TPIC.
Along with this, TPIC also receives all the foreign and local licenses for exploration and use of oil and oil products.
The Turkish Petroleum Corporation was established in 1954 and is one of big oil companies in the world. TPAO has a 6.53-percent stake in the Baku-Tbilisi-Ceyhan (BTC) oil pipeline.
TPIC was founded in 1988.
BOTAS was created by the Turkish Petroleum Corporation in 1974 under the decision of the Turkish government. BOTAS is engaged in trade and transportation of gas since 1986.
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