Swedish think tank SIPRI puts Russia in world’s top three biggest defense spendersMilitary & Defense April 24, 4:35
Ukraine reconciliation meeting in Minsk postponed over OSCE car blastWorld April 24, 3:21
Macron announces his victory in first round of French presidential voteWorld April 24, 1:29
Le Pen gets 23.08%, Macron - 23.11% after 33 mln votes counted — Interior MinistryWorld April 23, 23:58
Preliminary results of French polls reveal defeat of two leading partiesWorld April 23, 22:49
Macron, Le Pen lead in first round of French election — TVWorld April 23, 21:33
Russian Foreign Ministry slams OSCE car incident in Donbass as 'provocation'Russian Politics & Diplomacy April 23, 19:41
Macron winning presidential polls among French living in US, Canada — TVWorld April 23, 19:12
French nationals in Moscow expect presidential polls to bring changes to their countryWorld April 23, 18:01
VIENNA, November 29. /TASS/. Lukoil will support the oil production cut, if OPEC and Russia make a decision on reduction, the company’s President Vagit Alekperov told reporters.
"I have just come from the meeting with the Iraqi Minister. If they make a decision (OPEC and Russia - TASS) to reduce volumes of production on the territory of Russia we will support it," he said.
The OPEC member-states are expected to reach the oil production limiting agreement tomorrow, Alekperov assumes:
"I believe a collective opinion will be reached nevertheless because production volumes still require regulation."
During an informal meeting at the 15th International Energy Forum in Algeria on September 28, the OPEC member-countries reached an agreement on limiting oil production to 32.5-33.0 million barrels per day. The parties have not agreed on specific limits for every country yet. The final decision on the agreement is to be approved at the official meeting of OPEC in Vienna on November 30.
Lukoil's president said that the company is satisfied worth an opportunity of working under contract on terms of buyback (return of investments - TASS) in Iran.
"We are working, so far there is no contact. There is only a concept. Yes, we are working under buyback in Iraq. It depends on conditions," he said, responding to the question of whether the company is happy with the same variant of work in Iran.
Earlier Alekperov said that in October-November 2017 Lukoil may sign contracts with Iran on two fields Al-Mansuri and Ab-Teymur. He said that recoverable reserves of each of these fields exceed 1 mln tonnes.
Iran has already signed three memoranda of understanding with Russian oil companies Lukoil, Tatneft and Zarubezhneft.
Earlier a representative of the management of the National Iranian Oil Company (NIOC) Gholamreza Manouchehri said that the Russian companies are potential investors in oil and gas projects in Iran.