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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.

Russian economy emerging from crisis caused by pandemic — Putin

Russian economy emerging from crisis caused by pandemic — Putin According to the President, entrepreneurs know about the state of affairs in the economy better than anyone else, they feel it in the course of practical work on a daily basis © Sergei Ilyin/Russian Presidential Press and Information Office/TASS ST.PETERSBURG, June 3. / TASS /. Russian President Vladimir Putin said that the domestic economy is emerging from the crisis caused by the coronavirus pandemic at the St. Petersburg International Economic Forum on Thursday. Ongoing work continues, despite any difficulties, including those associated with the coronavirus epidemic. The best confirmation of this is the results of the Russian economy as a whole, said President Putin.

Russia requires hundreds of incinerators to produce clean energy — president s envoy

Russia requires hundreds of incinerators to produce clean energy — president s envoy Five plants are already under construction, while 25 more are going to be built, Special Presidential Representative for Environmental Protection, Ecology and Transport Sergei Ivanov added ST. PETERSBURG, June 3. / TASS /. Russia needs hundreds of incineration plants to generate clean energy since waste will never run out, Special Presidential Representative for Environmental Protection, Ecology and Transport Sergei Ivanov stated at the St. Petersburg International Economic Forum on Thursday. Garbage will never end. It is just like the forest, the wind and the sun. I hope the sun will not go out, the wind will always be. We need to build incinerators so that there is less waste and more clean energy, Ivanov noted.

Both Russia and US have problems over aging orbital outpost, says Roscosmos chief

Iran can offer up to 1 5 mln barrels/day of extra oil to market - Lukoil VP

This volume can be quickly supplied to the market, Leonid Fedun noted ST. PETERSBURG, June 3. /TASS/. If sanctions are lifted, Iran will be able to offer up to 1.5 mln barrels of oil per day to the market in the near time, Vice President of Lukoil Leonid Fedun told reporters on the sidelines of the St. Petersburg International Economic Forum on Thursday. Up to 1.5 mln barrels daily, the top manager said. This volume can be quickly supplied to the market, he added. The factor of Iran is the key one for OPEC and it is more important than the demand on the global oil market, the top manager said.

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