Head of the Ministry of Energy of Russia Nikolai Schulginov found premature statements about the sunset of the oil era. According to him, it is still early to talk about it, it is necessary to monetize existing reserves, “Kommersant” reports.
Today 2021, in my opinion, while it is too early to talk about the sunset of the oil era, “the minister noted, adding that not only Russia, but also foreign partners, was adhered to such an opinion.
Schulginov indicated that the refusal of fossil fuels is associated with the global climate agenda and decarbonization trend. Moscow takes these principles, but not yet ready to abandon traditional energy sources.
The head of the Ministry of Energy explained that Russia is annually increasing the volume of oil production. So, in 2020 512.8 million tons were mined, 522 million is expected in 2021. In 2023-2024 – about 560 million tons, and the decrease is expected only in one of the scenarios of the General Development Scheme of the oil industry by 2035.
Earlier, the organization of oil exporters, Russia and other oil producers refused to obey the requirements of the American president Joe Bayiden to accelerate the increase in oil production and intend to maintain a course that provides “stability and balance in the oil market.”