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The return of Russian crude

Russia has reclaimed its position as the world’s biggest oil producer for the first time in a decade – but uncertainty is still preventing some foreign oil firms from making the investments the country needs to fulfil its potential. Kevin Foster reports

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For the first time in years, US and Russian politicians are sounding consistently bullish about the prospects for co-operation in developing Russia’s massive crude oil reserves. The first formal US-Russian oil summit, held in Houston in October 2002, was attended by energy ministers from both countries and explored the potential for technology, trade and investment in Russia’s burgeoning oil

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