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. Last Updated: 07/27/2016

Caspian Oil Resumes




MOSCOW -- Russia has resumed pumping oil from Azerbaijan's rich Caspian oil fields after a pipeline failure, Itar-Tass reported Monday.


The pipeline linking Azeri oil fields with Russia's Black Sea port of Novorossiisk, which was shut down for technical reasons a week ago, started working again Sunday. The shutdown was the second this month.


An international consortium exploring Azeri oil has expressed concern about the pipeline's repeated failures. It said oil shipments from Baku to Novorossiisk were 120,000 tons behind schedule in the first quarter of this year alone.