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Words
in the News
Wednesday 28 November 2001
Vocabulary from the news. Listen to and read the report then find
explanations of difficult words below.
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Russians and Americans open new pipeline
Summary: A major new pipeline linking the oil fields of Central Asia with the Black Sea has been opened by Russian and American energy officials. The pipeline reduces the Russian government's control over Central Asia's oil wealth. This report from Bill Hayton:
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The
News 
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The Tengiz-Anapa pipeline is the first to directly link Kazakhstan's oil riches with the open sea and it decisively weakens Moscow's grip on Central Asia's oil reserves. Until now, Kazakh oil was sent along routes controlled by the Russian state-owned company Transneft, which set quotas and prices.
Now the Caspian Oil Consortium - an alliance of three governments and eight oil companies - will make those decisions collectively. Although the Russian state owns the largest share in the consortium - 24% - its influence will be moderated by the energy companies whose oil will actually be pumped along the pipeline.
The oil reserves around the Caspian Sea are at least as large as those of the North Sea, or the United States. The problem has always been how to get it to consumers. At least six routes have been considered and while Russia has been keen to maintain its pipeline monopoly, the United States has promoted routes which, as far as possible, are free from its rivals' control.
BILL HAYTON, BBC, LONDON
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The
Words
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riches
a plural noun describing something that may provide large amounts of money
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the open sea
here, waters that have access to the world's oceans
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set quotas
decide on a limited amount of something (in this case oil)
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consortium
a group of people or organisations that have agreed to work together
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collectively
together
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be moderated
if something is moderated, it becomes less extreme
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actually
an adverb which is used to emphasise that something is true
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at least as large as
probably larger than
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to maintain its monopoly
to keep complete control over something
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has promoted
if you promote something, you try to encourage it to succeed
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Read
more about this story |
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Other Words in the News archives
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