Russian President Putin has ordered bail out measures for Russia’s oil industry

Putin wants support for the country’s oil industry against a background of the hefty cuts in output in agreement with other of the the world’s main producers.

  • Has given his government until June 15 to come up measures.
Will likely include:
  •  “special rates” for pipeline operator Transneft PJSC and Russian Railways JSC to charge for crude, petroleum product transport
  • large oilfield servicing companies to be included on the government’s list of systemically important companies (ands thus eligible for state support)
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