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Article: Russia Turns Clock Back On Crude Exports.(Brief Article)

Article from:
NEFTE Compass
Article date:
June 8, 2000
Author:
Copyright

After a break of over three years, Russia has revived the system of "federal programs," whereby companies are given extra crude oil export allocations to fund government-backed projects. The Energy Ministry has so far come up with several interesting schemes, which include providing funds for World War II veterans.

Industry sources in Moscow say the ministry -- under the leadership of the former mayor of Kogalym Alexander Gavrin -- will reintroduce federal programs in the third quarter. At least some of the extra allocations are expected to be doled out to Trading House Transneft, a company controlled by state pipeline operator Transneft.

The Energy ...

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