Sechin tells traders about market at London IP week

President of Rosneft, got under sanctions of the US and Europe, Igor Sechin has unexpectedly delivered a keynote speech at the International Petroleum Week (IP Week) in London, where mainly oil traders usually participate. However, he talked not about the sanctions, but about his vision of the market and low oil prices. The head of Rosneft called fair price of $60-80 per barrel, warned small and medium oil companies of impending problems and even complained about the protectionist government regulation.

Yesterday, the president of Rosneft Igor Sechin spoke at the International Petroleum (IP) Week in London. The organizers invited the Rosneft’s head to the event, but initially he wasn’t included in the program, as there was no confidence in his arrival. Previously, the Russian state-owned company limited itself by secondment of top managers of the lower level to the London conference, which mainly involved oil traders. Leaders of producing companies speak at IP Week infrequently: among the first persons of the big companies only Ian Taylor of Vitol participated in one session with Igor Sechin. "Rosneft is a major player on the global market, and whatever policy it is interesting to know its vision for the future," - one of the participants of IP Week said to the Kommersant.