“Rosneft” asks the Ministry to agree in advance about the future of a graceful exit from the transaction OPEC+
“Rosneft” has asked the head of Ministry Alexander Novak to coordinate a smooth mechanism for exit in the future from the agreement with OPEC to reduce oil production. About it as transfers “Interfax”, said the head of “Rosneft” Igor Sechin.
“We appealed to our Minister with a request to coordinate with partners such a mechanism work in the framework of the agreement that the exit was quite smooth,” the Poyang it.
Sechin said that “Rosneft” is ready for any situation on the oil market, but more interested in stabilizing exchange rate policy, which gives the company additional resources. According to him, the priority now is to stabilize oil prices.
“Now the next stage, which involves concerted action for nine months, for us it is comfortable due to the fact that the seasonal plan we will respond to opportunities to increase production,” – said Sechin.
Earlier, Russian President Vladimir Putin after talks with the Russian oil and gas companies announced that Russia is ready to extend the agreement to reduce oil production until the end of March 2018. Saudi Arabia also agreed to extend the agreement for nine months.
At the end of November last year, OPEC for the first time since 2008, agreed to reduce oil production. The Alliance decided to reduce the global oil reserves to the average level in five years.
Russia joined the agreement, vowing to reduce oil production to 300 thousand barrels per day in the first half of 2017. In early may Russia exceeded its commitments, reducing production by 300,79 thousand barrels per day compared to October 2016.
Then Russia stated that it did not aim to affect the price of oil, the main task is balancing the market and reducing excess supplies in the world.
Eve Novak reported that all Russian companies supported the renewal of the agreement with OPEC. The day before about readiness to extend the agreement said Russia and Saudi Arabia. The final decision will be made at the meeting in Vienna, which will take place on may 24-25.