Rosneft's Sechin says Russia can't cut production immediately
MOSCOW Nov 25 (Reuters) - Russia's most powerful oil official Igor Sechin said on Tuesday that due to the specifics of the Russian oil industry, Russia could not reduce output levels immediately but could do this in the mid to long term.
Sechin, the chief executive of state oil producer Rosneft , said in a statement that Russia was not suffering much from the recent slide in oil prices.
But he said the fall in oil prices could lead to some capital-intensive projects being delayed. (Reporting by Dmitri Zhdannikov; Writing by Alexander Winning; Editing by Polina Devitt)
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