Springtime for Stalin
Posted on 03/19/2008 9:30:24 PM PDT by fishhound
Russian police have raided the Moscow offices of the oil giant BP and its joint venture TNK-BP.
The searches have renewed fears that the Russian government wants greater control of foreign-owned energy assets.
There is market speculation that the Kremlin would like the state-owned gas firm Gazprom to buy the stakes of BP's Russian partners in TNK-BP.
Last year, TNK-BP was forced to sell its stake in the Kovykta gas field at a discount price to Gazprom.
In 2006, Shell was forced to cede control of its Sakhalin gas field to Gazprom.
"We will co-operate with the authorities but we do not know what they were looking for or why they were there," a BP spokesman said.
Until things settle out, you’d be crazy to invest in Russia.
Do business there, fine, but make sure you’re always on their dime, and not your own.
Link below to story from last summer about BP and others fearing Russia will be taking over their assets:
RUSSIA TRIES TO BURN BP
http://www.petroleumworld.com/sati07060201.htm
BP should get out of Russia, completely, likewise American oil companies should get out of Venezuela.
The searches have renewed fears that the Russian government wants greater control of foreign-owned energy assets.
Wow, their quick to realize the obvious.
Thanks.
Shutting the gas off to Europe, last year and this year, just wasn’t enough for them to get it.
Currently they are bullying all of Central Asia into selling their gas and oil at riduculously low prices to turn and sell it to Ukraine for outrageous prices to screw them over for having the audacity to be their own country.
No wonder Putin and Chavez like each other so much. They are two peas of the same pod!!
Hugochavez.ru
Rule #1 never deal with communists.
Rule #2 see rule #1.
The Russian police has raided offices of "Eldorado" - a country-wide home electronics retailer and of the major computer accesories distributor "Burokrat".
I see nothing special in the TNK's case.
That can only mean that BP must be sitting on a boatload of oil.
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