BTP Pipe Offline for One to 2 Weeks

ANKARA, Turkey -- The Baku-Tbilisi-Ceyhan pipeline, which is still ablaze after an explosion, may not reopen for another one to two weeks, a senior source at Turkey's state-owned pipeline company Botas said Thursday.

Stocks at the Ceyhan depot, which had been used to keep the 1-million-barrel-per-day pipeline flowing, have run dry, the source said, following the explosion Tuesday night.

Opened in 2006, the pipeline is the first to carry large volumes of Caspian crude without going through Russia.

The Botas source said the fire could take two more days to put out, while the repair of the pipeline would take one to two weeks. Kurdish separatists claimed responsibility for the blast that caused the blaze and helped to push oil prices higher. London Brent crude rose Thursday by around $1 on supply concerns.

The $4 billion pipeline pumps the equivalent of more than 1 percent of world supply from fields in the Azeri sector of the Caspian Sea.