RealNews

Russia upper house ratifies Balkan oil pipeline deal

Russia’s upper house of parliament ratified a March 15 deal with Greece and Bulgaria Friday to build a pipeline across the Balkan states to supply oil further to Europe, the U.S. and the Asia-Pacific region. “The document outlines guidelines for the countries’ cooperation in building and maintaining the oil pipeline, whose initial capacity was set at 35 million metric tons of oil a year (257 million bbl) and could eventually be increased to 50 million metric tons (367 million bbl),” Iyas Umakhanov, a senior member of the Federation Council said. Full Story

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