Union of Russia’s Oil and Gas Producers Says Oil Exports in Danger

The president of the Russian Union of Oil and Gas Producers said on Wednesday, March 16, that the country’s oil exports are in danger unless a program of geological exploration of new oil deposits is introduced.

Gennady Shmal, quoted by RIA Novosti said that unless the government and public opinion stop thinking about the oil and gas industry as some “magic wand that works and works and works and doesn’t ask to eat”, soon Russia will lose its oil export capacities.