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    Russia's Gazprom Test-Runs $20-25 Per Barrel Oil Price Scenario

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    Russia’s energy giant Gazprom is testing this year’s budget based on oil prices averaging between $20 per barrel to $25 per barrel, the deputy head of the company’s financial and economic department said Monday.

    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.


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