AUCTION OF SAKHALIN OIL PROJECT FAILS

. The international commercial tender for the development of the Sakhalin offshore oil fields known as "Sakhalin-4" has failed to produce a winner. The representative of the Sakhalin Regional Committee for Natural Resources and Geology, Petr Sadovnik, said that of the more than two dozen Western firms to show interest in the project, only Exxon of the U.S. took part in the competition. Sadovnik said that Exxon’s initial proposals were not accepted for economic reasons, but expressed hopes that negotiations will continue. (7)

Communists First to Clear Election Procedural Hurdles.