ST PETERSBURG (Reuters) - Russia will not cede its dominant position in the European oil market, Igor Sechin, chief executive of Russian state-owned oil giant Rosneft said on Friday.
Asked about the growing activity of Saudi Arabia on the European market, Sechin told reporters: "We don't need to react to the activity of the Saudis. Let the Saudis keep an eye out for us, because for now we are not giving up our competitive position."
He said the real battle for market share was outside Europe, in countries such as India and Indonesia, where demand for energy was on the increase.
(Reporting by Denis Dyomkin; Writing by Christian Lowe; Editing by Katya Golubkova)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app