Russian oil companies improve operational standards

Click here to enlarge imageRussian oil companies continue to improve operational and financial efficiencies despite low levels of direct foreign investment (DFI, Table 1).While higher oil prices have increased cash flow and relatively lower inflation rates have reduced costs, much of this success can be attributed to new organizational structures, the introduction of modern business practices, and an emphasis on technology management.1 Click here to enlarge imagePartial proof can be seen in the audited financial statements of select companies OAO Lukoil, OAO Sibneft, and OAO Yukos whose 1999 return on assets improved by 13 percentage points, 6 percentage points, and 31 percentage point...

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