Abstract
This article discusses the asset acquisitions of Asian national oil companies (NOCs) in the energy-rich states of Russia and Central Asia, and considers the implications for economic and geopolitical stability. Asian NOC investment in these countries is analyzed in terms of state-level political and economic relations, as well as the regional and local impact of NOC activity on the host country. Asian NOCs, and the governments that support them, face few political obstacles in dealing with Eurasia’s authoritarian regimes. Asian companies operate in business cultures similar to those in Eurasia, and have fewer reservations about engaging in bribery or corruption than their Western counterparts. These advantages are offset by the entrenched position of Western and Russian oil companies, and a strong commitment of the host states to political and economic independence.
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