The Russian energy giant Rosneft is reducing its investment program to RUB 750 billion in 2020, which is RUB 200 billion less than in 2019, according to Meduza.

Rosneft CEO Igor Seching says the decision to reduce investment costs was made because of the dramatic state of the global oil market as well as the decision to reduce global oil production.

Meeting with Russian President Vladimir Putin in the Kremlin on 12 May, Sechin asked for increased credit limits and "transferring tax payments".