Gazprom Can Fulfill 2015 Budget with Oil at $40/barrel

Russia's state-owned gas producer Gazprom will be able to fulfill its 2015 budget even with oil at $40 per barrel, news agency RIA Novosti cited the chief financial officer as saying on Wednesday.

 

"Even with the price of oil at $40 per barrel ... we are able to execute and implement the investment program that we have budgeted," RIA quoted Andrei Kruglov as saying.

 

Gazprom's contracts are linked to the price of crude oil, which has roughly halved since last June, with gas prices lagging oil prices by six to nine months.