NATO Could Have Done More to Prevent Ukraine War, Stoltenberg Admits
Stoltenberg reflected on his 10-year tenure, citing February 24, 2022, when Russia launched its full-scale invasion
Future of Oil Prices Remains Unclear
- Tweet
Send to Kindle
Rosneft CEO Igor Sechin stated Friday that if investment in the oil industry goes back up, oil prices may remain at USD 60- 80 per barrel.
Sechin explained that in case this doesn't happen, then prices could return to USD 100-110 per barrel.
He added that the company's capital expenditure program will be further cut by 30% this year, The Independent reported.
The Russian giant's CEO also metioned EU sanctions on Russia and the effect they have on the industry as a whole.
“The sanctions have reverse effects: they damage international shareholders and international stakeholders, they damage partners that manufacture process equipment, they damage banks and investment funds who will not be able to invest in the development of industries in Russia,'' he said.
He further expressed his opinion on alternative energy sources, stating that it currently is too expensive and few customers will be willing to pay extra for it.
Sechin said that energy security is needed in order to secure economic growth and well being around the world.
The full interview is available here.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Related Articles:
Ukraine Downs 72 Russian Drones Amid Widespread Nighttime Attack
Ukraine's air defense successfully intercepted 72 of the 76 Russian Shahed drones launched during the night of 13-14 September
Zelensky Reports Russian Advances in Pokrovsk as Ukraine Awaits Long-Range Weapons
Ukrainian President Volodymyr Zelensky reported that Russian counterattacks in the Kursk region, which was partially reclaimed by Ukrainian forces following their major incursion last month, have not yet achieved significant success
Erdogan Demands Russia Return Crimea to Ukraine, Citing International Law
In a video message to the Fourth Summit of the Crimean Platform Leaders, Turkish President Recep Tayyip Erdogan demanded that Russia return control of Crimea to Ukraine
Russia Warns of Retaliation if US Approves Long-Range Missile Strikes by Ukraine
The Kremlin has issued a warning that Russia will "retaliate accordingly" if the United States allows Ukraine to use long-range ATACMS missiles for strikes deep within Russian territory,
Ukraine Weighs Alternative Plans as Allies Debate Future Support
Kyiv is reportedly exploring alternative strategies for its war with Russia as Western support continues to evolve
One in Four Bulgarians Struggles to Afford Winter Heating
One in four Bulgarians is unable to afford heating during the winter months
EU Gas Storage at 90% Full; Bulgaria Faces High Energy Poverty Rates
According to the European Commission’s annual report on the Energy Union, EU gas storage facilities are now 90% full
Westinghouse Unveils Pioneering AI System for Nuclear Power Generation
NEW NUCLEAR-SPECIFIC GenAI SYSTEM WILL ENABLE COMPANY'S CUSTOMERS TO DEVELOP NUCLEAR SOLUTIONS WITH THE HELP OF ARTIFICIAL INTELLIGENCE
Sofia to Enforce Complete Ban on Wood and Coal Heating by 2029
Starting in 2029, heating with wood and coal will be entirely banned in Sofia
Bulgaria Secures Engineering Contract with South Korean and American Firms for Kozloduy NPP Expansion
In the coming two months, the company "Kozloduy NPP - New Powers" is set to finalize an engineering contract with a consortium comprised of South Korea's Hyundai Engineering and Construction and the American firm Westinghouse Electric Company.
Bulgaria Faces Continued High Electricity Prices
Electricity prices in Bulgaria remain the highest in the region as August progresses
