Exploration Licenses Suspended

Russia's newly appointed Natural Resources Minister Yury Trutnev launched the promised investigation into activities of his predecessor Vitaly Artukhov, who issued 18 licenses to LUKoil on the eve of dismissal.

This means that the oil company is threatened with total checks and problems with licenses in the future, according to sources.

Trutnev announced that he would investigate into the circumstances related to issue of 18 licenses to LUKoil for geological exploration in Western Siberia right after he came into office. Activeness of Artukhov, who on his last working day signed a whole pile of documents (nearly as many as in all years of his work), looks suspicious.

Licenses issued to other companies are also under scrutiny.

Trutnev announced that registration of all licenses is suspended until the end of the investigation.