FOTOGRIN/Shutterstock Save for later Print Download Share Russia's ambitious targets for oil production by 2050 would require a significant contribution from the country's vast so-called hard-to-recover reserves, Russian government officials and oil company executives agree. In the light of the new Energy Strategy approved last month, fiscal and technology incentives would be crucial to drive the development of such reserves, which already account for roughly 60% of the country鈥檚 total oil reserves. But the required stimuli could mean higher expenses for the budget, which is already suffering from sanctions-related pressures.
