Comments on: Why Russia's Oil Fields Will Soon Be Crawling with Westerners

By: thomas condron

thomas condron — Fri, 25 Dec 2009 17:16:18 +0000

whats comment based on

By: todd

todd — Sat, 19 Dec 2009 04:28:27 +0000

Russia is just another OIL COLONY for the West and China in the East.

Within 10 years the Russians will be importing oil and Putin will be gone as just another failed dictator for a totally failed country.
It is too big. It is too fractured. Its population is shrinking rapidly.
It is not even a "paper tiger" anymore.
We all know what happens to colonies when their natural resources are gone. Russia's fate is clear.

By: H.D.Franke Dr.

H.D.Franke Dr. — Fri, 18 Dec 2009 14:08:48 +0000

Russia is controlled by a handful of Oligarchs. The corruption level is beyond belief.
But Lukoil won the bid, together with Statoil, for a service contract Iraq's West Qurna oil field.
The estimated exploration and oil field services is USD 100 billion before, according to Lukoil CEO, the first drop of oil from a well there. Russian OFS don't have the means to explore the huge oil field nor do they have the means for continuing services. But just that is the basis of the contract with Iraq. Lukoil , in a typical Russian manner, first of all regards the contract as add-on to its strategic reserves. The big profit will be for the oil field explorator and oil field continuing services. But who ist that?

By: Jason Pinto

Jason Pinto — Mon, 14 Dec 2009 01:04:04 +0000

Service companies know there are opportunities to do business in Russia. Huge opportunities in fact and they have been there a long time. But those that do work there or have tried in the past will attest to the difficulty in doing business and making money in Russia. One major service company working there just laid off their entire senior Russian country management due to corruption. Another service company told me that repatriating money is nearly impossible and every deal with the gov't assures the tiniest of margins once all the various graft is paid. Without the rule of law to weed out corruption or the ability to make money for your parent company, Russia will continue to be a backward sinking cesspool in petroleum as it is in most other areas. With respect, there is a reason why western service companies have such a small footprint in Russia. They know better than most companies how to deal with risk (and profit from it). And they are choosing to stay away. These same companies work in Iran, Iraq, Nigeria, Indonesia, and the other 'stan countries just fine.

By: Steve Lombardi

Steve Lombardi — Sun, 13 Dec 2009 13:40:22 +0000

You're not being clear on what action you suggest and with what two companies.

By: Antoscar

Antoscar — Sat, 12 Dec 2009 12:27:13 +0000

I am not happy about it , the oil industry has been the one which will take all of us towards a terrible catastrophic way that the world or the planet do change forever. I realized about these situation of which could be someone scientist know something about it why ice keep melting and don’t want to tell because of money
Yes I like money, without it we cannot live anymore. I real know that , could be possible every country change the way into a better life , even better then , the way oil industry start for a wrong cause of human life. May be Companhaga don’t give any results because greed as being gone too far about human nature.