Alexander Novak

Novak re-appointed as board chairman of Transneft

Russia's Energy Minister Alexander Novak was re-appointed as board chairman of the oil pipeline monopoly Transneft, the company said in a regulatory statement. The Company's Board of Directors consists of …

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 Novak hopes for good demand for oil in 2020

Russian Energy Minister Alexander Novak said that improving U.S.-China trade relations may mean that global oil demand will not contract. "I think that the market will have enough supply, while demand …

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Novak: tension in Persian Gulf not fault of Iran

Russian Energy Minister Alexander Novak said that Iran is not the cause of instability in the Persian Gulf and that sanctions against the country are “unlawful.” "As regards restrictions on Iranian …

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Nine-month extension of oil output cut deal agreed

OPEC + countries voted in favor of joining the OPEC decision to extend the oil output cut deal for nine months while maintaining the quota of the old agreement. "Thank you very much; I believe that we have now joined the decision …

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OPEC+ deal to be extended until April 2020?

  The most probable and the most discussed period for renewal of OPEC+ oil production capping deal is until April of the next year, a high-ranking source in the alliance said. "Nine months, rather than six, …

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Gulf tensions, trade wars loom large over key meetings

Energy stocks were the best performers on global markets last week. On the back of increased tensions in the Arabian Gulf, oil was up around 7.7 percent between Monday and its highest point on Friday. It opened at 64.90 for Brent in early …

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Novak: Russia open to new dates for OPEC+ meeting

Russian Energy Minister Alexander Novak said that Russia was open to new dates for a meeting of OPEC+ nations, including on July 12. Novak noted that he had not yet discussed a change in meeting dates with his …

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 Novak on why oil price could fall to $30 per barrel

Russian Energy Minister Alexander Novak did not rule out that oil prices could fall to $30 per barrel due to overproduction, he said after the meeting of the Russian-Saudi intergovernmental commission on trade, economic and …

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Russia to offer VIP version aircraft to Saudi Arabia

  Russia plans to offer Sukhoi SuperJet 100 aircraft in its VIP version and medium-haul MC-21 aircraft to Saudi Arabia, Energy Minister Alexander Novak said at a meeting of the joint Russian-Saudi intergovernmental …

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Al-Falih assesses OPEC+ deal perspectives

Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al-Falih believes that the benefit of participation in OPEC+ is obvious. The minister noted that he met with the Russian President …

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