Novak: expensive oil projects may be "frozen"

Novak: expensive oil projects may be "frozen"

Russian Energy Minister Alexander Novak admits that expensive hydrocarbon projects in the oil sector maybe be postponed due to low oil prices.

"Some new projects will be delayed," Gazeta.ru cites him as saying.

The head of the Ministry of Energy noted that the implementation of those projects that have already been launched and invested in will be continued.

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