Only recently the Arctic shelf has been known as the main hope of the global oil industry - the raw materials’ prices were climbing up, and the traditional deposits were decreasing. The situation changed after the oil prices slumped, making the players delay for long their ambitious plans for development of the Arctic. Anyway, experts do not doubt the sector’s future is still in that severe place, and now businesses are waiting for the prices to hit at least 75 dollars a barrel - this waiting time would be quite good for preparing new technologies, Says a news item of Russian News Agency TASS in Moscow. D ALSO Deputy Director of the Academy of Sciences’ Institute of oil and gas problems, Academician Vasiliy Bogoyavlensky gives an optimistic forecast for oil production on the Arctic’s shelf by 2030 - it cannot be more than 13 million tonnes a year, he said. And still, the Arctic’s severe conditions do not frighten off the oil producing countries, since strategic interests of the...