Thursday, January 28, 2016

Ministry of Energy confirmed Russia’s participation in the forthcoming meeting of OPEC – RBC

Russia will participate in the meeting of OPEC, which discussed the possibility of decline in oil production. Told reporters the head of the Russian Ministry of Energy Alexander Novak, reports Tass.

Now try to convene a meeting of OPEC countries, it will be held in February, said Novak. It is expected to be involved as members of the organization, as well as countries outside OPEC.

«This initiative came out in the country, now there is a study of the issues among the countries. For our part, confirmed the possibility of their participation in such a meeting, “- said Novak.

During the consultations, the minister said, will address” to assess the situation on the market at low prices and on possible options for co-ordination of production ».

The exact date of the meeting has not been determined, said Novak. It does not depend on Russia, he said: “We are at any time be able to meet. Now there is a study date with other countries ».

Such meetings, the minister said, were in the past, but now the situation has changed on a background of continuing decline in oil prices.

« All estimate how long-term recovery will keep these prices. We consider it appropriate to discuss this situation “, – concluded the Minister.

At the same time, according to Novak, the Russian Energy Ministry has not yet been able to calculate how much production can be reduced and for how long. “No, there is no such calculations. This is a separate, say, the situation, if it comes to that “, – he said.

On the eve of its plans to negotiate a possible reduction in oil production head of” Transneft “Nikolay Tokarev at the end of the meeting the heads of oil companies with Novak . He explained that the initiative was made with the relevant Saudi Arabia. Tokarev also emphasized that the meeting could take place in February, but its exact date is not known yet.

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