May 02
As I mentioned in my blog entry of February 23, 2006, Russia’s economy is booming. This is largely due to increasing revenues from its oil and gas industries. So high-profile are these industries that foreign investors and energy companies are aggressively getting in on the action. ConocoPhillips, for example, owns a 17.1 % stake in Russian oil giant Lukoil and Royal Dutch Shell has a prominent stake in Russian oil and gas. But the Russian companies themselves are on the march: Gazprom recently bought Sibneft to become the world’s second largest oil company in its sector after Exxon Mobil.
Continue reading »
