Russian President Vladimir Putin said Thursday that independent oil companies should have the right to develop offshore resources as long as they don't sell those rights to foreign corporations, Interfax reported.

Last month, four non-state oil companies--Bashneft (BANE.RS), OAO Lukoil Holdings (LKOH.RS), Surgutneftegaz (SNGS.RS) and TNK-BP (TNBP.RS) petitioned Putin to grant them access to Arctic offshore deposits, which are now only accessible to state-owned Rosneft (ROSN.RS) and Gazprom (GAZP.RS).
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