Business July 1, 2008, 23:34

Oman plans to leave Caspian pipeline project

Oman is reportedly planning to pull out of the Caspian Pipeline Consortium which pumps oil from Kazakhstan to Russia's Black Sea coast. The sultanate’s government said it was not making enough profit from the project and wanted to sell its 7% stake. It comes as the Kremlin is set to tighten its grip on Central Asian oil supplies.