Igor Shuvalov, an aide to Russian President Putin said that Russia could reduce its oil prices by reducing its taxes if the Stabilization Fund, a fund that accrues surplus revenues from high world oil prices, exceeds $100 Billion, according to this article.
The article adds that Russia is welcoming foreign companies for the development of Shtokman, its gas field project off Russia's Arctic coast with Gazprom, the state controlled energy giant.