1 September 2003
Rising oil sales to US underpin energy co-operation
GOVERNMENT AND industry officials will gather in St Petersburg to attend the second Russian/US energy summit from 21-23 September. Upstream, there has been little progress in furthering oil and gas co-operation between the world's biggest oil consumer and its second-biggest producer since the last meeting, in Houston, in October. Despite US companies' ambitions to break into the Russian oil patch, no big field-development deals have been signed with US companies in the past 12 months. And although some US majors have been considering following BP's lead in forming an equity partnership with a Russian producer, the scandal that has erupted around Yukos in recent weeks will probably discourage
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