VERONA (Sputnik) — Russia's Rosneft oil company could offer European partners $100 billion worth of joint projects, Rosneft CEO Igor Sechin said Thursday.
"According to our estimates, only Rosneft can offer to European partners projects worth more than $100 billion in the development of relations along the Russia-Europe and Russia-Asia-Pacific energy bridges," Sechin said at the Eurasian Forum in Verona.
"In the next year and a half we should see the end to the period of excess supply in the market and the beginning of the normalization process with commercial reserves of oil and petroleum products."
"During that period, despite the slight recovery of shale production in the US, the overall level of oil production in the US will evidently remain below 2015 peaks. The price of oil will exceed $55 per barrel," he added.
