By Ed Crooks in London and Catherine Belton in Moscow
Published: May 1 2007 03:00 | Last updated: May 1 2007 03:00
Urals Energy, the oil and gas company, has said it is confident it will not run into trouble with the Russian government, in spite of its report yesterday of a 400 per cent increase in its proven and probable reservesto 577m barrels of oilequivalent.
Russia’s environmental watchdog agency said yesterday it was waiting for the results of a probe by the FSB, the security service, into whether several London-listed companies operating in Russia, including Urals Energy, were misreporting their reserves.