Quotes from the news wire:
OPEC now is experiencing a crisis of internal differences. Despite this, I wouldn't write off this organisation.
– Russian Energy Minister Alexander Novak
Russia is not an OPEC member... If there are any consultations outside the OPEC summit by OPEC and non-OPEC member countries we will look at such proposals (of consultations)... But there are no such proposals yet.
– Russian Energy Minister Alexander Novak
In my opinion, any decisions on coordination which would require an obligatory fulfilment, are unlikely to be taken, because we see quite big disagreements inside OPEC on the further development of the situation and on what should, or opposite, should not be done for the market to reach a balance.
– Russian Energy Minister Alexander Novak
(The outlook that the market won't balance until the first half of 2017) is an optimistic forecast as oversupply persists and the decline in production volumes is slower than analysts expected.
– Russian Energy Minister Alexander Novak
We don't have any talks on this subject at the moment. The situation with oil prices is more or less normal, stable, and is satisfying many countries.
– Russian Energy Minister Alexander Novak
This is a hard task which the countries undertook - to agree by June.
– Russian Energy Minister Alexander Novak
They (Saudis) have the ability to raise output significantly. But so do we.
– Russian Energy Minister Alexander Novak
We are not sure that they will be able to agree (on an output freeze) within OPEC, this is a hard task which the countries undertook - to agree by June.
– Russian Energy Minister Alexander Novak
This will allow to create a transparent exchange mechanism of determining a fair price for Russian export oil, setting a direct price without a link to current global pricing benchmarks.
– Russian Energy Minister Alexander Novak
Indeed, these parameters were proposed, to cut production by each country by up to 5 percent, this is a subject for discussions, it's too early to talk about.
– Russian Energy Minister Alexander Novak
This should not affect the market, this country (the United States) is an importer, it needs to buy oil on the market itself.
– Russian Energy Minister Alexander Novak
Currently work on Turkish Stream has been halted.
– Russian Energy Minister Alexander Novak
We highly value our interaction within consultations on the situation in the oil market between OPEC and leading non-OPEC producers.
– Russian Energy Minister Alexander Novak
We are discussing the situation, the prospects, the value of oil production, the balance of demand and supply.
– Russian Energy Minister Alexander Novak
In general we focus on the total amount laid out in the strategy (of energy sector development): around 525 million tonnes (10.5 billion cubic metres per day).
– Russian Energy Minister Alexander Novak
If such consultations are to happen we are ready to take part.
– Russian Energy Minister Alexander Novak
The prices will be determined by the production costs of shale oil.
– Russian Energy Minister Alexander Novak
We will discuss the situation on the oil and gas market on the whole, taking into account the lifting of sanctions on Iran.
– Russian Energy Minister Alexander Novak
There is no such information, i think Sakhalin-1 is one of (our) best projects. We don't see an economic reason.
– Russian Energy Minister Alexander Novak
They agreed on some positions of the protocol, including on pumping no less than 19 bcm into the storages before the forthcoming winter.
– Russian Energy Minister Alexander Novak
The discount could be provided by a government decision for the second quarter. We agreed to consider this issue each quarter taking into consideration volatile prices on the market.
– Russian Energy Minister Alexander Novak
A discount is possible under the contract as well - no separate (summer) packages are needed if Ukraine and Russia reach an agreement. Take-or-pay (suspension)... is also possible, it depends on the talks between companies.
– Russian Energy Minister Alexander Novak
(Oil) prices have fallen and the period that will serve as a basis (for pricing) saw lower oil and oil product prices.
– Russian Energy Minister Alexander Novak
We, obviously, will look into the possibility of providing such a discount, depending on our budget and market environment, in theory, there is such a possibility... it is a matter of separate agreements.
– Russian Energy Minister Alexander Novak
We have been invited to three-way talks and have confirmed our participation. First of all we're going to talk about the situation with current supplies to Ukraine and gas transit to European consumers.
– Russian Energy Minister Alexander Novak
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