Russia to shut out US oil giants

peakoil.com -> observer.guardian.co.uk :

President Vladimir Putin is set to keep US oil companies out of a lucrative gas field in the latest sign of the deteriorating relationship between Moscow and Washington. The Russian leader is expected to favour Norwegian companies and reject bids by America's Chevron and ConocoPhillips after failing to secure backing from the United States for his country's attempt to join the World Trade Organisation. Total of France is also on the shortlist to develop the 3.7 trillion cubic metre [130 trillion cubic feet] gas field, which is located in the Barents Sea, near the Arctic Circle.

Russia has been very reluctant to allow foreign oil groups access to its energy reserves other than as junior partners on joint ventures with Gazprom. Russia supplies 25% of the European Union's gas but has also resisted EU demands that it loosen Gazprom's control over the country's pipeline network.

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