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Further Development

Ex.1 Fill in the gaps in the text with the words from the box:

experts, collapse, devaluation, output , rejuvenation , slide, rebound, technology


Russian oil production finally halted its ________ in 1997 and a turnaround in Russian oil ________ began in 1999. Many analysts attribute the __________ in production to the privatization of the industry following the ________ of the Soviet Union. The privatization clarified incentives and increased less expensive production. Higher world oil prices (oil prices tripled between January 1999 and September 2000), the use of _________ that was standard practice in the West, and the ________ of old oil fields also helped raise production levels. Other ________ partially attribute the increase to after-effects of the 1998 financial crisis, the fall in oil prices, and the subsequent ________ of the ruble.


Text 8

<== попередня сторінка | наступна сторінка ==>
The Rise of the Soviet Oil Industry | Modern Development of Oil and Gas Industry in Russia

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