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Russia sees no certification risk for Nord Stream 2

Iran preps to aggressively reclaim key Asian oil markets when sanctions lift

OPEC leaders mock IEA s la-la land 2050 net zero roadmap

OPEC leaders mock IEA’s “la-la land” 2050 net zero roadmap By Dina Khrennikova and Olga Tanas on 6/3/2021 MOSCOW (Bloomberg) The world’s largest petrostates rejected calls for a rapid shift away from oil and gas, warning that starving the industry of investment would harm the global economy. Russian Deputy Prime Minister Alexander Novak If the world were to follow the International Energy Agency’s controversial road map, which said investment in new fields would have to stop immediately to achieve net-zero carbon emissions by 2050, “the price for oil will go to, what, $200? Gas prices will skyrocket,” said Russian Deputy Prime Minister Alexander Novak.

Suspending investment in oil to push price up to $200 per barrel, says Novak

Deputy Prime Minister expects volatility to intensify on the oil market Russian Deputy Prime Minister Alexander Novak© Sergei Savostyanov/TASS ST. PETERSBURG, June 3. /TASS/. It is currently impossible to suspend investment in new oil production projects as the price will otherwise reach $200 per barrel, Deputy Prime Minister Alexander Novak said at the St. Petersburg International Economic Forum on Thursday. I cannot imagine a situation, for example, where investments in new projects are suspended starting tomorrow. What comes next? The oil price will probably reach $200 [per barrel], he said. Moreover, Novak expects volatility to intensify on the oil market. We have to be more responsible regarding any proposals being made in this respect, he noted.

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