The resource curse starts melting in the Arctic.

"Rosneft" happens to have less oil on the shelf.

Last year "Rosneft" lowered its estimate of the prospective resources of hydrocarbons by 10%- to 41.8 billion tons of oil equivalent (o.e.). The decrease was caused by the revaluation of resources in offshore areas of the Black Sea and the Arctic. The analysts are not surprised with the revision: the data was preliminary, but these results may cause a further decrease in investor interest in the development of the Arctic shelf, which began after the Western sanctions and falling oil prices.

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Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
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