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Forbes / AFX News Limited: Shell seeks clarity on Russia’s foreign investment policy in oil industry

04.23.07, 9:16 AM ET
 
LONDON (Thomson Financial) – Chris Finlayson, head of Royal Dutch Shell PLC’s Russian operations, called for clarity on Russia’s law covering participation of foreign companies in domestic oil projects.

Speaking at the 10th Russian Economic Forum in London, Finlayson reiterated the company’s interest in the region but said ‘what is required is clarity in the law about what forms of participation will be acceptable.’

‘The industry will adapt to work under these forms of participation,’ he said.

His comments come days after the conclusion of a 7.5 bln usd deal that saw Shell cede control of the giant Sakhalin-2 project to state-owned Gazprom.

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