91. Times have been anything but boring for minority investors in the production subsidiaries of the Russian oil majors. 92. Transport costs also would be reduced because Russian refineries can process Caspian oil, allowing Russian oil now consumed domestically to be exported. 93. Until the separate Shell and BP ventures were announced this week, only Atlantic Richfield Corp. of Los Angles had taken a stake in a major Russian oil company. 94. Western oil companies have cited tariffs as one reason deterring them from investing in Russian oil ventures. 95. Western oil companies have cited tariffs as a deterrent to investments in Russian oil ventures. 96. While in London last week, Chubais invited British Petroleum to make a bid for Russian oil companies such as Rosneft. 97. Yet despite decades of effort, the Russian oil industry has tapped only a fraction of it. 98. Yukos has been one of the busiest Russian oil companies in acquisitions. 99. OPEC has welcomed Russian oil production and export cuts but still believes Russia could do more to reduce output. 100. A consortium of Russian oil firms signed last year a deal to develop an oil field in southern Iraq once sanctions are removed. |