Sechin: Rosneft gas prices calculated in accordance with Energy Ministry's directives

Sechin: Rosneft gas prices calculated in accordance with Energy Ministry's directives

Rosneft CEO Igor Sechin said that fair prices have been set at Rosneft gas stations which were calculated in accordance with the Russian Energy Ministry's directives and recommendations.

The Rosneft CEO expressed confidence that government measures on stabilizing Russia's fuel market will allow to contain fuel prices.

Sechin also said he considers as very important the suggestion for every oil company in Russia to send at least 17.5% of their output to oil refineries for the domestic market.

"We extract around 520 mln tonnes of oil annually in the country. We [oil companies] understand very precisely the task set by the president - to saturate the retail market with accessible fuel priced in accordance with economic conditions," TASS cited him as saying.

"What does this mean? [In Russia] we consume 90 mln tonnes of oil products. This is exactly 17.5% of the general output," he said in an interview with Kommersant FM radio station.

"This means that if we saturate the market with this volume, there will be no risk of a deficit," Sechin stressed.

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