Russia's oil privatization is more greed than fear

Lukoil would like to take over Rosneft's international projects off Sakhalin Island and seeks after the oil-rich Arkhangelskgeoldobycha -Rosneft's geological subsidiary in the far-north Timan Pechora province.After 7 years of dramatic decentralization and dynamic privatization of Russia's oil industry, the pendulum of oil control has started to move back. However, despite the obvious need for a better-regulated industry and rising state-centric tendencies, liberalization of Russia's oil market seems to have passed the point of no return.Unprecedented clearance saleThe radical reorganization of Russia's oil sector launched in late 1992 and the hasty sale of state oil pr...

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