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Russia expects to continue cooperation with French energy giant Total — Putin

Projects with Russia are in the focus of the French energy giant’s development strategy, the new CEO Patrick Pouyanne assured the Russian president

SOCHI, November 28. /TASS/. Russia expects to continue cooperation with the French energy giant Total, President Vladimir Putin said at a meeting with Total’s new CEO Patrick Pouyanne on Friday.

The Russian president congratulated Pouyanne with his appointment to the post of Total’s CEO and wished him success.

“First of all, I want to congratulate you with the appointment to the company’s high post — chief executive officer — and wish you success. We’ll always be open to cooperation and hope for continuation of our joint work,” Putin said.

Falcon business jet crash in Moscow

Puyanne’s late predecessor Christophe de Margerie died in an air crash in Moscow on October 21.

A four-seat Dassault Falcon business jet, en route to Paris, collided with a snow plough during takeoff, caught fire and crashed onto the runway at Moscow’s Vnukovo-3 airport. Three crew members and a passenger — Total’s chief executive Christophe de Margerie — died in the crash.

Situation at the oil market

The oil price plunge after OPEC’s decision to hold production unchanged is an inevitable market reaction, the Russian president said.

“This is an inevitable reaction,” Putin told Patrick Pouyanne, adding that Russia is satisfied with OPEC’s decision.

The world oil market will stabilize in the first quarter or in the middle of 2015, Vladimir Putin said.

“Winter lies ahead and the market will stabilize in the first quarter or in the middle of the year,” Putin said at a meeting with French energy giant Total’s new CEO Patrick Pouyanne.