OIL COMPANIES AGREE TO COMPETE.

Publication: Monitor Volume: 1 Issue: 46

Age: 29 years

Russia’s nine largest oilconcerns have agreed that it is better for them to compete country-widethan to try to establish specific territorial spheres of influence,and they will use their power to force smaller energy concernsto reach the same conclusion, Russian television reported July4. The Russian government remains very much involved in this sector.On July 5, Segodnya reported that Prime Minister ViktorChernomyrdin will soon decide on how to structure the country’semerging oil companies. Meanwhile, demand for their stock roseand sent their prices soaring on Russian exchanges.

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