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Achnacarry Oil Agreement

”It was perhaps the most amoral agreement ever drawn up by a group of industrialists. Moreover, the Achnacarry agreement was so secret that it was unknown even to the governments of the main participants. The Big Three (SO of New Jersey, Shell & Anglo-Persian) attempted to reformulate an alliance with European markets in 1930. They tried to make local deals and shared market share with ”outsiders”. Again, the system proved ineffective due to the increase in the quantities of American, Russian and Romanian oil. In November 1932, Sir Cadman spoke with the API (American Petroleum Institute) in favor of ”cooperation within the laws of each country”, and in December 1932, companies arrived with an updated ”As-Is” understanding: ”The Heads of Agreement for Distribution”. Early adopters were Royal Dutch/Shell, Jersey, Anglo-Persian, Socony, Gulf, Atlantic, Texas and Sinclair. However, many contentious issues have been addressed in the new agreement, including chronic fraud and new markets. The companies, which were fierce competitors, always planned new attacks against each other, even if they sought to cooperate. Added to this are permanent conflicts in the implementation of agreements, or even ”the approval of what had been agreed”. The most famous was the secret agreement between Standard Oil of New Jersey (precursor of Exxon), Royal Dutch Shell and the Anglo-Persian Oil Company (precursor of BP) in September 1928. The Baku-Tbilisi-Ceyhan gas pipeline was built to transport crude oil and the Baku-Tbilisi-Erzurum gas pipeline was built to carry natural gas from the western side (Azerbaijani sector) of the Caspian Sea to the Mediterranean, bypassing Russian gas pipelines and thus Russian control.

After the construction of the pipelines, the United States and the European Union proposed to extend them to the east (Kazakhstan and Turkmenistan) of the Caspian Sea through the Trans-Caspian Oil Pipeline Project and the Transcapian Pipeline under the Caspian Sea. In 2007, Russia signed agreements with Turkmenistan and Kazakhstan to connect their oil and gas fields to the Russian gas pipeline system and effectively kill the underwater route. Recently, Venezuela has encouraged the creation of regional oil initiatives for the Caribbean (Petrocaribe), the Andean region (Petroandino) and South America (Petrosur) and Latin America (Petroamerica). Initiatives include support for oil development, investment in refining capacity and preferential oil prices. The most developed of these three is the Petrocaribe initiative, during which 13 nations signed a provisional agreement in 2005. Under Petrocaribe, Venezuela will offer Caribbean countries crude oil and petroleum products on preferential terms and prices, with Jamaica being the first nation to sign in August 2005. . .

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