Russian oil firms discussed output cuts

Russian oil firms discussed output cuts

Russian companies support Energy Ministry proposals to cap oil output as part of a global deal, a ministry spokeswoman said on Wednesday as Moscow prepares to finalize the agreement with OPEC and other producer nations this weekend, Reuters reported.

The chiefs of Lukoil, Gazprom Neft, Tatneft, Novatek and Surgutneftegaz met Energy Minister Alexander Novak for around an hour. Novak plans to visit Vienna on Dec. 10 following OPEC's output decision last week. Rosneft, Russia's top oil producer, was represented by vice-president Andrei Shishkin, recently appointed head of Bashneft. CEO Igor Sechin, Russia's most powerful oilman and critic of cooperation with the Organization of the Petroleum Exporting Countries, was absent.

"All companies have supported our proposals for an oil production cap," Olga Golant, spokeswoman for Novak, told reporters after the meeting. She added that Novak would comment on details in Vienna.


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