Skip to comments.Russia’s Rosneft At It Again, To Sink Billions More In New Oil Fields
Posted on 07/16/2013 8:56:06 AM PDT by KMR
Guys...remember the Peak Oil debates? They seem to have, well, peaked. Check out all the money Russian oil giant Rosneft is throwing around at global oil supplies these days.
(Excerpt) Read more at forbes.com ...
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CEO Igor Sechin known as the Darth Vader of Russian ex-KGB/state-run business leaders said Rosneft was ready to invest 1 trillion rubles (about $31 billion) to explore and develop oil fields in eastern Siberia and Russias far east over the next five years.
Sechin was speaking to the Russian media during a video conference with President Vladimir Putin.
In the next five years our investment in East Siberia and the Far East in a conservative scenario may total 1 trillion rubles, Sechin said.
Rosneft will invest 52 billion rubles ($1.6 billion) this year in developing its core activities in the Russian Far East, Sechin said, including 27 billion rubles ($830 million) in exploration and production, and 23 billion rubles ($705 million) in refining, Ria Novosti newswire reported on Tuesday.
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