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Monday, June 14, 2021

Here is Rosneft’s head Igor Sechin warning on an ‘acute’ oil shortage (spoiler

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Igor Sechin heads Russian oil major Rosneft, the world’s second-largest oil producing company by output after Saudi Aramco.

Speaking over the weekend, said the world was facing an acute oil shortage in the long-term

  • Said this is due to underinvestment amid a drive for alternative energy, while oil demand continued to rise.

His outlook nearer-term:

  • it was hard to predict when the global economy would recover from the COVID-19 pandemic
  • due to “lots of uncertainties” & slow vaccination programmes in some regions
  • expected some shortages to kick in from the second half of 2021
Igor Sechin heads Russian oil major Rosneft, the world's second-largest oil producing company by output after Saudi Aramco.



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