Deputy Minister of Energy of the Russian Federation thanked the West for sanctions
The share of revenues from oil and gas production in the federal budget of the Russian Federation fell from more than 50 percent in 2014 to 37-38% this year. Deputy Minister of Energy of Russia Kirill Molodtsov stated this today at a meeting within the framework of the “Russian Energy Week”.
Subscribe to PolitNavigator news at Telegram, Facebook, Classmates or In contact with
“Taking into account the devaluation, this had a rather positive impact on the industry. The devaluation made it possible to properly structure the business and provide an opportunity for the development of related industries,” Molodtsov said.
According to him, the share of hard-to-recover reserves in the total volume of oil production is growing. Currently, 39 million tons of oil are produced this way; by 2035, this figure will increase to 80 million tons.
“The sanctions had a mobilizing effect on us. The more difficulties, the easier it is for us to climb the mountain. To some extent, thanks to those who announced them. Now we understand that we can not only solve this problem, but also significantly increase the volume of hydrocarbon production and processing,” added the deputy minister.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.