A Quote by Vladimir Putin
Speaking about our largest oil company Rosneft, and I recalled in the beginning that almost 20 percent of it [19.7] belongs to BP. Who's company is that? British Petroleum, isn't it? I suppose that is not bad. I have to tell that British Petroleum's capitalization is significantly related to the fact that it owns more than 19 percent of Rosneft, which has vast oil reserves both in Russia and abroad. This has its impact on the company's stability as well.
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Strictly speaking, Rosneft is not a company. Let us not forget that BP has a stake in Rosneft and BP is a British company.
We may have more control, but my point is that, strictly speaking, Rosneft is not a state company. I think that this is an obvious fact, as a foreign investor has a 19.7 percent stake in it.
You folks been following the big British Petroleum oil spill in the Gulf of Mexico? I'm telling you, British Petroleum has put more birds in oil than Colonel Sanders.
The initials BP used to stand for British Petroleum, but like Kentucky Fried Chicken, they changed their name to improve their image. Apparently, 'Petroleum,' like the word 'Fried,' connoted a company too oily for American tastes.
I find Maersk fascinating. It is the Coca-Cola of freight with none of the fame. Its parent company, A. P. Moller-Maersk, is Denmark's largest company, its sales equal to 20 percent of Denmark's GDP; its ships use more oil than the entire nation.
Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a fertilizer company. And there was no more damned reason for all these oil companies to buy fertilizer companies, but they didn't know exactly what to do, and if Exxon was doing it, it was good enough for Mobil and vice versa.
We consume about 25 percent of the world's oil every year, but we only have reserves, including that which has not been pumped, of about 3 percent of the oil reserves in the world.
Here's a viewer's guide to BP media briefings. Whenever you hear someone with a British accent talking about this on behalf of British Petroleum they are not telling you the truth. That's the bottom-line.
However, given the fact that the State has a controlling stake in the company [Rosneft], it might not be the best course of action when one company under State control buys another one fully owned by the State. This is one point.
In 1972, Texaco Oil Company, in partnership with PetroEcuador, the state-run oil company of Ecuador, began to drill for oil in the jungles of the Ecuadorian Amazon.
When you're in a start-up, the first ten people will determine whether the company succeeds or not. Each is 10 percent of the company. So why wouldn't you take as much time as necessary to find all the A players? If three were not so great, why would you want a company where 30 percent of your people are not so great? A small company depends on great people much more than a big company does.
A significant number of petroleum geologists believe that we will reach the global maximum of petroleum extraction within this decade or that we have already reached it. Peak Oil happened in 1970 in America, when over half of our oil that we gained from the soil was exhausted ... This is very disturbing, regardless of global warming.
Of course there are many factors that led to the Iranian revolution, but back in 1951, the Anglo-Iranian Oil Company - which would later become BP - and its principal owner, the British government, conspired to destroy democracy and install a western-controlled regime in Iran.
If a German company takes over 51 percent of an Indian one, it is given far-reaching controlling rights. But if an Indian company owns the majority of a German company, it is granted only very limited influence. That is unfair.
BP wants Twitter to shut down a fake BP account that is mocking the oil company. In response, Twitter wants BP to shut down the oil leak that's ruining the ocean.
Then there is another area of activity - economic interaction between Russia and the United States. Right now, for example, it has already been made public that we signed a large deal to privatise one of our biggest oil and gas companies, Rosneft. We know for sure that US companies, as well as Japanese ones, by the way, are keenly interested in cooperation in Russia's oil and gas sector, in joint work. This has immense significance for world energy markets and will directly affect the whole world economy.
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