NEWSWATCH: “Despite Sanctions, Russia’s Oil Industry Powers On” – Wall Street Journal/ Bradley Olson, Jay Solomon

Oil Well file photo

“Exxon Mobil … is suffering from sanctions on Russia. The same can’t be said for other big Western energy companies, or for Russia’s oil production. … sanctions, put in place by the U.S. and European Union in 2014 after Russia’s annexation of the Crimea region of Ukraine, were meant to limit Russia’s pursuit of new technology for extracting more crude oil […]

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Putin’s Reliance on American Commerce Has Never Been Greater

File Photo of Boeing 747, adapted from image at navy.mil

(Bloomberg – bloomberg.com – Jake Rudnitsky, Ilya Arkhipov – June 15, 2016) U.S. becomes Russia’s No. 5 partner as trade war hits EU worse Boeing, Cargill, Yum! lead U.S. companies expanding in Russia President Vladimir Putin loves to reel off statistics, but here’s one he may not trumpet at his annual investment forum in St. Petersburg this week: Russia’s reliance […]

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Are The E.U. And Asia Turning A Blind Eye To Russian Sanctions?

Mercator Projection Satellite Image of Earth

(Oilprice.com – Robert Berke – July 8, 2015) In a previous article on Oilprice, I questioned whether western sanctions imposed on Russia were being regularly breached by E.U. and Asian companies, noting that sanctions only work if all countries unite behind them. In June, the Financial Times reported that only one year after being imposed, the sanctions are eroding. It […]

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Russian Energy Review in 2012: Consolidating State Control in an Uncertain Market

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(Eurasia Daily Monitor: Volume 10, Issue 10 – Jamestown Foundation: jamestown.org – Margarita Assenova – January 18, 2013) Increased state control and consolidation of the oil and gas sector marked Russia’s energy developments in 2012, while the state budget remained heavily dependent on energy revenues. At the same time, Russia’s markets in Europe are shrinking due to the economic crisis […]

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PM Medvedev Says Corrections in TNK-BP Deal Possible

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MOSCOW, November 29 (RIA Novosti) – Russian Prime Minister Dmitry Medvedev said corrections are possible in the recently inked deal on the purchase of Russia’s third largest crude producer TNK-BP. Russia’s largest oil company Rosneft announced in October it had reached agreements to buy 100 percent of TNK-BP from British oil major BP and the AAR consortium of Russian billionaire […]

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TNK-BP Deal a Boon for State, Welcome Sign for Foreigners

Oil Well file photo

(Moscow Times – themoscowtimes.com – Anatoly Medetsky – October 23, 2012) Rosneft’s deal to take over TNK-BP masterfully achieves the dual purpose of strengthening the state’s hand in the oil industry to spectacular proportions and showcasing its benevolence to foreign capital at the same time. Officially confirmed Monday, the gradual $56 billion purchase of the country’s third-largest crude producer will […]

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