VIENNA, June 3. /TASS/. Russia is capable of providing stable oil supplies to the global market, the country’s Energy Minister said at the 6th OPEC International Seminar in Vienna on Wednesday.
"Russia is capable of safely and predictably providing a stable volume of oil supplies to the global market amid a wide range of prices," he said, adding that Russia’s oil sector has all necessary technologies for supporting oil production volumes.
The volumes of exploration and exploitation drilling are on the rise while oil output "grew by 1.2%" in the first quarter of 2015, the Minister said.
Despite sanctions the interest from foreign investors to Russia’s oil industry is still in place, Novak said, adding that currently the foreign investment share in equity capital of traded Russian oil producers exceeds 26%.