Related Articles
Forward article link
Share PDF with colleagues

Russia is planting flags in the Middle East

Pragmatism and a tolerance for risk are giving Russian energy interests an edge in the region

Sometime in 2024, capacity at Iran's sole nuclear power facility, at Bushehr on the Gulf coast, will double to 2 gigawatts. A couple of years after, another 1GW reactor is due online. If nothing else, Iran is coming good on its civilian nuclear ambitions. Russia, whose state atomic firm Rosatom is building the two new plants, is the enabler. Russia's and Iran's energy plans don't stop at reactors. Lukoil, a private firm but Russia's second-biggest oil producer, and state-controlled Gazprom both have Tehran's approval to bid for upstream projects. Lukoil, which hopes to develop the Abe Timur and Mansuri fields, in western Iran, says the country "is our target area at the moment". Gazprom, wh

Also in this section
Brexit casts dark cloud over UK's North Sea industry
18 December 2017
The UK's oil and gas sector has been the focus of some sizeable asset acquisitions recently, but uncertainty over the terms of the country's withdrawal from the EU is confusing the outlook
Saudi Arabia: Into the unknown
15 December 2017
The crown prince’s domestic and regional policies are taking the kingdom along several new and uncharted paths
Happy days ahead for Tullow Oil
14 December 2017
The company's bottom line suffered when crude prices crashed in mid-2014, but a landmark maritime boundary resolution should lead to a welcome boost for company revenues