Companies
Russia Overshadows Regional Output
July 2006 | Industry NewsWhile Russia will continue to dominate oil supply in the region, backed by huge and under-exploited reserves, the Caspian states have an important role to play, with Azerbaijan and Kazakhstan an increasingly important factor. The growth rate in Russian oil supply has slowed appreciably since the beginning of the decade, but the acceleration of Caspian expansion means the region will make a growing contribution to world oil production. Russia's gas deposits not only dominate regional supply but represent the biggest single source for Western Europe. While consumer countries wish to diversify away from Russia, there are no other regional suppliers
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