ConocoPhillips Officially Exits Russia

Lesson Brief Ведомости
One of the pioneers of oil and gas exploration, ConocoPhillips, has officially exited Russia after 25 years of business in the country. ConocoPhillips was the first western oil company to begin drilling after the fall of the Soviet Union. When asked the reasons for exiting, the company's spokesman cited political tension and the fact that it just isn't necessary to explore in such "exotic" places when a company can drill in a place like North Dakota. What wasn't said was the fact that this exit, among other major western companies' exits, reflects the dark shadow over Russia's investment climate.  
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