The Role of the Oil Industry in the Russian Federation: Meeting Domestic Needs and Supporting the Economy

2023-09-04 17:50:00

The main task of the oil industry in the Russian Federation is to support the needs of the country itself. Russian President Vladimir Putin spoke regarding this at a meeting on the implementation of the project for the production of Murmansk liquefied natural gas (LNG).

“I want to emphasize that the main task of the oil and gas industry, the entire domestic fuel and energy complex (fuel industry) is to meet our country’s own needs, the interests of our economy,” Vladimir Putin stressed. His words are reported by RIA Novosti.

The Russian head clarified that it is also necessary to support the interests of Russian consumers of all categories – legal entities and individuals. Support is needed for the country’s most important gasification programs, the president summed up.

At the end of August, Putin emphasized the development of yet another key industry in country – the coal industry. In this area, modern technologies are used, new markets are found. The President also spoke regarding the support manufacturing industry in Russia.

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