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WATCHING THE WORLD: Old bear, new teeth

09/03/2007
If you think Russia is a trustworthy supplier of crude oil and natural gas, think again. That’s especially necessary after recent reports that Russia has slashed oil supplies to German refineries, underlining concerns in Europe and around the globe.On Aug. 24 Russia’s OAO Lukoil, the country’s second-largest oil producer, said supplies to Germany had been reduced by about one-third in July and August, but the firm refused to explain why the reduction had taken place.Reports cited analysts who said Lukoil’s decision not to provide contract quantities of oil could be aimed at extracting higher prices from German refineries. Then again, the move could be part of Lukoi...
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