Russian Natural Resources Ministry to check oil giants

The Russian Natural Resources Ministry is planning to examine the implementation of license agreements by YUKOS, Royal/Dutch Shell Group and Exxon Mobil, the press service of the ministry reported. A special department for monitoring the implementation of license agreements will be created within the ministry.

According to Alexander Povolotsky, the head of the state service for control over the use of natural resources and ecological security, one of the main tasks of the new agency is to strengthen activities aimed at checking the implementation of license agreements by large producers of natural resources. The department will inventory corresponding licenses and work out a national plan of examining major producers of natural resources in 2003 and 2004.

Povolotsky also noted that it was planned to create a coordinative council for state control over the rational use of natural resources with the participation of representatives of interested ministries and government agencies, including law enforcement agencies.