Russian Energy Ministry

 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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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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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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Hungary joins Turkish Stream pipeline

Hungary intends to complete the expansion of its pipeline capacity for the Turkish Stream gas pipeline by the end of the year, Russian Minister of Energy Alexander Novak said on the sidelines of the St. Petersburg International …

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Novak: Nord Stream 2 being implemented on schedule

The Nord Stream 2 project is being implemented in accordance with the approved schedule, despite the US plans to impose sanctions on the gas pipeline, Russian Minister of Energy Alexander Novak said. "We have …

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