The most conservative oil company in Russia Surgutneftegas is ready to revise its investment program, because of oil price decline. Rosneft has done stress test of working conditions with the price of $40.00 per barrel and since early this year its competitors have switched to a monthly planning of the current activities. Even the officials are forced to change the plans: they are re-writing Russia’s energy strategy, reported RBC.
Central Bank considers the scenarios of development with the oil prices of $40.00 per barrel, Kseniya Yudayeva, deputy chairman of the bank, said last week. Vagit Alekperov, LUKoil co-owner, did not rule out that in short term Brent oil price could drop to $25.00 per barrel.
He said not only the lowest limit of the price is important, but also the size of fluctuations: last Thursday the price varied within the limit of 10%, “which has never happened before,” said TACC.
RBC source from Rosneft claims that last year it based the stress scenario of the works on the price of $40.00 per barrel.
