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Commodities Briefing - Categorized | Oil more

Putin is the new global shah of oil

Posted on 29 October 2012

Exxon Mobil (XOM) is no longer the world’s number-one oil producer. As of Friday, that title belongs to Putin Oil Corp - oh, whoops. I mean the title belongs to Rosneft, Russia’s state-controlled oil company.
Rosneft is buying TNK-BP, which is a vertically integrated oil company co-owned by British oil firm BP (BP) and a group of Russian billionaires known as AAR. One of the top-ten privately-owned oil producers in the world, in 2010 TNK-BP churned out 1.74 million barrels of oil equivalent per day from its assets in Russia and Ukraine and processed almost half that amount through its refineries………………………………………..Full Article: Source


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VRS - who has written 36970 posts on Opalesque Commodities Briefing.


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