U.S. oil giants slow to invest in Russia; laws, pipelines seen as concerns

Legal protections a problem, majors also waiting for passage of law allowing production sharing agreements; independents drawn by lack of drilling risk; Russian workers get better pay, training in advanced technologies, from Western companies

Bruce Stanley

Associated Press Business Writer

When Conoco Inc. developed the Ardalin oil field in northern Russia, coping with the Arctic weather and total absence of supply links to the outside world was the easy part. Navigating political upheaval following the collapse of the Soviet Union proved far trickier. In recent years, Russian offici....

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Independents investing in Russia

Zero infrastructure for Ardalin

No law for production sharing

No drilling risk