Russia Oil Output Relies on Foreign Investment, Sechin Tells WSJ
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Russia will need foreign investment from companies including Exxon Mobil Corp. to maintain its position as an oil superpower, the Wall Street Journal reported, citing an interview with Deputy Prime Minister Igor Sechin.
As much as 40 percent of Russia’s oil output will come from Arctic waters and the Black Sea by 2030, Sechin said in an interview given on April 18 and reported on the Journal’s website yesterday. Russia isn’t extracting oil from those sources and will need foreign investment to do so, the Journal cited Sechin as saying.