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Russia threatens OPEC countries because of the policy of Saudi Arabia
October 27, 2015
Our economy / Agencies
Russia has threatened to confront OPEC if it continues the current policy efforts to reduce world oil prices and Try it Arabia enter new markets controlled by Russian companies and fired these threats and the Russian energy minister, a day after the term chief executive of the largest oil company in Russia deplored the entry of Saudi Arabia to the east European markets -dominated company «Rosneft» and the rest of Russian companies traditionally, Minister of power output to confirm to fight any confrontation with the Organization of the Petroleum Exporting Countries states that oil companies in his country is ready (OPEC).
The Russian Energy Minister Alexander Novak said in an interview with Channel «Russia 24» that Russian oil companies are ready to compete with OPEC countries, if taken a decision on the redistribution of production quotas, or increase its size within the organization.
He said the Russian minister: «in case increased a Member in (OPEC) share of the product, for the organization redistribution of production quotas within them, if they want to maintain the current production ceiling, as it depends largely on whether the (OPEC) would restore the balance within it or not, or this will be the size of the additional production » .
He added: «There are things that many are unknown, but in general we are ready for that, oil and our companies ready for this competition».
He Novak that «OPEC» Organization's share of the volume of production is 30 million barrels per day, and each state influence within the organization, and fit it directly proportional to the volume of production.
In spite of that «OPEC» countries announced since late 2011 that it adopt a production ceiling of 30 million barrels per day, they continue to exceed the ceiling of production for the sixth month in a row in order to maintain its stake in the oil markets.
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October 27, 2015
Our economy / Agencies
Russia has threatened to confront OPEC if it continues the current policy efforts to reduce world oil prices and Try it Arabia enter new markets controlled by Russian companies and fired these threats and the Russian energy minister, a day after the term chief executive of the largest oil company in Russia deplored the entry of Saudi Arabia to the east European markets -dominated company «Rosneft» and the rest of Russian companies traditionally, Minister of power output to confirm to fight any confrontation with the Organization of the Petroleum Exporting Countries states that oil companies in his country is ready (OPEC).
The Russian Energy Minister Alexander Novak said in an interview with Channel «Russia 24» that Russian oil companies are ready to compete with OPEC countries, if taken a decision on the redistribution of production quotas, or increase its size within the organization.
He said the Russian minister: «in case increased a Member in (OPEC) share of the product, for the organization redistribution of production quotas within them, if they want to maintain the current production ceiling, as it depends largely on whether the (OPEC) would restore the balance within it or not, or this will be the size of the additional production » .
He added: «There are things that many are unknown, but in general we are ready for that, oil and our companies ready for this competition».
He Novak that «OPEC» Organization's share of the volume of production is 30 million barrels per day, and each state influence within the organization, and fit it directly proportional to the volume of production.
In spite of that «OPEC» countries announced since late 2011 that it adopt a production ceiling of 30 million barrels per day, they continue to exceed the ceiling of production for the sixth month in a row in order to maintain its stake in the oil markets.
[You must be registered and logged in to see this link.]
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