Azeri Prez Slams BP For 'False Promises' On Caspian Sea Oil

Law360, New York (October 11, 2012, 7:13 PM EDT) -- Azerbaijan's president blasted BP PLC on Wednesday for allegedly making "false promises" on oil production missing output target for three years, comments that could put the energy giant on shaky footing as it plans a $25 billion expansion of an offshore drilling project in the former Soviet republic.

In a speech to his cabinet, President Ilham Aliyev accused the BP-led consortium — which includes Chevron Corp., ExxonMobil Corp. and five other international oil companies —  of “grave mistakes” that caused a drop in production at the...
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