Lavrov says Russia-Belarus relations developing in working modeRussian Politics & Diplomacy February 21, 21:48
Condolence book in memory of Churkin opened at Russia’s Permanent Mission to UNWorld February 21, 20:53
Ukrainian billionaire Dmitry Firtash detained in Vienna at Spain’s requestWorld February 21, 20:40
UN secretary-general offers Lavrov condolences on Churkin’s deathWorld February 21, 19:53
OPEC does not see problems regarding growth of Russian oil exportBusiness & Economy February 21, 19:46
Kremlin to bake 100,000 pancakes for MaslenitsaSociety & Culture February 21, 19:23
Production of Mercedes Benz cars to start in Russia in 2019Business & Economy February 21, 18:43
UN Security Council holds a minute of silence in memory of Russia’s deceased envoyWorld February 21, 18:30
Russia and US might launch joint operations against terrorists in Raqqa — ministerWorld February 21, 18:17
MOSCOW, September 18. /TASS/. The Russian Energy Ministry does not rule out that oil output my decline if crude prices go down, First Deputy Energy Minister Alexei Texler said on Friday.
"It is possible if the [oil] price is lower than the current level. It’s obvious that amid such prices the Arctic shelf development will be out of the question. We base all our plans on boosting output in the Arctic on projections that we’ve announced [of oil price growth to $80 per barrel within 5 years - TASS]," he said.
If oil price drops to $40-50 per barrel companies will be adjusting their plans, Texler said, adding that oil output may also go down, though "now we evidence growth of output and drilling."
As TASS reported earlier Energy Ministry projected oil output at around 525 mln tonnes in the mid-term.
At the same time, Texler said "amid current crude prices oil output in Russia may keep at the current level.".