MOSCOW, July 26 (RIA Novosti) - Russia's economics minister said Wednesday that Brent and Urals crude could share the same price by 2012-2013.
German Gref was commenting on a decision to set up an oil refinery cluster in Tatarstan to produce seven million metric tons (51.45 million bbl) of crude oil.
"If we manage to implement this project in Bashkortostan, we will be able to eliminate the discounted prices on Urals brands," Gref said.
The price of Russia's Urals crude per barrel is $5-6 less than that of Brent, which is currently trading at around $74 a barrel.
