FSU/Eastern Europe: Reform in Russia leaves unsolved problems ///
Last February, BP announced its largest investment in Russia, yet – $6.5 billion – to be made through a venture that combines the major’s Russian holdings with those of Tyumen Oil Co. (TNK), and its partner, Access-Renova. The new entity will become Russia’s third-largest oil company. Russian officials and foreign observers, alike, have praised the deal, holding it up as an indication of radical improvements in the investment climate of Russia’s oil sector.
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