The chief executives of BP, Shell and Total are
scheduled to meet with Putin later this week at the St. Petersburg
International Economic Forum
Intriguing. Via The Financial Post:
The chief executives of BP, Shell and Total are scheduled to hang out with Vladimir Putin later this week at the St. Petersburg International Economic Forum. The once-popular event has been shunned for the past two years by Western bankers and non-oil industrial leaders following Russia’s annexation of Crimea and the conflict in eastern Ukraine. But these energy giants see dollar signs in the sanction-riddled country, with BP recently estimating Russia to possess the sixth-largest supply of oil on the planet. Moreover, they’re betting that when the dust settles the European Union will renege on its promise to decrease dependence on Russian gas. And even before relations normalize, Western oil and gas companies remain free to invest in and extract fossil fuels from the region — although tight-oil projects or projects located offshore or in the Russian Arctic are currently forbidden by sanctions.
This is truly remarkable. The energy sector — one of the most powerful industries on the planet — is opposed to sanctions against Russia. Could this be the beginning of a corporate mutiny against the west’s insane Russia policy?
Source: Russia Insider 16-06-2015
