With the world's largest oil and natural gas reserves, second in coal production and eighth largest oil assembly, President Vladimir Putin draws grandiose plan for the country's hydrocarbon reserve encouraging drilling and investment plans aimed at further development. Private investments, domestic or foreign is however, a big no-no, rather state government plays the steward to Russia's energy patrimony or to say 'serve the national interest'.
"Hydrocarbons are an extremely important sphere of our potential cooperation" Putin says in an interview "but I would like to stress: we are already cooperating in the electric power, primarily engineering for the electric power sector".
Given today's high oil prices, state government sounds positive to funding new projects. Additionally, Indian and Chinese government shows willingness to do business with Russian companies with their investment criteria more in line with the approach favored by their Russian hosts. Putin further stressed state government to have larger share while a meager chunk gifted to private investors mainly in electricity sector.
The post Cold-War relics witnessed Russian industries as highly inefficient, combined with under-nourished investment opportunities and mismanagement dominating the sector; of which petroleum poised to have a serious impact overall. Further huge infusion of capital, technology and negligent exploration management hit the production to a record-low and decline. This is return could have foiled Putin's plan and country's national honor.
Putin must recognize that to put back the country's faltering image, he needs a petroleum sector with well-managed and well-capitalized oil, gas and pipelines. Russia's oil and gas industry being the backbone to the country's economy generate fifty percent of the total revenues and taxes and most of foreign exchange, need balanced combination of public and private governance.
A faltering Russian oil sector would be a disaster for the world economy as well as for Russia itself.
Rahul Ghosh, working as freelance industry analyst working is a regular contributor and has written many articles and commentaries on diversified industry sectors. For further discussion with the writer, email at rahulghosh@rediffmail.com
Rolling Meadows Cadillac Escalade rental .. Lockport Chicago limo O’HareHello! Happy new year. May you live a long healthy... Read More
It appears we are having a terrible situation with the... Read More
We are destroying our freedoms and slowing innovation, due to... Read More
When organising a country or a group of people in... Read More
Much of our personal and cultural perspective on the world... Read More
With respect to the States' databases, you may not locate... Read More
Tonight I resigned myself to the fact that this is... Read More
The US Homeland Security is worried about Hydrofoil or Skimmer... Read More
In order to build a stronger, more self-sufficient America, America... Read More
In the most rewarding new industries, there is often a... Read More
The paper industry in the US is hurting. Due to... Read More
Down The Bush and BlairBy now everyone, except us, is... Read More
Is Starbucks a monopoly? It fits all the definitions. Does... Read More
Well we have certainly been reading a lot about prison... Read More
Having redundancies and today's technologies in transportation we have protected... Read More
We are told by out leadership that we risk loss... Read More
The US-backed Road Map peace plan had no real chance... Read More
Possible UAV materials are infinite: Foam, Composite, Balsa Wood, Plastic,... Read More
Having been to every city in the country over the... Read More
For a short time I worked as a union officer... Read More
A friend of mine, who lives in the thick of... Read More
Here is an interesting thought; Corn to make Plastic An... Read More
I've been thinking again. I know some of my readers... Read More
Today we wish to examine a fallacy, or error in... Read More
This is no time for the Black community to sue... Read More
Des Moines rental limo ..I heard on the news this week how America continues... Read More
In order to build a stronger, more self-sufficient America, America... Read More
Rufus King: (Said to be the fifth most important person... Read More
As more and more cities and states set up websites... Read More
Hitler received a legacy from his Rothschild relations in Vienna... Read More
Regarding the issues with the Space Shuttle and the in... Read More
As the death toll in the avalanche-hit Jammu and Kashmir... Read More
30 years ago, California, later followed by other states, decided... Read More
You are not going to believe what is going on... Read More
Indian and Pakistan and nuclear war. What does the world... Read More
There is nothing-absolutely nothing-insofar as political power when it is... Read More
Do you find it interesting that people complain about the... Read More
China is serious about breaking into the bio-tech field and... Read More
Those of us hundreds of miles from ground zero sat... Read More
Down The Bush and BlairBy now everyone, except us, is... Read More
We learned some lessons in these last few wars. For... Read More
..."history may judge us to be the real bully if,... Read More
(Note: This article was written slightly before the 2004 election;... Read More
All government regulators or diplomat who are in high risk... Read More
As global warming continues to escalate the concerns of today's... Read More
In the most rewarding new industries, there is often a... Read More
With pain rocking through my whole body today, I cast... Read More
You say, you want to help the Palestinians, but most... Read More
What has really changed in the housing market with regards... Read More
In many reports we see that the Federal Trade Commission... Read More
Political |