Alexander Novak

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Last quote by Alexander Novak

The recommendation is to keep current quotas. The duration is 9 months. Tomorrow we will discuss a possibility of extension by another three months (to June 2018).feedback
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NEW May 24 2017 OPEC
Alexander Novak has been quoted 51 times. The one recent article where Alexander Novak has been quoted is Oil prices jump as biggest producers plan to extend output cuts. Most recently, Alexander Novak was quoted as having said, “We believe that the extension at least until the first of April next year, is reasonable in order to continue our joint efforts to stabilise the market.”.
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Alexander Novak quotes

It's premature to talk about extending the agreement.feedback

We are also noticing a significant decrease in speculative pressure to the prices.feedback

Some countries have cut more than it was planned and are moving ahead of schedule. Russian oil production was down by 117,000 bpd in January.feedback

Rex Tillerson is a very famous energy industry specialist and I am certain that his actions will be positive, as a whole, for the industry.feedback

We believe that for the industry as a whole this is good because the energy sector should develop and the fact that a large country, the largest country in economic terms, such as the USA will be developing its energy is overall a positive thing for the whole of the energy sector.feedback

Over many years Russia has advocated itself as a reliable supplier of energy resources and gas and I would even say has acted as a guaranteed supplier, when there was a break in supply from other countries, other suppliers of gas to Europe, Russia has always covered deficits that arise as a result of a lack of Europe's own resource supply. And for this Russia has the capacity, the reserves to supply gas. Therefore, we believe that the relations between the producers and consumers of energy resources have been reliable and we are ready to keep supporting them.feedback

That is absolutely normal. That works for some with the availability of natural mineral resources.feedback

If you look at where the biggest production cuts are coming from its largely about the Gulf states and Russia - this gives me even more comfort there will be material compliance. Russia invested a lot in securing agreement so you wouldn't expect them to fail to comply in the early stages. I think compliance is likely.feedback

The creation of a Russian-Iranian Islamic bank was discussed. Our banks are exploring the mechanism, the related decision has not been made yet.feedback

Russia will gradually cut output in the first half of 2017 by up to 300,000 barrels per day, on a tight schedule as technical capabilities allow.feedback

Russia is ready to join the agreement ... Based on our active talks over the last couple of months with key OPEC members and non-OPEC countries, Russia will gradually cut its output by up to 300,000 barrels per day in the first half of 2017.feedback

We think such a meeting will take place within the next 10 days.feedback

We are optimistic about the agreements reached and consider today's agreement as historically important.feedback

Our talks with non-OPEC countries allow us to expect some countries to join the deal, cumulatively contributing approximately up to 300,000 bpd.feedback

According to our plans, (Russia's) oil output is going up next year. If we keep production at the current level we are making our contribution, for us that essentially means a cut of 200,000-300,000 barrels per day (in 2017).feedback

Yes, this is our main position, it has not changed.feedback

The document is almost ready, only a few details are left. We expect that it will be signed within the framework of the World Energy Congress. We are talking about two segments (of the pipeline).feedback

Talks about gas price have resumed, I hope the sides will come to a common position.feedback

It is possible that by then Russia's Gazprom Export and Turkey's Botas will be able to resolve their disagreements related to the price of gas.feedback

We are waiting for the proposals which OPEC will elaborate internally to meet target (production) levels and with which they will come out and approach non-OPEC nations.feedback

There is still a number of details which OPEC countries must work out.feedback

It is hard to tell, consultations are still under way.feedback

The inter-governmental agreement and road map are currently being reconciled, the process of agreeing on the final text is underway. We plan to proceed to the signing in October.feedback

We have agreed with Saudi Arabia energy minister on joint actions aimed at stabilising situation on the oil market. We consider a production freeze the most efficient tool, concrete parameters are being discussed at the moment.feedback

We are cooperating in the framework of consultations regarding the oil market with OPEC countries and producers from outside the organisation, and are determined to continue dialogue to achieve market stability.feedback

OPEC now is experiencing a crisis of internal differences. Despite this, I wouldn't write off this organisation.feedback

Talk of a cut is far behind the scenes now. They can barely agree on the freeze.feedback

We're ready to discuss the issue of cutting oil output volumes, but this isn't a decision.feedback

This is a subject for discussions, it's too early to talk about it. We think it's reasonable to discuss the situation.feedback

We reached an agreement of mutual obligations, which will guarantee supplies for the winter months and its safe transit through Ukrainian territory to our European consumers.feedback

On many matters, Russia has compromised on the price and the structuring of the debt. This is our contribution to the compromise to stabilise the situation in Ukraine so that the autumn and winter period is safe and the supply to European customers is stable.feedback

Our side is prepared, when we receive the payments, to continue negotiations until Friday about prices for future supplies to the Ukrainian site.feedback

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