as estimated by Price Waterhouse in 1993.
             Of course, opportunities and risks were always bonded together.
             High rewards: The reopened Russia was virtually virgin territory for the oil firms, comparable in many ways to the earlier great discoveries in the Middle East and Africa. Gaining control over the fields before its competitors could do likewise. If a firm did not invest in Russia, it risked being permanently excluded from one of the world's largest single sources of crude petroleum. In the highly
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