Russian President Putin has ordered bail out measures for Russia’s oil industry


Russian President Putin has ordered bail out measures for Russia’s oil industry


Putin wants support for the country’s oil industry against a background of the hefty cuts in output in agreement with other of the the world’s main producers.

  • Has given his government until June 15 to come up measures.

Will likely include:

  •  “special rates” for pipeline operator Transneft PJSC and Russian Railways JSC to charge for crude, petroleum product transport
  • large oilfield servicing companies to be included on the government’s list of systemically important companies (ands thus eligible for state support)
Putin oil russia

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