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2016-08-15 19:00:00

RUSSIA - SAUDI TALKS

ДИАЛОГ РОССИИ И САУДОВСКОЙ АРАВИИ

REUTERS published, Russia, the world's top oil producer, is consulting with Saudi Arabia and other producers to achieve oil market stability, Energy Minister Alexander Novak said, adding that the door is still open for more discussions on freezing output levels if needed.

In an interview published on Monday Novak also told Saudi-owned newspaper Asharq al-Awsat that a complete return of market stability is only likely in 2017.

"With regard to the cooperation with Saudi Arabia, the dialogue between our two countries is developing in a tangible way, whether in the framework of a multi-party structure or on a bilateral level," Novak was quoted as saying.

"We are cooperating in the framework of consultations regarding the oil market with OPEC countries and producers from outside the organization, and are determined to continue dialogue to achieve market stability," he said.

"We are ready to achieve the widest possible level of coordination... and put in place joint measures to achieve oil market stability, with the condition that these measures will not be for a limited period of time."

Novak's comments come only days after Saudi Arabian Energy Minister Khalid al-Falih said his country would work with OPEC and non-OPEC members to help stabilize oil markets.

An informal meeting of major producing countries is scheduled in Algeria late next month.

Members of the Organization of the Petroleum Exporting Countries (OPEC) will meet on the sidelines of the International Energy Forum (IEF), which groups producers and consumers, in Algeria from Sept. 26-28.

Oil prices extended gains after Falih's remarks on Thursday, which indicated that Saudi Arabia, OPEC's largest producer, is worried that oil prices could fall toward $40 per barrel or lower due to oversupply.

Talks on a global oil production level freeze collapsed in April. OPEC member Iran has been the main opponent of a freeze as it looks to raise its output to levels seen before the imposition of now-ended Western sanctions.

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Earlier: 

SAUDI RAISES PRICES 

SAUDI - IRAN COMPETITION 

SAUDI'S OIL PRODUCTION: 10.67 MBD 

SAUDI'S PRICE DOWN 

IMF WANT SAUDI

 

 

 

 

Tags: RUSSIA, SAUDI, OIL, PRICES

Chronicle:

ДИАЛОГ РОССИИ И САУДОВСКОЙ АРАВИИ
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

ДИАЛОГ РОССИИ И САУДОВСКОЙ АРАВИИ
2017, December, 15, 12:45:00

BP INVESTS TO SOLAR

BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.

ДИАЛОГ РОССИИ И САУДОВСКОЙ АРАВИИ
2017, December, 13, 12:40:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.

ДИАЛОГ РОССИИ И САУДОВСКОЙ АРАВИИ
2017, December, 13, 12:35:00

RUSSIAN-TURKISH NUCLEAR

ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.

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