'The crooked cannot be made straight, and what is not, cannot be measured,'

The price of Russian oil: the head of Rosneft began to quote the Old Testament Head of Rosneft Igor Sechin. Illustration: rosneft.ru. The head of Rosneft, Igor Sechin, commented on Western forecasts for the price and supply of Russian oil, which the EU and the US no longer receive. The head of the largest Russian oil company used a phrase from the book of Ecclesiastes, which is included in the Old Testament. "In general, it was written in Ecclesiastes a long time ago: 'The crooked cannot be made straight, and what is not, cannot be measured,'" Igor Sechin said at the India Energy Week conference in Bangalore. He explained that according to price and supply forecasts from Russia, there should not be undue excitement due to discounts. “I think the experts know how to solve these issues. The market accepts any trades and the total of these trades ultimately gives the estimated value used for the calculations. So, if Russian oil does not enter the European market, then there is no reference price for Russian oil that does not enter. Reference prices will be shaped by where the volumes of oil actually go." - said the head of Rosneft. On December 5, the EU imposed a ban on the import of Russian oil and, together with the G7 countries, introduced a price ceiling for raw materials for third countries. The reorientation of deliveries led to a decrease in the price of Russian grade Urals from Baltic and Black Sea ports. Deputy Prime Minister Alexander Novak noted the high rates for tankers due to the high risks of sanctions. According to the Ministry of Finance, in January the average price of the Urals was 50 dollars per barrel, while the budget included 70 dollars, and in November it was still sold at 66.5 dollars per barrel. The ministry estimated that the planned indicators of oil and gas revenues in January will be lower by 52 billion rubles, and in February - by 108 billion rubles. Read more: https://eadaily.com/ru/news/2023/02/06/cena-rossiyskoy-nefti-glava-rosnefti-nachal-citirovat-vethiy-zavet

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