Western investment growing in Russia despite sanctions
The appetite of Western majors for Russian assets is perking up again, despite rules that still aim to stop them investing
DEAL-MAKING involving Russia's oil and gas companies is starting to froth in the wake of President Vladimir Putin's annual St Petersburg investment forum - something like a Russian Davos-on-Neva - and hopes that sanctions may soon be relaxed. The world's oil industry is alive to the opportunity. Senior executives, including ExxonMobil chief executive Rex Tillerson and Shell boss Ben van Beurden, descended on the annual international economic forum in mid-June. Even their turning up was a mood indicator. Tillerson was back at the three-day event after a two-year hiatus. Senior executives from BP, Total, Eni and Schlumberger also made the trip. The 75% rise in Brent oil prices since January ha
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
