Russian resurgence

Maureen Lorenzetti, Washington, DC / maureenl@ogjonline.comThe Russian government is showing increasing confidence that it can rely on domestic oil companies to expand the country's role as a key world exporter. The most recent evidence of that came last month when Prime Minister Mikhail M. Kasyanov proposed that his country limit future production-sharing agreements and related tax guarantees with foreign investors to large, capital-intensive projects. By all accounts, the proposal is still far from becoming law. It must be voted on by the Russian legislature, a process that could take months or years. By then the world oil supply picture may have dramatically changed; one big factor...

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