pipeline

Hungary's prime minister says he is hopeful that talks over a pipeline that would transport natural gas from the Caucasus to Western markets will resume smoothly soon.

An agreement between China and Russia on a pipeline from Siberia to supply oil to China's northeast has raised expectations that the long-delayed project will finally go ahead.

The drugmaker Eli Lilly & Co. says it has agreed to buy biotechnology company ImClone Systems Inc. for more than $6 billion in a deal that would expand its pipeline of cancer treatments.

Oil company BP PLC says it has shut down a pipeline that runs through Georgia as a precautionary measure, but says that it is unaware of any Russian bombing of pipelines in the region.

A British Petroleum official says a fire on a Turkish section of the Baku-Tbilisi-Ceyhan pipeline has disrupted the flow of oil.

Workers at the Ineos Grangemouth refinery started their 48 hour strike yesterday causing the closure of the Forties pipeline which carries approximately 30% of the UK's daily fuel output and generates £50 million of revenue a day.