Since the late 1990s, Russia's oil production has experienced a steady resurgence. As a result, Moscow has regained its status as a major oil producer, exporter and crucial player in global energy markets. This paper argues that this rising Russian role should neither be overestimated nor underestimated. It examines some of the main characteristics of the country's oil industry, notably the investment climate, production-sharing agreement regime and pipeline capacity. Copyright 2004 Organization of the Petroleum Exporting Countries.
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Article provided by Organization of the Petroleum Exporting Countries in its journal OPEC Review.