2014-10-29 — afr.com
Rather than throw in the towel in the face of Western sanctions intended to halt Russia's Arctic oil ambitions by stopping technology transfers, the Russians have responded with plans to "Russify" the technology to be deployed in the world's largest effort so far to extract oil from the thawing Arctic Ocean.
A further "Russification" of the industry seems inevitable. This month, President Vladimir Putin approved the creation of a state-owned oil services company, RBC, a Russian business newspaper reported. The intention is to duplicate, as well as possible, the services purveyed now by Halliburton, Baker Hughes and Schlumberger.
Comments: Be the first to add a comment
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.