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" ... As frontier oil becomes costlier while accelerating demand-side innovations spread from rich to developing countries, led by China, oil companies face discouraging fundamentals. They’re stuck with the least attractive 6% of global reserves while parastatals keep the rest, and even that last 6% can be confiscated or taxed away at any time. Oil companies are price takers in a volatile market. They’re extraordinarily capital-intensive. They have decadal lead times. They have high technical, geological, and political risks. They’re politically fraught and interfered with; some firms have also suffered self-inflicted reputational damage that sullies the rest. Oil companies’ shrinking reserves and geographies force them into riskier and costlier projects while investors demand lower risk and higher return. Their service companies have turned into formidable competitors. Their permanent subsidies are coming under scrutiny and pressure. Most of the reserves underpinning their balance sheets are unburnable or unsellable or both—far costlier than demand-side competitors, even at today’s oil prices, and increasingly challenged even on the supply side—so financial regulators are sniffing around mark-to-market. ... "
" ... As he rallies political support for new management at Boryspil Airport – emboldened by his recent intervention in railway and seaport parastatals – Omelyan is pressing on with efforts to boost airline competition. EasyJet and Eurowings, two other sizable low-cost carriers, have been approached about possible route launches. Unnamed foreign investors are talking to the government about setting up a domestic carrier. And legislators are drafting amendments to lift 20% VAT on domestic aviation-related services – a burden that Ukraine’s other airlines frequently blame for their lack of interest in domestic flying. ... "
" ... Pensions alone accounted for about 17%of GDP in 2015, compared to an EU average of nearly 12%. Further privatization would help, but the value of state assets has dropped by about 60% since the crash and, more important, parastatals are seen a politically-popular source of jobs. ... "