Vladimir Putin (file photo) (ITAR-TASS)
September 27, 2006 -- Russian President Vladimir Putin today warned that authorities will take action against oil and gas companies that work "unconscientiously" or fail to fulfil their licence obligations.
Putin's comments came at a meeting with Natural Resources Minister Yury Trutnev, who reported to the president on the number of energy projects that remain inactive despite pledges of their development.
The Russian government has recently increased the pressure on foreign oil companies for alleged environmental violations or failure to meet terms of production-sharing agreements. The moves have raised international concern Russia may be seeking to further increase state control over the fuel and energy sector.
Foreign Minister Sergei Lavrov today denied foreign investors were being squeezed out.
Russia And Global Energy Security
An oil field in Russia's Republic of Bashkortostan (TASS file photo)
ENERGY SECURITY is increasingly moving to the top of the EU's agenda in its dealings the outside world. A recent report identifies the European Union's main energy objectives as not just securing gas and oil deliveries from Russia, but also ensuring that it has reliable alternative sources, including in Central Asia. Nonetheless, EU officials say relations with Russia take center-stage in their thinking....(more)