MOSCOW (Sputnik) – Gazprom is the world's largest natural gas extraction firm, accounting for 12 percent of the global gas output, according to the company. The Russian government holds a majority stake in the company.
"We are now working on analyzing scenarios with an average oil price of $25 and $20 per barrel," Igor Shatalov said at the Investor Day webcast in New York.
Shatalov said the company tailored its budget based on oil price forecasts of $35 per barrel, allowing it to adapt to market realities.
"The budgeted $50 per barrel oil price was below most analysts' forecasts," he observed.
