Khristenko said Russian companies were bulking up to compete with foreign energy giants. Only companies with the reach and resources to develop major, risky projects would succeed, he said.
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Russia Not To Nationalize Oil Sector
He called the nationalization of oil industry "an illusion"
Russia?s Industry and Energy Minister Viktor Khristenko stated that the speculations that Kremlin has embarked on a plan to nationalize the oil and gas sector were not true. The country is only responding to a global trend towards consolidation, Khristenko told journalists.
Moreover, he called the nationalization of oil industry ?an illusion?.
?Consolidation in this sphere was not our idea. We are following world trends, for example Exxon Mobil or ChevronTexaco. There are many examples I could list. These processes are also grabbing Russia.?
Khristenko said Russian companies were bulking up to compete with foreign energy giants. Only companies with the reach and resources to develop major, risky projects would succeed, he said.
Khristenko said Russian companies were bulking up to compete with foreign energy giants. Only companies with the reach and resources to develop major, risky projects would succeed, he said.
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