Macedonia, Greece turn on pipeline. (International Highlights).

With plenty of fanfare, Macedonian and Greek officials turned on the taps July 2 on a new oil pipeline between the Greek city of Thessaloniki and the Macedonian capital of Skopje. The officials called the pipeline a "starting point for new investment in the region," including the possibility

The pipeline's principal investor, with an 80 percent stake in the enterprise, is the largest industrial company in Greece, Hellenic Petroleum. The Macedonian government controls 20 percent. The pipeline cost $110 million to build and is the biggest energy project in the Balkans. It is 214 kilometers long, and a total of 2.5 million tons of crude oil per year will be transported from the Hellenic Petroleum plant in Thessaloniki to the OKTA refinery in Skopje.