Russian, US interests pledge cooperation on energy sector

10/06/2003
At an energy summit in St. Petersburg late last month, Russian and US oil companies assured each other that the two countries still have a bright economic future together. But nagging concerns over tax structure and related laws quelled expectations that new major equity deals could be imminent. OAO Lukoil board member Dick Matzke Click here to enlarge image"Don't hold your breath," said Dick Matzke, former vice-chairman of ChevronTexaco Corp. and now a board member of OAO Lukoil. Wall Street analysts had been anticipating that both ChevronTexaco and ExxonMobil Corp. would submit initial bids for a 25% stake in the embryonic Russian megamajor Yukos-Sibneft—the product of a me...
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