Energy News  
OIL AND GAS
No call to sit with OPEC in June, Russia says
by Daniel J. Graeber
Moscow (UPI) May 12, 2016


disclaimer: image is for illustration purposes only

There's been no invitation extended to the Russian government to attend next month's summit of members of OPEC, Russia's energy minister said.

Russian Energy Minister Alexander Novak said cooperation with the Organization of Petroleum Exporting Countries is ongoing. All parties hold meetings on a regular basis, but no invitation was extended for the June summit.

"No such invitation you talk about has been present so far," he said.

Russia had worked earlier this year with OPEC members to develop a policy to freeze crude oil production at January levels in an effort to stabilize an energy market characterized by heavy supplies.

Novak met in February with his counterparts from Qatar, Saudi Arabia and Venezuela to consider production arrangements. He said in April he was "optimistic" that major producers would agree to hold output steady, though the meetings collapsed after Saudi Arabia expressed reluctance to move forward without Iran's participation. Iran's oil minister in March said his country would consider a cap on production levels once his country regained a stronger position in the post-sanctions era.

Novak said he was still eager to work with Saudi Arabia, the de facto head of OPEC, on production arrangements.

"Our interaction is within the framework of energy cooperation or bilateral trade and economic cooperation," he said. "Our contacts will continue despite failure to reach an agreement in Doha on April 17 and we will develop our cooperation in all areas."

Russia's economy is expected to linger in recession as pressure from lower crude oil prices mount. Russian President Vladimir Putin said Novak was "personally" invested in working with leading players in the global energy sector to stabilize the market.

Russian oil production last year increased 1.4 percent from 2014 levels, while export volumes rose by 9 percent year-on-year. In February, its production of 10.4 million barrels per day was the highest-ever level for Russia.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Iranian oil may be headed to Europe soon
Tehran (UPI) May 11, 2016
Iranian tankers are expected to start delivering crude oil to port cities feeding the European market in less than a month, a commercial director said. Sanctions pressures on Iran started easing in January after the United Nations confirmed compliance with a multilateral nuclear agreement brokered last year. Under President Hassan Rouhani, the country has worked to reintroduce itself to ... read more


OIL AND GAS
Now 40, NASA's LAGEOS Set the Bar for Studies of Earth

Underground fungi detected from space

A Cautionary Tale From Planet Earth

Cracking the Code in Satellite Data

OIL AND GAS
Satellites 11 and 12 join working Galileo fleet

Operation of 'Indian GPS' will take some more time: ISRO

Air Force awards GPS 3 launch services contract

India gets homegrown satellite navigation system

OIL AND GAS
Californian sudden oak death epidemic 'unstoppable'

Amazon rainforest responds quickly to extreme climate events

Old-growth forests may provide buffer against rising temperatures

The unique challenges of conserving forest giants

OIL AND GAS
Berkeley Lab scientists brew jet fuel in 1-pot recipe

UNT researchers discover potential new paths for plant-based bioproducts

Improving utilization of ammonia and carbon dioxide in microalgal cultivation

Airbus Defence and Space signs contract to build Biomass

OIL AND GAS
Trina Solar Awarded a Silver Rating in EcoVadis CSR Survey

11bn Pound investment in UK solar driving increase in M and A activity

Taiwanese government should provide more support for solar panel industry

SolarReserve and Shenhua plan 1,000MW of Solar Projects in China

OIL AND GAS
DNV GL-led project gives green light for wind-powered oil recovery

Report: U.S. wind energy sector booming

El Hierro, the Spanish island vying for 100% clean energy

USGS finds cranes isolated from wind farms

OIL AND GAS
Protesters block Australian coal port

Activists dump coal ahead of climate deal signing

Sweden's Vattenfall to sell German coal business

Coal leader Peabody files for bankruptcy

OIL AND GAS
China court jails pro-democracy activists: lawyer

China sends more anti-graft inspectors into military

China slams UN criticism of controls on foreign NGOs

China to release last Tiananmen prisoner: activists









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.