Earlier this year Russia introduced a voluntary cut of 500,000 b/d from March after EU sanctions on imports of most Russian oil and G7 price caps came into force.

Уникальная транспортная артерия “Север – Юг”, частью которой станет железная дорога Решт – Астара, поможет существенно диверсифицировать глобальные транспортные потоки.

China currently has the second largest number of nuclear plants globally comprising 56 reactors, with 20 units under construction, which will account for 10-15% of power production by 2035.

They expressed satisfaction with the level of coordination at OPEC Plus aimed at ensuring the global oil market stability.

Since Western sanctions over the war in Ukraine cut off Russia from many of its established trading partners, state companies from Saudi Arabia and the United Arab Emirates have stepped in to take advantage of discounted prices for Russian products,

Делегаты встречи подтвердили приверженность решению альянса от 5 октября 2022 года по ограничению добычи нефти на 2 млн баррелей в сутки (к уровню августа 2022 года) до конца 2023 года, а также призвали все страны-участницы добиться полного соответствия условиям соглашения и придерживаться компенсационного механизма.

This will bring the total additional voluntary production adjustments by the above-mentioned countries to 1.66 million b/d.

Since Turkey can legitimately still import diesel-type fuel from Russia, traders can potentially bring in relatively cheap barrels to meet the country’s energy needs. At the same time, Turkey’s own production could be sold at a higher price to the EU.

Both sides expressed satisfaction with the positive dynamic of trade and economic relations, the successful implementation of joint strategic power engineering projects, including gas supplies, and the construction of the Akkuyu Nuclear Power Plant in Türkiye.

In October, OPEC and its partners took the unusual step of assigning fixed production targets for a full year ahead. Key officials have indicated they intend to leave the quotas unchanged throughout 2023, and the comments from Prince Abdulaziz bin Salman are the most emphatic to date.

CNPC's talks follow a deal announced last November by China's Sinopec, in which QatarEnergy agreed to supply 4 million tonnes of LNG annually for 27 years, the longest duration LNG supply contract ever signed by Qatar.

Moscow’s move deepens the 2 million barrel-a-day production cut announced late last year by OPEC+, which Russia leads along with Saudi Arabia.

Александр Новак подчеркнул, что позиции России и Ирана созвучны по целому ряду направлений международной повестки. Обе страны нацелены на равноправный, взаимовыгодный диалог и остаются надёжными деловыми партнёрами.

The UAE's Minister of Foreign Affairs and International Cooperation Abdullah bin Zayed Al Nahyan, France's Minister for Europe and Foreign Affairs Catherine Colonna and India's Minister of External Affairs Subrahmanyam Jaishankar agreed to establish a formal trilateral cooperation initiative last September

OPEC+ is a 23-country bloc of oil producing countries co-chaired by Saudi Arabia and Russia. It agreed in October to slash quotas by 2 million b/d from November until the end of 2023.