Alexander Novak

Novak: OPEC+ deal saves energy market

The OPEC+ deal on oil output cuts reached last year saved the global energy sector from a collapse and prevented oil prices from dropping below zero, Russian Deputy Prime Minister Alexander Novak said in an interview with RBC TV. …

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Novak: Nord Stream 2 to be completed thanks to EU support

U.S. sanctions against the Nord Stream 2 gas pipeline are blatant protectionism aimed at advancing its liquefied natural gas on the European market, but the EU countries understand this and support the project, and thanks to this it will be …

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Oil price range optimum for Russia named

Russia’s government considers the oil price range of $45-55 per barrel optimum in the current market situation, which allows preventing the market from overheating, on the one hand, and supporting producers, on the other hand, Russian …

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Vladimir Putin dismisses three ministers

Russian President Vladimir Putin dismissed Construction Minister Vladimir Yakushev and appointed him as Presidential Plenipotentiary in the Urals Federal District. Russia's Transport Minister Yevgeny Dietrich and Environment …

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Russian LNG gets a climate change boost

Russia’s Novatek said last week it planned to triple current liquefied natural gas production rates to as much as 70 million tons annually by 2030. That’s despite the current glut that has depressed LNG prices globally and the damage to demand done by the pandemic.

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Novak calls for strict OPEC+ deal compliance

The Organization of Petroleum Exporting Countries and allies including Russia - a group known as OPEC+ - should stick to full compliance of a deal to cut global oil production, Russian Energy Minister Alexander Novak said. In his …

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Russian energy minister Novak tests positive for coronavirus

Russian Energy Minister Alexander Novak has tested positive for the coronavirus, Prime Minister Mikhail Mishustin said at a meeting of the governmental commission on the social and economic development of the Far East, which took place in the …

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Oil price of $40-43 per barrel more or less balanced - Novak

The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after the weakening of the OPEC+ production restrictions, Energy Minister Alexander Novak told reporters, …

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Russia's Novak says oil market is stable

Russian Energy Minister Alexander Novak said that the global oil market is now balanced and stable following a sudden decline in demand due to the coronavirus pandemic. Speaking after a meeting of the OPEC+ group’s Joint …

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