Ufa, July 8. – The Russian Minister of Energy Alexander Novak participated in the meeting of President of  Russia Vladimir Putin and Chairman of the People's Republic of China Xi Jinping.

The Russian Minister of Energy Alexander Novak said that Russian business has adapted to lower world oil prices and still remain competitive due to relatively low cost of production. He told this to correspondents of the Spanish newspaper El Mundo in an interview.

Source: http://www.minenergo.gov.ru/press/fold15/2895.html (full interview)

Russian oil and gas industry has adapted to the challenges of low oil prices. This was stated by Minister of Energy of Russian Federation Alexander Novak in an interview with the German newspaper Handelsblatt.