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Rosneft is set to lower oil output, Russian minister says

Published 29/03/2016, 14:07
© Reuters. The logo of Russia's top crude producer Rosneft is seen on the top of a building in Stavropol
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MOSCOW (Reuters) - Rosneft (MM:ROSN), Russia's top oil producer, is set to lower oil output, Russian Natural Resources Minister Sergei Donskoi said on Tuesday, giving no time frame for the decrease.

© Reuters. The logo of Russia's top crude producer Rosneft is seen on the top of a building in Stavropol

He also said he hoped that state-controlled Rosneft will resume drilling for oil in the Arctic. The company suspended drilling in 2014 after its partner ExxonMobil (N:XOM) withdrew from the project because of Western sanctions imposed on Moscow over its role in the conflict in eastern Ukraine.

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