fbpx

Rosneft Looks East

It seems that if you are a corrupt energy company and want to invest somewhere beyond the reach of the courts, you look to the East.  From Bloomberg:

OAO Rosneft, Russia’s largest oil producer, may focus on Asia, rather than Europe, after Yukos Capital Sarl won a ruling freezing 425 million pounds ($648 million) in U.K. bank accounts, according to an analyst.

“It corals the company and ensures that the growth focus stays towards Asia rather than the west,” UralSib Financial Corp Chief Strategist Chris Weafer said by e-mail today. (…)

The state dictates Rosneft’s growth strategy and, at least for now, that is almost entirely oriented towards China,” Weafer said.