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Russian Energy Ministry sees no need in establishing separate heavy crude stream

March 14, 2017, 17:59 UTC+3
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MOSCOW, March 14. /TASS/. Russian Energy Ministry does not think it necessary to return to consideration of a separate heavy crude oil transportation stream, First Deputy Minister Alexei Teksler told reporters on Tuesday. Oil quality is growing, the official said.

"The time out [taken by the Energy Ministry for review of this issue - TASS] will be in effect until we see the need of making a separate stream. We are monitoring the situation. By the way, Urals [oil] quality slightly improved over the last year, rather than declined," the official said.  

Russian Energy Ministry expects investments in domestic fuel and energy sector this year will be at 2016 year level at the least, Teksler added.

"We expect [they will be] at last-year level at the least," he said. They may be higher, particularly in oil and gas production projects. 

It was reported earlier investments into fuel and energy sector of Russia in 2016 were estimated at over 3.5 trillion rubles ($58.8 bln).

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