COMMENT DECREE TO CHANGE SHAPE OF RUSSIAN OIL INDUSTRY

Sheldon Stoughton Vice President Energy Merchant Bank Bankers Trust Co. London A decree just approved by Russian President Boris Yeltsin sets out the proposed new shape of the Russian oil industry. Essentially, the industry is to be divided among four holding companies: Rosneft, Yukos, Surgutneftegaz, and Lukoil. Each of these holding companies is to be loosely integrated, with a stake in exploration and production as well as refining and distribution enterprises. Rosneft is also likely

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