What Peak Oil? Retreating Arctic Ice Opens Vast Reserves to Russian Drillers
A bill authored by the Ministry of Natural Resources was in October this year hammered through parliament. It grants oil and gas companies expanded rights to explore resources both in internal and territorial waters and is aimed at lowering the financial burden of the oilmen engaging in the region.
«It allows us to increase the intensity of geological exploration in these waters,» ministry representative Yevgeny Tanin says.
What Peak Oil? Retreating Arctic Ice Opens Vast Reserves to Russian Drillers