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Repiglican Roast

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Name: TheFuriousGourmet

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Sunday, July 23, 2006

Putin plan to shut out US oil giants

The Russian leader is expected to favour Norwegian companies and reject bids by America's Chevron and ConocoPhillips after failing to secure backing from the United States for his country's attempt to join the World Trade Organisation.

The tit-for-tat snub will be a blow to US companies scrambling for access to Russia's huge gas reserves at a time of high energy prices. It comes after Putin failed to resolve differences with US President George Bush over trade and human rights at the G8 conference in St Petersburg last week.

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