Yukos Priobskoye project litmus test for foreign investment in Russian E&P

Turning around Russia's oil industry poses challenges as huge as that nation's alluring potential must seem to the foreign majors that would pursue investment there.For some companies, the frustrations have been partly self-inflicted, say leaders of Russia's emerging group of major oil companies that have adopted some western-style management practices. For leaders such as Yukos CEO Mikhail Borisovich Khodorkovsky, there is a comparable level of frustration with prospective foreign investors that entered the Russian market with inadequate preparation and preconceived notions (OGJ, Feb. 21, 2000, p. 23).Nevertheless, companies such as BP Amoco PLC and ExxonMobil Corp. have, wit...

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