Head of the Ministry of Energy Shulginov: it's too early to talk about the end of the oil era, it is necessary to monetize the stock oil era. According to him, it is too early to talk about this, it is necessary to monetize the existing reserves, Kommersant reports.
“Today is 2021, in my opinion, it is too early to talk about the decline of the oil era,” the minister said, adding that this opinion is shared not only by Russia, but also by foreign partners.
Shulginov pointed out that the rejection of fossil fuels is associated with the global climate agenda and the decarbonization trend. Moscow accepts these principles, but is not yet ready to abandon traditional energy sources.
The head of the Ministry of Energy explained that Russia is increasing its oil production every year. So, in 2020, 512.8 million tons were produced, in 2021 522 million are expected. In 2023-2024 – about 560 million tons, and a decrease is expected only in one of the scenarios of the general scheme for the development of the oil industry by 2035.
Earlier, the Organization of Petroleum Exporting Countries, Russia and other oil-producing countries refused to obey to the demands of American President Joe Biden to accelerate the increase in oil production and intend to maintain a course that ensures “stability and balance in the oil market.”