Oil and Gas Today with Chris Faulkner – Podcast #447

It’s obvious folks that Russia is seeking control over Crimea’s oil and gas production.

You may have seen Russia’s RIA news agency last week and noticed the speaker of Crimea’s Moscow-backed parliament stated that Russian companies such as Gazprom should be involved in Crimea’s oil and gas production.

“Russia, and Gazprom, should take care of the oil and gas production. It’s not our issue,” Vladimir Konstantinov said, adding that “These are our oilfields and we will fight for them.”

This follows statements from Crimea’s first deputy prime minister last week maintaining the region would take ownership of Ukrainian state companies on its territory, including Black Sea natural gas fields.

The recent events in Crimea have seen gas prices rise by 2.8% amid concerns that an escalating situation would lead to trade sanctions on Russian natural gas exports.

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