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Russian President Vladimir Putin said that Russia has no shortage of such natural resources as oil. gas. coal. as their new reserves are systematically discovered.
Russian President Vladimir Putin said at a meeting with children in the Black Sea resort of Sochi that such natural resources as oil. gas. coal will not end in Russia anytime soon. as their new reserves are systematically discovered.
`First of all. it will not happen for a long time as more and more reserves are being discovered. this applies to all hydrocarbons — oil. gas and coal.` Putin said answering the question about how the president sees the country`s energy future when it will run out of major resources. such as oil. gas. and coal.
In late 2016. Organization of the Petroleum Exporting Countries (OPEC) member states. including Saudi Arabia signed an agreement in Vienna on limiting oil production by 1.2 million barrels per day to 32.5 million barrels per day for the whole cartel and 11 non-OPEC countries decided to jointly cut oil output by 558.000 barrels per day with Russia cutting the output by 300.000 barrels per day. The measure came to boost oil prices and is expected to stay in effect until 2018.
