Russia ready to discuss alternative resolutions on UN mission to DonbassRussian Politics & Diplomacy September 21, 20:18
UN approves probe into Islamic State crimes in IraqWorld September 21, 20:10
Russia’s Alrosa mined all-time largest pink diamond in its historyBusiness & Economy September 21, 20:07
Russia submits Zvyagintsev’s film Loveless for OscarsSociety & Culture September 21, 19:16
Diplomat confirms Russia ready to support Iraq in fight against ISRussian Politics & Diplomacy September 21, 19:10
Russian, Syrian diplomats discuss cooperation within OPCWRussian Politics & Diplomacy September 21, 19:01
Putin talks to Russian Alisa voice assistant, inspects unmanned vehicle created by YandexScience & Space September 21, 18:33
China made offer to Rosatom on new nuclear power plant siteBusiness & Economy September 21, 18:29
Russia’s position in FIFA has always been strong — officialSport September 21, 18:28
KUWAIT CITY, March 26. /TASS/. Russia’s oil sector feels confident in the current economic situation and has no fear of rivalry with US shale oil, Russian Energy Minister Alexander Novak said in an interview with Kuwaiti newspaper Al-Seyassah.
"We can say that Russia’s oil sector feels confident and is not afraid of rivalry on the part of shale oil producers," Novak said.
The minister explained that the cost of producing oil at Russia’s deposits is "one of the lowest in the world and can be compared only with the Persian Gulf countries."
According to the forecasts, the oil consumption this year will grow by at least 1.2 or 1.3 mln barrels per day, Novak said.