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Russian-US energy taskforce to help attract investments into small oil companies

20.11.2002 | Source:



The Russian-US energy taskforce is planning to provide aid in attracting investments into small and medium-sized oil companies in Russia. This agreement was specified in a final protocol adopted at the end of a meeting of the joint Russian-US energy taskforce held in Moscow, the press service of the Russian Energy Ministry reported. Additionally, the taskforce made a decision to contribute to information exchange between US and Russian independent associations of small and medium-sized companies operating in the fuel and energy sector.

The parties discussed the possibility of holding a round-table discussion dedicated to the legislation covering the activities of independent small and medium-sized oil and gas companies in Russia and the US. The taskforce decided to hold consultations on the issues of oil supply stability and forecasting in order to improve the quality of data and forecasts on the oil markets as well as step up information exchange as far as prices and reserves on the major oil markets are concerned. Additionally, the taskforce is planning to hold a meeting of experts to discuss the issues of forecasting demand and offer on the oil markets and to consider the influence of tax policy on oil and oil product prices. The taskforce will also hold consultations and make estimates of the possibility of creating a state oil reserve in Russia, the Energy Ministry reported.


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