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Putin will discuss energy issues with Iraqi Prime Minister in Moscow
Monday May 18 / May 2015 - 16:31
MOSCOW (Reuters) - The Kremlin said on Monday that Russian President Vladimir Putin will meet with Iraqi Prime Minister Haider al-Abadi on Thursday to discuss ways to strengthen relations in the energy sector. Oil and gas sales and generate about half of Russia's budget revenues. The Oil fell sharply from the level of $ 115 a barrel In June June 2014 but recovered from lows recently to about $ 66. And had to double the price Moscow to seek to strengthen relations with the Organization of the Petroleum Exporting Countries (OPEC), which includes among its members Iraq. The Kremlin said in a statement that "during the next meeting will be given priority to strengthening bilateral cooperation in the areas of system, including trade, investment and energy." Russia has refused so far to reduce production Oil voluntarily to support prices, saying it would be unable to restore production levels quickly if it is reduced which is mainly due to the harsh climate in the country. According to Saudi Arabia and other OPEC members that they would not considering production cuts unless approved by the countries from outside the organization, such as Russia. In the week past said Vice Minister of Energy and the Russian Kirill Molodtsov said his country is consulting with OPEC before the organization meeting in June. Sources of OPEC is expected to keep the cartel at its meeting on current production levels with the continuation of the Gulf states to focus on protecting its market share in the Under the current wave of Ascension crude prices that weaken calls to other members of a cut in supplies.
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Monday May 18 / May 2015 - 16:31
MOSCOW (Reuters) - The Kremlin said on Monday that Russian President Vladimir Putin will meet with Iraqi Prime Minister Haider al-Abadi on Thursday to discuss ways to strengthen relations in the energy sector. Oil and gas sales and generate about half of Russia's budget revenues. The Oil fell sharply from the level of $ 115 a barrel In June June 2014 but recovered from lows recently to about $ 66. And had to double the price Moscow to seek to strengthen relations with the Organization of the Petroleum Exporting Countries (OPEC), which includes among its members Iraq. The Kremlin said in a statement that "during the next meeting will be given priority to strengthening bilateral cooperation in the areas of system, including trade, investment and energy." Russia has refused so far to reduce production Oil voluntarily to support prices, saying it would be unable to restore production levels quickly if it is reduced which is mainly due to the harsh climate in the country. According to Saudi Arabia and other OPEC members that they would not considering production cuts unless approved by the countries from outside the organization, such as Russia. In the week past said Vice Minister of Energy and the Russian Kirill Molodtsov said his country is consulting with OPEC before the organization meeting in June. Sources of OPEC is expected to keep the cartel at its meeting on current production levels with the continuation of the Gulf states to focus on protecting its market share in the Under the current wave of Ascension crude prices that weaken calls to other members of a cut in supplies.
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