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Rosneft not discussing oil production contraction — BP CEO

October 11, 19:07 UTC+3 ISTANBUL
Vladimir Putin said earlier Russia was ready to join the decision on freeze or reduction of crude production
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ISTANBUL, October 11. /TASS/. Rosneft Board of Directors has not yet discussed contraction of oil production in view of possible participation of Russia in market stabilizing measures, Chief Executive Officer of BP and member of Rosneft Board Robert Dudley said on the sidelines of the World Energy Forum.

"Oil production of Rosneft is gradually growing. We have not discussed with the Board of Directors. I think anything is possible. Production can go up or not," he said.

Earlier Russian Prime Minister Dmitry Medvedev signed decree on selling a 50.075% stake in Bashneft.

On September 28, OPEC member-nations reached an agreement to limit the average daily oil production by 32.5 mln barrels. The Organization will discuss production limits of each member-nation at the next meeting in November.

Russian President Vladimir Putin said earlier Russia was ready to join the decision on freeze or reduction of crude production, which is important for keeping stability on the oil market. 

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