BP moves closer to losing license to Siberian oil field

The Russian government is pressing a bold strategy this spring to secure for Gazprom, the state natural gas company, a monopoly on exports of the fuel to Asia.

In the latest onslaught, Moscow is threatening one of the crown jewels of BP’s global investments: the Kovykta gas field. And it is using methods similar to those deployed last fall to force Royal Dutch Shell to sell a controlling stake in another Far Eastern Russian energy development, the Sakhalin-2 project. In that case, too, Gazprom was the beneficiary.

IHT