"The renewable sources of energy are yet unable to provide the necessary volume to substitute the traditional energy resources and sustainable energy supply…. Thus, oil and gas bear the main workload on satisfying the demand of the global economy. The oil and gas energy was and will be in demand until 2050 and after," Sechin said.
Sechin also said that the existing resources of Rosneft allow the company to increase its oil production by 500 million tonnes in 20 years if to compare with the existing plans.
"Our analyses shows that the existing resources allow us to produce by 500 million tonnes of oil more over a period of 20 years in comparison with our existing technical plans. But it could be done only if the efficiency of the production processes grows," Sechin said.
According to the Rosneft official, the company's strategic advantages include huge resources in the regions with developed infrastructure and the offshore resources are the company's strategic prospects.
"Last year, Rosneft became the greatest independent gas producer in Russia and reached the sixth place in the world in terms of gas production among public companies. Our task is to become the third company in the world in the beginning of the next decade," Sechin said.
"We have set a goal to achieve a prime cost similar to the one of Saudi Aramco in the long-term. This will guarantee to both Rosneft and to Russia's oil and gas sector the leadership in world's energy sphere," he said.
"Within the framework of the situation, when oil prices are on the level of $40 per barrel for rather a long-term, half of global oil output will be loss-making. The oil production would be unprofitable at Brazil's deep water sands, at Canada's oil sands. The shale oil producers will face difficulties apart from [the ones working at] highly effective areas in the Permian Basin," Sechin said.
"Only producers from Russia, Saudi Arabia, several effective projects in the United States, Iran and projects in some other countries are able to maintain sustainability under the low oil prices," the Rosneft official said.
“With regard to the logistics and trading we have already learned to get the greatest margin in selling our oil and oil products, we are developing new sales markets, we continue to develop international trading, plan to open a new office in Singapore,” Sechin said.
