GPS News  
OIL AND GAS
No call to sit with OPEC in June, Russia says
by Daniel J. Graeber
Moscow (UPI) May 12, 2016


disclaimer: image is for illustration purposes only

There's been no invitation extended to the Russian government to attend next month's summit of members of OPEC, Russia's energy minister said.

Russian Energy Minister Alexander Novak said cooperation with the Organization of Petroleum Exporting Countries is ongoing. All parties hold meetings on a regular basis, but no invitation was extended for the June summit.

"No such invitation you talk about has been present so far," he said.

Russia had worked earlier this year with OPEC members to develop a policy to freeze crude oil production at January levels in an effort to stabilize an energy market characterized by heavy supplies.

Novak met in February with his counterparts from Qatar, Saudi Arabia and Venezuela to consider production arrangements. He said in April he was "optimistic" that major producers would agree to hold output steady, though the meetings collapsed after Saudi Arabia expressed reluctance to move forward without Iran's participation. Iran's oil minister in March said his country would consider a cap on production levels once his country regained a stronger position in the post-sanctions era.

Novak said he was still eager to work with Saudi Arabia, the de facto head of OPEC, on production arrangements.

"Our interaction is within the framework of energy cooperation or bilateral trade and economic cooperation," he said. "Our contacts will continue despite failure to reach an agreement in Doha on April 17 and we will develop our cooperation in all areas."

Russia's economy is expected to linger in recession as pressure from lower crude oil prices mount. Russian President Vladimir Putin said Novak was "personally" invested in working with leading players in the global energy sector to stabilize the market.

Russian oil production last year increased 1.4 percent from 2014 levels, while export volumes rose by 9 percent year-on-year. In February, its production of 10.4 million barrels per day was the highest-ever level for Russia.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Iranian oil may be headed to Europe soon
Tehran (UPI) May 11, 2016
Iranian tankers are expected to start delivering crude oil to port cities feeding the European market in less than a month, a commercial director said. Sanctions pressures on Iran started easing in January after the United Nations confirmed compliance with a multilateral nuclear agreement brokered last year. Under President Hassan Rouhani, the country has worked to reintroduce itself to ... read more


OIL AND GAS
Study reveals genetic origins of carrots' orange color

Rising Carbon Dioxide Levels Will Help and Hurt Crops

Edible silk coating keeps fruit fresh for a week, scientists find

EU won't sacrifice food safety for US trade deal: German minister

OIL AND GAS
Neutrons tap into magnetism in topological insulators at high temperatures

Rice experts unveil submicroscopic tunable, optical amplifier

Scientists Demonstrate a Compact, Efficient Single Photon Source

New techniques make RFID tags 25 percent smaller

OIL AND GAS
Personal aircraft aiming to take off from your home

NASA, FAA Demonstrate Wireless Communication with Aircraft

Airbus sets sights on the stratosphere with glider flight

Navy opens Boeing-equipped P-8 maintenance center

OIL AND GAS
France's Peugeot and Chinese partner to develop electric cars

Strolling and selfies as Paris' Champs-Elysees goes car-free

Self-driving cars in a fast lane: Fiat Chrysler chief

Volvo Cars gets junk rating as bond offer hits the road

OIL AND GAS
China April exports, imports fall in sign of weakness

French mistrustful of government in EU-US trade deal talks

EU warns against market economy status for China

China group buys DR Congo copper mine for $2.65 billion

OIL AND GAS
Californian sudden oak death epidemic 'unstoppable'

Amazon rainforest responds quickly to extreme climate events

Old-growth forests may provide buffer against rising temperatures

The unique challenges of conserving forest giants

OIL AND GAS
Now 40, NASA's LAGEOS Set the Bar for Studies of Earth

Underground fungi detected from space

A Cautionary Tale From Planet Earth

Cracking the Code in Satellite Data

OIL AND GAS
Little ANTs: Researchers build the world's tiniest engine

New movies from the microcosmos

Ultra-long, one-dimensional carbon chains are synthesised for the first time

Rice introduces Teslaphoresis to help assemble Nanotubes









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.