'93 Tender Won by Exxon Annulled

[CHIMO]

Raising new fears about foreign investor rights, the government on Thursday canceled the results of a 1993 tender for the Sakhalin-3 gas and oil project that was won by a consortium led by the world's largest oil company, ExxonMobil.

The move also seems to fit into the government's latest drive to strengthen control over the country's natural resources.

"As a major foreign investor in Russia, we would be very disappointed if the decision were taken by the government to re-tender Sakhalin-3," said Glenn Waller, vice president of ExxonMobil Russia. "It would be a violation of our rights and would send a negative signal to foreign investors."


http://www.moscowtimes.ru/stories/2004/01/30/001.html

Oh for an Adam Smith ideal market!

Lots of supply etc...

Oops... supply is not there!

[whatelseisnew]

1. An hour later and no reply? Russia Took Back An Oilfield!

No?

[bemildred]

2. This has been clear for some months now.

Expect more of it.

[acmavm]

3. Geez, how did Bush* miss this when he 'stared into his eyes and saw

Putin's soul'? What a dumb ass.

[whatelseisnew]

4. thanks for the story

kick it goodnight

[Beetwasher]

5. Ahhh, This Was Not Unexpected

Read back to some of my old posts on DU. Russia is going to be making LOT'S of moves like this in the coming future. I'm sure this also goes back and relates to Poppy's trip to Russia recently. Lot's going on and coming. They've been having some serious relations with Saudi Arabia and Iran too. Curiouser and curiouser.

[DUreader]

6. I can't find many outlets covering this

Looks like Forbes has the first report

http://news.google.com/news?hl=en&lr=&ie=UTF-8&edition=us&num=30&newsclusterurl=http://www.rbcnews.com/free/20040129142404.shtml

[DUreader]

7. Power Struggle Over Oil, latest Janes.com Extract

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=104&topic_id=1068790


http://www.janes.com/regional_news/europe/news/fr/fr040129_1_n.shtml




Oil refineries in western Europe have suffered a severe shortage of oil because Russian exports through the
Bosphorus Strait have been drastically reduced in recent days. Turkish authorities say they have cut back
traffic through the narrow waterway from the Black Sea to the Mediterranean because of bad weather and
enforcement of strict regulations governing oil traffic. Really? Foreign Report has another explanation.

The strait is considered to be one of the world's most dangerous waterways when there is bad weather, and
the Turks are paranoid about collisions involving tankers that could cause explosions in the heavily
populated areas around Istanbul. But European oil sources suspect that the slowdown imposed on Russian
oil exports through the strait is part of an effort by the Turkish government to reduce such traffic over time
because it will compete with the US-backed pipeline being laid from the oilfields outside Baku in Azerbaijan,
through Tbilisi, Georgia, to Turkey's loading terminal at Ceyhan on the Mediterranean.


snip, .......more...........