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Article: Big Oil will keep its sights on deals in Russia despite risks.
- Article from:
- The Evening Standard (London, England)
- Article date:
- June 1, 2005
CopyrightCOPYRIGHT 2005 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: TOM NICHOLLS
INVESTOR confidence in Russia's energy sector has been badly shaken by the hounding of Mikhail Khodorkovsky and the fate of his oil company, Yukos, which has been brought to its knees after being hit with massive back-tax demands.
However, despite the politically motivated nature of both cases, foreign investors - especially Big Oil - will continue to hunt opportunities in Russia's oil and gas sector because of their pressing need to gain access to large reserves, analysts say.
Yesterday, 18 months after his dramatic arrest at gunpoint, Khodorkovsky was handed a nine-year prison sentence for fraud and tax evasion, following ...