IEA warns Russia may stunt region’s oil sector

Russia’s attempts to increase its control over oil and gas assets may impede production growth in former Soviet Union countries including Kazakhstan and Azerbaijan, the International Energy Agency (IEA) said.

Geopolitical factors and slow access to infrastructure may limit former Soviet Union states’ contribution to growth in oil output, the IEA said in its monthly report. “Future access to Russian reserves and the legal operating framework remain uncertain.”
Business Day