Watching the World: Russia's running PSA tribulations

The red thread running through the presentations made by western oil companies at the recent Russian Economic Forum in London spelled out three letters: PSA. The issue of a Russian-model production-sharing agreement was at the heart of speeches by Scott Kerr, CEO of BP PLC's Russia-Kazakhstan unit, and Rein Tamboezer, president of Shell E&P Services unit in the Russian Federation. Both executives anticipated another Royal Dutch/Shell man's undisguised views on this central stumbling block obstructing foreign oil industry investment in Russia.To unlock Russia's vast undeveloped hydrocarbon reserves and modernize its infrastructure, said Royal Dutch Petroleum Co. Pres. Jeroen va...

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