North West Oil Group, Inc. (NWOL)

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trade2much...I think you have it right.


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Putin’s Advisor Announces State Program to Support Selected Private Enterprises
Created: 20.06.2006 17:18 MSK (GMT +3), Updated: 17:18 MSK, 39 minutes ago


MosNews


Russia must create “champion” companies if it wishes to develop its economy, a senior advisor to President Vladimir Putin has declared on Tuesday, June 20. Arkady Dvorkovich, head of the expert committee commissioned by the Russian President, told investor conference that such champions would be privately owned but would receive state support, especially in terms of exports.

The state would have control over the companies only during a transitional phase, he said.

Sectors in which Russia already has champions, or is set to have them, include oil, metallurgy, telecoms, naval and aeronautical engineering and maritime transport, the expert noted.

Dvorkovitch declared that “for the first time, we have our own money,” alluding to Russia’s oil and gas wealth.