After falling to clear Russian regulators worries, western oil giant Shell has lost its license to drill oil in Russian oil field. US and its supportive European nation impeached Russia to use its oil reserve as an economic and political pressure weapon. Critic nations charged that Russian regulatory authority are using double standard for the foreign refineries.
Russia rules out all allegations about the discrimination against the foreign firms in its pursuit of its energy needs. Russia asset that regulatory is treating both Russian and foreign firms exactly the same. President Putin level all allegations based on the hypocrisy, as he assets that nation did not link its energy policy with political cooperation with its partners.
Russia is a major oil exporter to European Union; its oil fulfills most of European energy needs. Russia asserts that country is firm on its integrity to provide oil for its neighbours. Russian president Vladimir Putin said
Our position is open, absolutely transparent and market-based for all our partners, regardless of current political relations, in our economic relations, we intend to depoliticize all our contacts. But what is still more important is that we, through agreement with the European Union, are switching to equal price formation principles within the country
Recently Russian regulators forced Shell to sale its stake in the Sakhalin-2 project to Gazprom. In the latest development, BP threaten to lost its license for the Kovytka gas field - operated under a joint venture with Russian oil driller.
With the regulators arbitrary attitude, ExxonMobil, the world’s largest oil firm, demand that Russia should clear its attitude to foreign investment. Company impeached that country has illegibly canceled their license to drill oil in country and added that regulators has no rights to leave foreign companies in a limbo.
Image: Kir
Via: BBC
