Let’s party like it’s 1968!

Monday saw Moscow talking tough on the sanctions saga:

Russia’s Energy Minister has said Moscow will seek new partners in countries that have not imposed sanctions on it if Western oil and gas companies pull out of projects with Russia.
“If (Western) companies decide for themselves not to take part in organising investment projects in the long term, we will invite investors from countries which have not imposed sanctions against us and our oil and gas companies,” RIA news agency quoted Alexander Novak as saying in response to a question at a meeting with students.

US oil major ExxonMobil has had to suspend work on offshore exploration in the Arctic with Russian oil producer Rosneft and Anglo-Dutch supermajor Shell has suspended development of hard-to-recover oil in Russia’s Bazhenov formation with Gazprom Neft.

It’s no secret that Russia needs the expertise of western companies to exploit its Arctic reserves, having not the slightest clue how to do it themselves.  So who will they turn to instead?  Why, those world-reknowned experts in Arctic exploration and production: the Vietnamese!

Gazprom Neft, PetroVietnam in Arctic pact

Gazprom Neft and PetroVietnam are aiming to jointly explore for oil and gas at Russia’s Dolginskoye field in the Pechora Sea in Russia’s Arctic region.

Here’s a picture of Vietnam in the middle of a particularly harsh winter:

Beach Scene

Yes, just the guys whose expertise in Arctic operations the Russians need to tap up.  The West had better drop those sanctions ASAP.


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