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Odessa American in Odessa, Texas

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This newspaper page contains 3 articles. Subscribers can read the full text of each article.

Newspaper

Odessa American

Location

Odessa, Texas, United States of America

Date

May 26, 2005

Page

9

Caspian oil pipeline opens first section to world markets

Officials unveiled the Baku Tbilisi Ceyhan project in Sangachal with a Bush letter and leaders from Azerbaijan Kazakhstan Georgia and Turkey present. The 1100 mile pipeline runs from Azerbaijan through Georgia and Turkey to the Mediterranean port of Ceyhan, bypassing Russia and avoiding several turbulent regions. BP led the consortium aiming to diversify oil supply and reduce dependence on Middle East routes.

Azerbaijan Kazakhstan Georgia Turkey Baku-Ceyhan Sangachal Bush Caucasus Washington Baku Iraq Mediterranean Ceyhan Russia Armenia Iran Syria Nagorno-Karabakh Caspian Basin Energy Samuel Bodman

Durable goods orders rise led by transportation equipment

Durable goods orders climbed 9 percent in April, marking the best showing since November and lifting total orders to 200.3 billion dollars. Excluding transportation, orders fell 0.2 percent. New home sales also reached a record annual rate of 1.316 million, up 0.2 percent, with a median price of 230,800 dollars.

Washington USS Commerce Department

Exxon to Invest Cautiously Amid Oil Market Pressures

Exxon Mobil plans no rapid ramp in exploration or new U S refineries despite high fuel prices and falling output. Chairman Lee R Raymond said the Irving Texas firm will maintain a careful investment pace as energy prices remain uncertain. Production should rise later this year with new wells online while shareholder votes rejected eight social and governance proposals.

Dallas Exxon Mobil Corp U.S Lee R. Raymond Raymond Exxon Irving Texas United States

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