Igor Sechin, the head of Russia’s Rosneft oil and gas company, estimated the value of Russia's natural resources at $100 trillion, which is almost twice as much as that of the United States of America.
According to Sechin, in order to raise the standard of living of developing countries to "at least half" the level of the "golden billion", it is necessary to increase oil production by almost two times. In his opinion, the "golden billion" covers about 12% of the world's population, acentury.ru reports.
The head of Rosneft said that the Arctic contains more than 20% of all undiscovered oil and natural gas reserves of the planet, while 80% of all Arctic oil and gas reserves of the world are concentrated in the Russian part of the region.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
