Oil production projects in offshore Arctic remain loss-making
Good services can make living in Arctic more attractive.
Kazan - TASS
Projects of oil production on the Russian Arctic shelf remain loss-making even under current relatively high prices, President of the Union of Oil & Gas Producers of Russia Gennady Shmal said on Tuesday.
"Speaking about the present and even about the future, all the Arctic projects are too expensive so far. I estimated that not a single Arctic shelf project will make profit even against current oil prices, and these are not the lowest - over $70 a barrel," he said.
Exploration and the Northern Sea Route should be developed and infrastructure is required to be set up in order to make Arctic production profitable, Shmal noted.
Forecast resources of hydrocarbons in the Russian Arctic region are estimated at 100 bln tonnes of oil equivalent. In 2016, the Russian government made a decision to impose a temporary moratorium on Arctic shelf licenses extension.
The profitable oil price for production on the Arctic shelf is $70-100 per barrel, Russian Energy Minister Alexander Novak said earlier.
- Sunday ,02 December GMT 14:02 2018 RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fund
- Wednesday ,21 November GMT 07:59 2018 Merkel policies in focus in final debate on draft German budget
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:59 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 16:57 2018 Wednesday ,31 October
Putin to discuss relations development prospectsGMT 16:04 2018 Monday ,29 October
Russian, Cuban presidents to discuss strategic partnershipGMT 12:57 2018 Saturday ,27 October
"Undeclared war" forces Russia to boost defense spendingGMT 15:45 2018 Friday ,26 October
Medvedev to represent Russia at upcoming APEC summitGMT 14:12 2018 Thursday ,25 October
Saudi Arabia plans to invest in Russian-Chinese Fund soon
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 05:18 2017 Wednesday ,23 August
Date set for Amwaj Gateway public auction
GMT 07:47 2017 Monday ,06 March
UAE Cabinet dedicates Year of Giving strategy to martyrs
GMT 22:39 2015 Friday ,15 May
European rules making cinema 'more irrelevant'
GMT 21:29 2017 Thursday ,19 October
Sisi approves Italian grant for Islamic museum
GMT 07:49 2017 Friday ,12 May
New airport in Pakistan's capital to open in August: Nawaz
GMT 03:05 2017 Wednesday ,06 December
Foreign affairs minister to visit Rakhine State
GMT 00:14 2017 Tuesday ,05 December
Russian parliamentary delegation visits Military Museum
GMT 11:45 2017 Friday ,21 April
Morrocan star Saad Lamjarred dedicates a video to his fans
GMT 02:15 2016 Monday ,26 December
PM: Gov’t seeks to provide medicines at affordable prices
GMT 23:25 2017 Monday ,07 August
East China factory explosion kills 65, injures 100
GMT 19:10 2017 Tuesday ,21 February
US senators consider sanctions against Iran for missile development
GMT 09:35 2015 Friday ,27 February
Lloyds Banking Group returns to profit
GMT 03:07 2018 Wednesday ,17 January
Four years and one caliphate later, IS claims Idlib comeback
GMT 11:23 2015 Sunday ,30 August
Prebiotic dairy protein promotes digestive health
GMT 13:25 2016 Wednesday ,25 May
2 Russian prisoners, swapped for Ukrainian pilot, land in Moscow
GMT 19:48 2017 Friday ,17 February
Coalition warplanes strike tribal leader's house in Sanaa
GMT 03:04 2017 Saturday ,09 December
Better US-China economic cooperation than trade war
GMT 03:49 2017 Monday ,24 July
He has no love for the game
GMT 18:52 2017 Tuesday ,22 August
Second academic journal pressed
GMT 00:00 2017 Friday ,13 October
August24th-September23rd
GMT 08:18 2017 Tuesday ,04 April
Trump looks to rebuild Egypt relations with Sisi visit
GMT 13:49 2017 Monday ,16 January
Chelsea's Conte not wary of poaching by Chinese clubs
GMT 11:37 2016 Monday ,14 March
Chinese coal miners strike over wages, layoffs
GMT 10:33 2016 Monday ,12 December
EU, Cuba sign pact to normalise relations
GMT 08:21 2017 Thursday ,30 March
Brazil aerospace sector seeks to dodge economic turbulence
GMT 03:27 2015 Sunday ,28 June
Kenny Loggins to guest star in comedy series 'Playing House'GMT 06:18 2011 Wednesday ,02 March
British guns killing Libyans
GMT 12:22 2017 Wednesday ,28 June
NATO: 2017 defence spending to rise 4.3%, excluding US
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor