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A few days ago, according to Russian Energy Minister Alexander Novak, the country may reduce oil extraction, which will be discussed
when OPEC meets in February.
Russian media reported on January 29 that Novak said: "Now OPEC countries are trying to hold meetings
with representatives of non-OPEC countries.
We confirm our possible participation in such meetings
.
However, Bloomberg quoted four OPEC representatives as saying that talks between Russia and OPEC have not yet been formulated
.
Two officials said Novak had discussed production cuts with leaders of several Russian oil companies
.
Workers at the two oil companies said the production cut refers to a 3 to 5 percent drop in production, or 16 million to 26.
7 million tons less oil
.
But no final decision has been made, possibly because Rosneft President Igor Sechin was absent from the meeting
.
Representing the country's companies in the discussions was Slavinsky
, vice president for economics and finance.
Reuters quoted one participant as saying it was impossible to make a decision in Sechin's
absence.
40% of Russian oil is extracted
by Rosneft.
Participants also said that Alekperov, president of Russia's Lukoil company, was also absent
.
A source close to the government said there were no directives to cut production and that general discussions
were ongoing.
However, this matter has not been confirmed
by many parties.
A few days ago, according to Russian Energy Minister Alexander Novak, the country may reduce oil extraction, which will be discussed
when OPEC meets in February.
Russian media reported on January 29 that Novak said: "Now OPEC countries are trying to hold meetings
with representatives of non-OPEC countries.
We confirm our possible participation in such meetings
.
However, Bloomberg quoted four OPEC representatives as saying that talks between Russia and OPEC have not yet been formulated
.
Two officials said Novak had discussed production cuts with leaders of several Russian oil companies
.
Workers at the two oil companies said the production cut refers to a 3 to 5 percent drop in production, or 16 million to 26.
7 million tons less oil
.
But no final decision has been made, possibly because Rosneft President Igor Sechin was absent from the meeting
.
Representing the country's companies in the discussions was Slavinsky
, vice president for economics and finance.
Reuters quoted one participant as saying it was impossible to make a decision in Sechin's
absence.
40% of Russian oil is extracted
by Rosneft.
Participants also said that Alekperov, president of Russia's Lukoil company, was also absent
.
A source close to the government said there were no directives to cut production and that general discussions
were ongoing.
However, this matter has not been confirmed
by many parties.
