Risk.net

Comeback in the old USSR

The days of the Soviet Union are still haunting the Russian Federation’s energy industry. The creaking infrastructure left by the centrally planned economy and monopolistic energy sectors have left crumbling refineries and pipelines, a transmission grid in need of a major overhaul and a commercial regime that is only showing signs of life some 11 years after the end of the USSR.

But it is not all doom and gloom. Russia’s wealth of hydrocarbons stands the country in good stead, with proven res