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Russia threatens OPEC countries because of the policy of Saudi Arabia
October 27, 2015
Russia has threatened to confront OPEC if it continues the current policy efforts to reduce world oil prices and Try it Arabia enter new markets controlled by Russian companies and fired these threats and the Russian energy minister, a day after the term chief executive of the largest oil company in Russia deplored the entry of Saudi Arabia to the east European markets -dominated company «Rosneft» and the rest of Russian companies traditionally, Minister of power output to confirm to fight any confrontation with the Organization of the Petroleum Exporting Countries states that oil companies in his country is ready (OPEC).
The Russian Energy Minister Alexander Novak said in an interview with Channel «Russia 24» that Russian oil companies are ready to compete with OPEC countries, if taken a decision on the redistribution of production quotas, or increase its size within the organization.
He said the Russian minister: «in case increased a Member in (OPEC) share of the product, for the organization redistribution of production quotas within them, if they want to maintain the current production ceiling, as it depends largely on whether the (OPEC) would restore the balance within it or not, or this will be the size of the additional production » .
He added: «There are things that many are unknown, but in general we are ready for that, oil and our companies ready for this competition».
He Novak that «OPEC» Organization's share of the volume of production is 30 million barrels per day, and each state influence within the organization, and fit it directly proportional to the volume of production.
In spite of that «OPEC» countries announced since late 2011 that it adopt a production ceiling of 30 million barrels per day, they continue to exceed the ceiling of production for the sixth month in a row in order to maintain its stake in the oil markets.
Oil prices have fallen by more than half since the middle of last year, after it collided with the oil supply of high economic growth is weak. And it pushed the issue of the Iranian nuclear file the settlement of the oil markets to retreat because of the increase of oil supply with strong resistance and flexibility shown by shale oil producers in the United States fears.
In spite of the intense competition that the company «Saudi Aramco» faced by Rosneft and other Russian companies in China, which managed to increase its exports this year, largely to China amounted to 30 per cent during the first nine months compared to the same period last year, but officials in Riyadh unlike Russian officials did not go out to Aakbwa to increase Russian sales in the Chinese market which is dominated by Saudi Arabia for years, as Saudi Arabia is still the largest supplier of crude oil to China.
CEO «Rosneft» Igor Sechin says known strong links to with President Vladimir Putin said Saudi Arabia's largest producer of crude in «OPEC» is reducing their prices to secure new markets such as market Poland, which is one of between markets controlled by «Rosneft».
and Sechin said in remarks published on Thursday that the Organization of Petroleum Exporting Countries (OPEC) completely lost its role as a regulator of crude to market. Was quoted by Russian news agencies as saying that Sechin, a technical meeting was held between some of the countries within the «OPEC» and abroad on October 21 (October) in Vienna did not produce any results.
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October 27, 2015
Russia has threatened to confront OPEC if it continues the current policy efforts to reduce world oil prices and Try it Arabia enter new markets controlled by Russian companies and fired these threats and the Russian energy minister, a day after the term chief executive of the largest oil company in Russia deplored the entry of Saudi Arabia to the east European markets -dominated company «Rosneft» and the rest of Russian companies traditionally, Minister of power output to confirm to fight any confrontation with the Organization of the Petroleum Exporting Countries states that oil companies in his country is ready (OPEC).
The Russian Energy Minister Alexander Novak said in an interview with Channel «Russia 24» that Russian oil companies are ready to compete with OPEC countries, if taken a decision on the redistribution of production quotas, or increase its size within the organization.
He said the Russian minister: «in case increased a Member in (OPEC) share of the product, for the organization redistribution of production quotas within them, if they want to maintain the current production ceiling, as it depends largely on whether the (OPEC) would restore the balance within it or not, or this will be the size of the additional production » .
He added: «There are things that many are unknown, but in general we are ready for that, oil and our companies ready for this competition».
He Novak that «OPEC» Organization's share of the volume of production is 30 million barrels per day, and each state influence within the organization, and fit it directly proportional to the volume of production.
In spite of that «OPEC» countries announced since late 2011 that it adopt a production ceiling of 30 million barrels per day, they continue to exceed the ceiling of production for the sixth month in a row in order to maintain its stake in the oil markets.
Oil prices have fallen by more than half since the middle of last year, after it collided with the oil supply of high economic growth is weak. And it pushed the issue of the Iranian nuclear file the settlement of the oil markets to retreat because of the increase of oil supply with strong resistance and flexibility shown by shale oil producers in the United States fears.
In spite of the intense competition that the company «Saudi Aramco» faced by Rosneft and other Russian companies in China, which managed to increase its exports this year, largely to China amounted to 30 per cent during the first nine months compared to the same period last year, but officials in Riyadh unlike Russian officials did not go out to Aakbwa to increase Russian sales in the Chinese market which is dominated by Saudi Arabia for years, as Saudi Arabia is still the largest supplier of crude oil to China.
CEO «Rosneft» Igor Sechin says known strong links to with President Vladimir Putin said Saudi Arabia's largest producer of crude in «OPEC» is reducing their prices to secure new markets such as market Poland, which is one of between markets controlled by «Rosneft».
and Sechin said in remarks published on Thursday that the Organization of Petroleum Exporting Countries (OPEC) completely lost its role as a regulator of crude to market. Was quoted by Russian news agencies as saying that Sechin, a technical meeting was held between some of the countries within the «OPEC» and abroad on October 21 (October) in Vienna did not produce any results.
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