Saturday, July 28, 2012
WikiLeaks cables: BP accused by Azerbaijan of stealing oil worth $10bn
Embassy cables reveal president alleging 'mild blackmail' being used by firm to secure rights to develop Azeri gas reserve
The president of Azerbaijan accused BP of stealing billions of dollars of oil from his country and using "mild blackmail" to secure the rights to develop vast gas reserves in the Caspian Sea region, according to leaked US cables.
Ilham Aliyev said the oil firm tried to exploit his country's "temporary troubles" during a gas shortage in December 2006. In return for making more gas supplies available for domestic consumption that winter, BP wanted an extension of its lucrative profit-sharing contract with the government and the go-ahead to develop Caspian gas reserves, one cable from the US embassy in Baku reports. Aliyev also threatened to make BP's alleged "cheating" public, cables show.
The leaks reveal the extent of the company's power over Azerbaijan's government.
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