Soviets the Arctic and oil

Here’s a news story from Reuters and reported in the West Australian, October 5,2012.

LONDON (Reuters) – Russia is considering allowing Western companies to own oil licences in its Arctic waters, Energy Minister Alexander Novak was quoted as saying in Friday’s Financial Times.

The FT reported, without providing a full direct quote, that Novak said the proposal would allow foreign oil majors not only to operate offshore projects but also to “have access to production” and become “co-owners of the licences”.

Novak was cited as saying the idea was being discussed in the energy ministry, although no final decision had been taken.

Only companies that were environmentally safe, technologically advanced and financially robust would qualify, the FT said.

Earlier this month, state-owned oil giant Gazprom OAO <>delayed the start of production at its Prirazlomnoye field, the first Russian Arctic offshore oil deposit to be developed, due to safety concerns.

The Arctic is seen as a key source of oil in the next decade for Russia, the world’s largest producer.

(Reporting by Stephen Mangan; Editing by Richard Pullin)

I didn’t think contributing to global warming could be considered environmentally safe.


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8 responses to “Soviets the Arctic and oil

  1. I think Novak is just trying to buy off the Judiciary – so that they do not reach the conclusion that the Russian Government was indeed involved in the assassination of Alexander Litvinenko.

    The big question is: Is this evidence of my above-average ability to think laterally or evidence of my having spent too much time around people who believe in conspiracy theories?

  2. john byatt

    NEWS Flash

    @ TCS

    “The NO CARBON TAX Climate Sceptics are not aligned with either the LEFT leaning Green Gillard Government or the RIGHT leaning Coalition.”

    We are a centrist party. Ditch the Witch.

    • Thanks John

      That is truly beautiful. Time for a little bit of comparing I think.


      • john byatt

        Geoff does not disappoint , very next post

        “.Here’s what I wrote then..

        “…On the subject of Tony Abbott and his “problem with women” and the associated smear campaign it’s worth pointing out that this “problem with women” campaign is exactly what’s going on in the lead up to the Presidential election in the US. As the Labor women, Pliberseck, Roxon, Deb O’Neil et al are doing here, in the US they are trying to mix in a gender war and religion (think Abbott’s Catholicism, the pill, RU486, abortion etc and Romney’s Mormonism) and further frame him as the dangerous and radical mad monk not to be trusted as PM.”

  3. Arctic spring, it will be fine.

  4. Pingback: Another Week of GW News, August 7, 2012 – A Few Things Ill Considered