Polite talk about Russian oil

Much of the talk in the panel “Russian Oil: The Next Generation” focused on the technical side of doing business, such as the laws and licensing procedures.
Ray Leonard, vice president of Eurasia operations for Kuwait Energy Co. said he thought by 2010 Russia’s energy industry will not be able to get by without significant outside investments from outside sources.
One Russian energy executive in the audience was overhead saying to a colleague that the American panelists were trying to be very polite and avoid using the word “nationalization,” even though it’s a word in heavy use in Russia.