Joint ventures in the Russian oil sector: rocky marriages?

An Update On Joint Venture In Russia The principal vehicle of foreign participation in Russia's oil industry has been joint ventures among Western oil companies, service companies, and Russian producers. Despite a lack of reliable production-sharing agreement legislation, an unsure investment climate, and domestic political opposition, Western companies have entered into JVs within Russia based primarily on the promise of the vast hydrocarbon reserve base in Russia. JVs have been allowed in Russia ever since the waning days of the Soviet Union, when the government recognized the value of foreign investment in Russia's oil sector. Ho...

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