Russian Rosneft expects a fierce war on the oil markets
Thursday - June 16 2016
Igor Sechin, CEO major Russian oil producing companies Rosneft and the most important CEOs said the energy sector that is expected to intensify the struggle for market share in the energy market Alaalmih.oucael Sechin rationale for planning Russia to sell approximately 20 percent of Rosneft's shares under the privatization scheme broader said The company's share price is not commensurate with the basic factoring. Sechin said in a press statement: The main challenge for the Russian energy sector is the sharp increase in competitive global energy markets. In the future we expect fierce competition to maintain share in traditional markets and to increase the stake in the new energy markets. "And make their Russia en route to Asian markets, where Saudi Arabia was the dominant undisputed supplier in the past. For its part, Riyadh received severe a reduction in prices in the backyard of Moscow in Ooroba.ovi last year, said Sechin Saudi Arabia has begun to supply Poland's formerly communist oil prices "extremely low", while Russian energy Minister Alexander Novak said the entry of Saudi Arabia Eastern European markets is the "most competitive." he said Sechin, who knew a sharp critic of the Organization of the Petroleum exporting countries (OPEC ) the global market has been facing a shortage of oil during the period of between three and five years have producers need to sign an agreement to share the increased production and use of stocks Alastratejah.oukal "up the market to equilibrium faster than analysts expected." in comments on the state plans to sell about 20 percent of Rosneft Sechin said that under the impact of falling oil prices and international sanctions imposed on Russia over Ukrainian crisis on the company's share price there is a need to think in a broader Ntaca.oukal Options "we believe it would be wise to think of different options, including inviting a strategic investor in the light of the current difficult situation." Sechin did not rule out the possibility of the participation of the Italian Eni source projects in Russia. To oil prices fell for the fifth straight session on Wednesday in the longest wave of losses since February, influenced by growing fears that Britain's exit from the European Union and a surprise increase in US inventories. By 0920 GMT, futures for Brent crude fell 64 cents to $ 49.19 a barrel, while US crude down 52 cents to $ 47.97. A series of disruptions of production in Nigeria and Venezuela, Libya and Canada pushed oil prices higher 2016 levels at $ 52.86 week Almadi.lkn American Petroleum Institute data showed a rise in US crude inventories of 1.2 million barrels in the week ending on the tenth of June, to 536.7 million while the forecast analysts for a decline of 2.3 million barrels.