Home
>
Political
>
Russian State Administration Gives New Facelift to Oil and Energy Resources

Russian State Administration Gives New Facelift to Oil and Energy Resources

With the world's largest oil and natural gas reserves, second in coal production and eighth largest oil assembly, President Vladimir Putin draws grandiose plan for the country's hydrocarbon reserve encouraging drilling and investment plans aimed at further development. Private investments, domestic or foreign is however, a big no-no, rather state government plays the steward to Russia's energy patrimony or to say 'serve the national interest'.

"Hydrocarbons are an extremely important sphere of our potential cooperation" Putin says in an interview "but I would like to stress: we are already cooperating in the electric power, primarily engineering for the electric power sector".

Given today's high oil prices, state government sounds positive to funding new projects. Additionally, Indian and Chinese government shows willingness to do business with Russian companies with their investment criteria more in line with the approach favored by their Russian hosts. Putin further stressed state government to have larger share while a meager chunk gifted to private investors mainly in electricity sector.

The post Cold-War relics witnessed Russian industries as highly inefficient, combined with under-nourished investment opportunities and mismanagement dominating the sector; of which petroleum poised to have a serious impact overall. Further huge infusion of capital, technology and negligent exploration management hit the production to a record-low and decline. This is return could have foiled Putin's plan and country's national honor.

Putin must recognize that to put back the country's faltering image, he needs a petroleum sector with well-managed and well-capitalized oil, gas and pipelines. Russia's oil and gas industry being the backbone to the country's economy generate fifty percent of the total revenues and taxes and most of foreign exchange, need balanced combination of public and private governance.

A faltering Russian oil sector would be a disaster for the world economy as well as for Russia itself.

Rahul Ghosh, working as freelance industry analyst working is a regular contributor and has written many articles and commentaries on diversified industry sectors. For further discussion with the writer, email at rahulghosh@rediffmail.com

maid service near Mundelein ..

In The News:

Miami-Dade debuts America's first autonomous police SUV with AI cameras, drone deployment and real-time crime detection in groundbreaking law enforcement pilot.

Bank impostor scams cost Americans $2.9 billion as criminals use AI voices and caller ID spoofing to steal life savings. Learn nine essential fraud protection tips.

Foreign-owned apps secretly harvest personal data from seniors, making them prime targets for scams. Learn how to protect your privacy and stop data brokers today.

Sens. Josh Hawley and Richard Blumenthal introduce bipartisan GUARD Act to protect minors from AI chatbots through mandatory age verification and disclosure requirements.

Ghost-tapping scammers exploit wireless technology to drain accounts through small transactions, but RFID-blocking wallets and transaction alerts can protect you.

French pilot project demonstrates wireless charging roads that can deliver over 300 kilowatts of power to EVs while driving, potentially eliminating range anxiety.

YouTube's Ghost Network spreads information-stealing malware through thousands of fake videos offering cracked software, using compromised accounts and fake engagement.

Protect your privacy by disabling your smart TV microphone. Most TVs have hidden mics that listen even when voice commands are off. Learn quick steps to stop unwanted audio capture.

SessionReaper vulnerability hits Magento and Adobe Commerce stores, compromising 250+ sites in one day. Hackers steal data and hijack shopping sessions.

Master essential parental controls and digital safety tools to protect your kids online. Learn screen time limits, location settings and privacy controls every parent needs.

Cybersecurity expert shares six essential steps to protect against dark web threats, including data removal services, password managers and antivirus software.

NVIDIA GPU space mission could revolutionize cloud services by enabling orbital data centers that make apps, games and AI tools faster and more efficient.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Microsoft warns Windows 10 users face serious security risks as 90% of ransomware attacks target unsupported systems. Learn why upgrading to Windows 11 is crucial.

Nike unveils Project Amplify, revolutionary motorized shoes developed with Dephy that add powered assistance to every step for runners and walkers.

Cybersecurity experts warn about one of the largest credential compilations ever found, urging users to check "Have I Been Pwned" and change passwords immediately.

Quick iPhone and Android battery optimization techniques help your device stay powered all day by turning off hidden features that secretly drain power in the background.

Kodiak Driver autonomous truck achieves perfect 98 safety score, matching top human fleets in groundbreaking AI evaluation by Nauto's VERA system.

New 401k catch-up contribution rules in 2026 will change taxes for high earners over 50. Learn how scammers exploit these changes and protect your retirement savings.

Kurt Knutsson's guide covers social media privacy protection through location settings, account privacy controls and two-factor authentication to prevent scams and data breaches.

Revolutionary retinal implant restores central vision in 80% of patients with advanced macular degeneration, offering hope where treatments once only slowed blindness.

Learn how to use passkeys on Windows and Mac computers without cameras or fingerprint readers. Discover secure authentication methods that replace passwords.

Tesla's FSD v14.1.2 update reintroduces Mad Max mode, enabling higher speeds and more frequent lane changes than the standard Hurry profile setting.

A phishing email scam targeting American Express customers shows how cybercriminals use fake urgent messages to steal personal and financial information.

Facebook's new Meta AI feature analyzes your camera roll photos to create polished collages automatically, but requires cloud processing and raises privacy concerns.

Russian State Administration Gives New Facelift to Oil and Energy Resources

Political