Russia's new pipelines will debottleneck exports, production

Last year, Russia became the world's No.1 producer of crude oil (7.7 million b/d) and the world's second largest oil exporter (3.8 million b/d), having left behind all major oil suppliers, except Saudi Arabia.The events of Sept. 11, 2001, emphasized Russia's potential role as a new alternative source of massive oil supplies, which seem politically more acceptable than those from the terrorism-prone Middle East. Does this widespread perception reflect the reality?Can Russia really press Mideast oil exporters off the market or is it just wishful thinking of ignorant politicians? Surprisingly, answers to those questions lie in the further development of Russia's oil pipelines...

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