Some oil refining companies have recently entered the field of exploration and production (E&P). Both the relatively high financial performances of E&P companies and the shrinking refining margin may motivate refiner’s decision to enter E&P. However, in making this decision, there are other...

This paper explores from a regional perspective the distorted nature of trade in energy products within the CIS countries. The persistence of pricing distortions, barter arrangements, and discriminatory access to pipelines, as well as failure to honor contracts, has disrupted and distorted...