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2019-02-20 11:45:00

RUSSIA, SAUDI ARABIA COOPERATION

RUSSIA, SAUDI ARABIA COOPERATION

PLATTS - Russian President Vladimir Putin and Saudi King Salman bin Abdulaziz confirmed they are ready to continue cooperation on hydrocarbons during a phone call Tuesday, the Kremlin said in a statement.

"When exchanging views on the situation on global hydrocarbons markets, Russia and Saudi Arabia confirmed they are ready to continue coordination," the Kremlin statement said.

Russia and Saudi Arabia have ramped up energy cooperation in recent years, working together to establish the OPEC/non-OPEC production agreement as well as bilateral agreements on joint energy investment. Officials said previously  that they are in talks over cooperation on LNG, crude, oil services and petrochemical projects.

Putin is expected to visit Saudi Arabia in 2019.

 

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Earlier:

RUSSIA, SAUDI ARABIA COOPERATION
2019, February, 15, 12:00:00
OPEC REMAINS HARD
PLATTS - "Our primary objective is to ensure that the oil market remains in balance throughout 2019 and beyond in order to build on the success of the past couple of years," added Barkindo.
RUSSIA, SAUDI ARABIA COOPERATION
2019, February, 13, 12:15:00
OPEC OIL PRODUCTION 30.81 MBD
PLATTS - OPEC has painted a bearish picture for 2019, with demand for its crude oil expected to fall due to weak demand growth and a sharp rise in output from producers outside the group.
RUSSIA, SAUDI ARABIA COOPERATION
2019, February, 13, 12:10:00
OPEC ISN'T A CARTEL
REUTERS - OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices, when asked on Monday to comment on a U.S. House committee passing a bill targeting OPEC oil supply cuts.
RUSSIA, SAUDI ARABIA COOPERATION
2019, February, 8, 12:10:00
OPEC PRODUCTION DOWN 970 TBD
PLATTS - OPEC pumped the fewest barrels since March 2015 in January, with crude output plunging to 30.86 million b/d, a fall of 970,000 b/d from December as new supply quotas went into force, according to an S&P Global Platts survey of industry officials, analysts and shipping data.
RUSSIA, SAUDI ARABIA COOPERATION
2019, February, 1, 11:35:00
OIL MARKET IS CALM
PLATTS- Russian energy minister Alexander Novak said Wednesday that he does not currently see a need to take any extra measures or call for an extra meeting by the OPEC/non-OPEC group over the crisis in Venezuela. "We haven't discussed the situation with [Saudi energy] minister Falih, or other ministers," Novak told reporters. "The markets are currently calm ... and the volatility is insignificant. So there is no need for the extra meeting of OPEC+, at least the Russian side thinks so."
RUSSIA, SAUDI ARABIA COOPERATION
2019, January, 21, 11:50:00
OPEC CONFORMITY LEVEL 98%
OPEC - The JMMC calls on all participating countries of the ‘Declaration of Cooperation’ to redouble their efforts in the full and timely implementation of the supply adjustments to ensure that the oil market remains in balance in 2019.
RUSSIA, SAUDI ARABIA COOPERATION
2019, January, 18, 10:40:00
RUSSIA WILL CUT FASTER
BLOOMBERG - “Of course, we will try to make the cuts faster,” Energy Minister Alexander Novak told reporters in Belgrade, Serbia. “We have our limitations of a technological nature, yet we will aim to reach the levels we agreed on.”
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Tags: RUSSIA, SAUDI ARABIA, OPEC, OIL, PRODUCTION, PRICE