Alexander Novak and Pavel Sorokin held a meeting on the oil and gas complex

02.09.2020       

Minister of Energy of the Russian Federation Alexander Novak held a meeting on the current state and prospects for the development of the oil and gas industry of the Russian Federation. The meeting was also attended by the Governor of the Khanty-Mansiysk Autonomous Okrug – Yugra Natalya Komarova, representatives of the State Duma of the Russian Federation and oil companies.

The meeting participants discussed current trends and the current situation in the development of the oil and gas industry. The fuel and energy complex remains the key sector of the economy, which forms the budget, orders and investments for industry, scientific institutions, the Minister emphasized.

“In 2020, we expect lower production, lower demand, and therefore lower investment. At the same time, positive dynamics are already being observed today, in particular, in terms of demand - oil and fuel demand has recovered to 90% of the pre-crisis level. The dynamics of prices for oil products is within the limits of inflation, the price of gasoline has increased by 1.4-2% since the beginning of the year, with general inflation up to 3%. This is a very good indicator.

Among the initiatives to develop subsoil production, Alexander Novak noted the improvement of the tax system, including the introduction of a tax on added income, measures to stimulate production in the Arctic zone , as well as the creation of technologies for the development of hard-to-recover hydrocarbons and support for the work of oilfield service companies.