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2016-11-24 18:35:00

RUSSIA CAN CUT 300 TBD

RUSSIA CAN CUT 300 TBD

According to REUTERS, Russia could revise down its 2017 oil production plans if a global output freeze pact comes into force, Russian Energy Minister Alexander Novak said on Thursday.

"According to our plans, (Russian) oil output is going up next year. If we keep production at the current level we are making our contribution, for us that essentially means a cut of 200,000-300,000 barrels per day (in 2017)", he told journalists.

OPEC nations are due to meet on Nov. 30 to try to finalize a pact on freezing oil prices.

Russian oil companies say they will boost output next year after reaching record levels in recent months, by continuing to commission new oilfields.

Those oil fields that have been put on stream in 2016 will continue pumping oil in 2017 and "as a matter of fact we will cut production on the brown fields," Novak said, referring to fields that have already been producing oil for some years.

Consultations with OPEC are going positively and Russia will hold talks with a number of oil-producing non-OPEC nations, including Kazakhstan and Mexico, the minister said.

No contacts on the global oil freeze have been held with the United States and contacts with Norway show that Oslo would not be taking part in the deal, Novak said.

-----

Earlier: 

RUSSIA IS READY 

RUSSIAN INVESTMENTS TO IRAN 

RUSSIAN DECISION: $6 BLN 

RUSSIA - SAUDI COMPETITION 

IRAN - RUSSIA COOPERATION

 

 

Tags: RUSSIA, OIL, PRODUCTION, OPEC

Chronicle:

RUSSIA CAN CUT 300 TBD
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

RUSSIA CAN CUT 300 TBD
September, 22, 08:45:00

IRAN'S GAS EXPORT: ABOVE 5 BCM

Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.

RUSSIA CAN CUT 300 TBD
September, 22, 08:40:00

IRAQI OIL TO U.S.

Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.

RUSSIA CAN CUT 300 TBD
September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

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