Diversification of a package of assets is favorable to Saudi Arabia, while it is useful for Russia to have an additional source of revenue

3 june 2015 | STOLITSA FM

The Minister of oil of Saudi Arabia Ali al-Naimi reported that Saudi Arabia is ready to invest in energy projects in Russia, but concrete proposals are necessary for realization of investments.

Alexander Kurdin
Alexander Kurdin
Department for Fuel and Energy Sector

"I do not think that these statements are well-elaborated. Diversification of a package of assets and the possibility of obtaining additional reserves are favorable to Saudi Arabia. And we, in turn, need an additional source of revenue in current difficult conditions, and in some technological aspects, we can help each other,"  Alexander Kurdin, the Head of the Department for Strategic Studies in Energy of the Analytical Center commented on the situation to STOLITSA FM.

Russia took first place in the production of crude oil again, but experts do not see a reason for optimism. "I would not enjoy it. World experts operate other quantities, they talk about production of liquid fuel, which includes not only oil. For this indicator, we are third. The US is the first. It is the main player, which determines the price of oil," said Mr. Kurdin.