With oil companies, Russia seeking control plus capital

Gabe Collins, Naval War College, Newport, RIRussia is taking a pragmatic new approach to the control of its energy resources. It is establishing new hybrid national energy companies, with state-owned PetroKremlin becoming an entirely new model of national energy company.Because Russia is the world’s next energy superpower, it is crucial for consumers to clearly understand the evolving, unique structure of its energy industry.Russia will not follow the OPEC path of 100% state-controlled companies. Instead, it will permit foreign investors to own up to 49% of the state companies through means such as the upcoming initial public offering (IPO) for state-owned oil and gas firm OAO Rosne...

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