Novak pointed to Russia's provision of 17% of the global energy market

Russia provides 17% of the global energy market. This was announced on October 16 by Deputy Prime Minister Alexander Novak.

"Russia is a world leader, and today we supply about 17% of the global energy resources market to global energy markets. These are oil, petroleum products, and natural pipeline gas <...> and coal, which is in demand despite all the seemingly pessimistic notes," Novak said during a speech at the Russian Energy Week International Forum.

The deputy chairman of the Government of the Russian Federation also noted that the Russian energy industry generates about 10 trillion rubles of investment per year. According to him, the share of energy in Russian GDP is 16-20%.

"Russia remains one of the leading oil producers"

Vladimir Putin's speech at the Russian Energy Week event. Main quotes

On the same day, Russian President Vladimir Putin announced that the country would strengthen its position as a global energy leader. He also stressed that the Russian Federation does not depend on anyone in the nuclear field.

Prior to that, on October 2, Putin said that without Russian oil, the situation in the global energy sector would be unstable. He noted that a drop in Russian oil volumes would instantly send prices above the $100 per barrel target.

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