Restructuring, consolidation top solutions for Russia's major oil companies' woes

How does a country with such a vast natural resource base as Russia find itself on the verge of fiscal and economic insolvency? A pumpjack, shown in supergiant Samotlor oil field in Western Siberia, is operated by Nizhnevartovskneftegaz, a subsidiary of Russian oil major Tyumen Oil Co. Russia's oil majors could face a period of restructuring and consolidation as they cope with integration with world markets and the country's fiscal woes. Photo by Mikhail Dychliuk.Click here to enlarge imageWill the Russian oil and gas sector ever attract the large-scale financing required to develop its infrastructure and a capital base to allow the industry to achieve levels of international com...

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