Russian Lukoil’s Alekperov predicts end of protectionism in oil-rich countries

January 27, 2014

Some executives are beginning to talk about an easing of resource nationalism, one of the hottest topics in the industry over the past decade as countries such as Russia and Kazakhstan became increasingly assertive about developing their reserves themselves, Reuters reported from Davos on January 25.

"Today a number of countries which have huge reserves of oil and gas begin to say that they need investments to develop them," said the head of Lukoil Vagit Alekperov.

"It is not only Iran. It is Mexico, East Africa. We have seen a period of national protectionism when unfortunately we could not access some countries because it was all run by national companies. Today the situation changes," he said.

Copyright: Reuters, 2014