Saturday, June 02, 2007

Russia bullies BP

Russia bullies BP: Drivers take note (CNNMoney.com)

Russia is again flexing its energy muscle.

On Friday, reports said Russia may cancel a contract it has with BP to develop a huge natural gas field in the middle of the country, claiming BP wasn't producing enough gas at the project.

This would be the latest in a string of incidents generally interpreted as Russia strong-arming its partners into deals more favorable to the government. These moves, analysts say, could hurt worldwide production and drive up energy costs for consumers everywhere.

No comments:

Battle Stations

Come and be a part of the Battle Stations!