Expectations of sustained Russian oil production boom justified

In the aftermath of the Soviet Union's collapse in 1991, oil production--the great majority of which was Russia's--nosedived, triggering the former Soviet Union's "lost" decade of the 1990s. Now, Russia has begun a comeback, as domestic oil production is constantly on the increase and regularly making the headlines. Consequently, at present, Russia clearly stands among the most promising areas for hydrocarbon ventures. Not content with being merely the new champion of oil exporters outside the Organization of Petroleum Exporting Countries,1 Russia is about to challenge Saudi Arabia for the top spot in the world of oil.In support of that speculation–and although the supergiant fields...

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