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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: stsimon who wrote (6559)2/8/2002 7:30:21 PM
From: excardog  Read Replies (1) of 206184
 
I've read Russia's lifting costs are closer to $15 per barrel and the Saudi's are around $5. Maybe that's why Russia would prefer some longer term supply contracts.

From my previous post:

<<But Mr Khodorkovsky said the Russian oil industry was also vulnerable to very low oil prices because of its high development costs and long and rigid supply lines. He said the US and Europe should therefore help to ensure long-term contracts for Russian oil in return for benefiting from Russia's role as a safety valve.>>

Scott
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