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Iraqi workers are seen at the Rumaila oil refinery, near the city of Basra, 550 kilometres southeast of Baghdad, on Dec. 13, 2009.
Iraqi workers are seen at the Rumaila oil refinery, near the city of Basra, 550 kilometres southeast of Baghdad, on Dec. 13, 2009.
(Nabil al-Jurani/AP)

Fast-changing global oil map leaves Putin in driver’s seat

The world sometimes comes to those who watch and wait, and for Vladimir Putin, that could mean the delicious prospect of playing host to a queue of energy-hungry nations anxious to invest in Siberian oil and gas.

Less than a month ago Russia was a pariah state, targeted with U.S. and European sanctions. Fearing the loss of markets in Europe, Mr. Putin flew to China in search of a new business partner.