A deal in which Russia would buy Oman's stake in the Caspian Pipeline Consortium (CPC) could fall apart, the Kommersant daily reported Thursday citing unnamed sources close to the deal.
Kazakhstan, the other major shareholder in CPC - a pipeline shipping Kazakh crude oil to the Black Sea - also wants to buy Oman's 7% stake and has already approved amendments to its own legislation that basically block Russia from completing the deal, the paper said.
Russia and Kazakhstan are the largest shareholders of the pipeline consortium, with 24% and 19% stakes respectively. Oman holds 7% in the consortium. A few major foreign oil companies, including U.S.'s Chevron Corp. (CVX) and Italy's Eni SpA (E), are also among the shareholders.
The CPC is a key export route for oil flowing from Kazakhstan 's giant Tengiz field.