Lukoil, Rosneft Wary Over Russian Oil Policy

European oil companies operating in Russia have poor reserve valuations due to the Russian policies over oil. Russia has focused on preventing the depletion of its reserves, and thus the country’s legal framework that surrounds the oil and gas exploration industry discourages growth.

Russia’s oil and gas sector is burdened with high taxes and export duties. In the face of immense pressure from oil and gas giants, export . . .


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