Russian watchdog expects fuel reserve growth slowdown in ‘17–19

MOSCOW, Mar 22 (PRIME) -- Russia’s Federal Service for Natural Resources Oversight forecasts slower reserve growth in 2017–2019 due to decrease of financing, the authority said in a statement on Tuesday.

“It seems that lower financing of research and the decline of the scope of real work in 2015–2016 will lead to a reduction of reserve growth in 2017–2019,” the watchdog said.

It also said that Russia’s reserves will be replenished throughout the entire forecasted period, which means that newly found reserves will offset output.

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