Good sign: Russia is planning to increase the oil export in 2016.
2016-01-19
According to news report, Russia Minister of Energy told the Media recently, Russia is planning to increase the oil exploration in 2016, and a small increase in oil export.
Minister said, although the international oil market is at a downturn, the oil production and exploration in Russia are still going on, all of the items that have started will be carried out. The oil company is expected to increase the oil production and export volume at a small margin. He also said, maybe the average level of the international oil price will be kept between $30--$50 per barrel, the whole market is reducing the investment, and compared with the crisis before, it will need a longer time to find the balance between supply and demand, we could say it will be the longest crisis in recent 45years. In consideration of this situation, the Minister suggest the Russia oil companies to make a pressure test at price $25-$30 per barrel.
This news is undoubtedly a good news to Kolanky. Russia Oil exploration Market is one of our biggest market, and our products (drilling fluid additives and cementing additives) are well accepted in Russia, we believe our 2016 will be a very fruitful year.
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