$30 per barrel are not so tragic for Russia

Cost of oil production in Russia is approximately the same as in Saudi Arabia. This will allow the largest Russian oil company to hold at the price of $30 per barrel.

In conditions of low prices, large Russian oil companies don’t panic. Anyway, nobody stated bankruptcy or a significant reduction in investment. Their management periodically encourages investors and shareholders, and, it seems, quite justified. Last comforting statement was made vice president of Rosneft Viktor Ishayev, who assured that the company would be able to survive even at the price of $30 per barrel. However, the Treasury will miss the windfall.

"Rosneft will hold at the price of oil in the amount of $30 per barrel, but at these prices, we can’t generate the same amount of payments to the budget of the Russian Federation, as at the price of $70. Today serious work to find partners and financial resources to maintain the rightful place in the Russian economy, which the company holds, is carried out. There is no panic. There are investment projects in the Far East,"- said Ishayev. According to him, last year, Rosneft transferred the taxes in the amount of 3.05 trillion rubles to the budget, in 2013 - 2.7 trillion rubles. Last year, the total production volume of the Russian companies amounted to 520 million tons, 215 million of which was the share of Rosneft. That is, its share of the oil and gas revenues of the Russian budget is 52%.