New markets, business models key to future Russian oil production increases

This is the second of a two-part series updating the status of Russia's oil sector.The ability to expand domestic and foreign markets, not limited access to working capital, will determine oil production in the Russian Federation within the next 5 years. This is the view of Mikhail Khodorkovsky, CEO of OAO Yukos, Moscow, as presented at the Cambridge Energy Research Associates' annual executive conference in Houston Feb. 13 and in a subsequent interview with OGJ.Khodorkovsky also believes that, if Western companies come to understand the economic conditions that are now reshaping Russia's petroleum industry, they may yet find profitable ways in which to operate in Russia. "Som...

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