Russian Emergencies Ministry says over 70 homes burn down in SiberiaSociety & Culture May 24, 18:49
International Chekhov Theater festival opens its doors for 13th time in MoscowSociety & Culture May 24, 18:44
Putin decorates commandoes for two-day face-to-face clash with militants in SyriaRussian Politics & Diplomacy May 24, 18:31
Experts say rising military spending to push Europe to reconsider NATO’s roleRussian Politics & Diplomacy May 24, 17:56
Poll shows 25% of Russians expect headway in ties with France during Macron’s presidencySociety & Culture May 24, 17:33
Former Finnish PM points to signs of improvement in Russia-West relationsWorld May 24, 17:20
Russia's legendary Su-27 jet fighter marks the 40th anniversary of its first flightMilitary & Defense May 24, 17:19
Russian lawmaker comments on US decision to end military subsidies to UkraineRussian Politics & Diplomacy May 24, 16:30
Nine Russian missile regiments rearmed with advanced ICBM systemsMilitary & Defense May 24, 16:01
MOSCOW, December 9. /TASS/. Lukoil is ready to join Russia’s decision to fulfill commitments to reduce oil production, Head of the company Vagit Alekperov told reporters.
"The agreement at the OPEC summit is a natural reaction of producers to the situation. Lukoil supports the position of the Energy Ministry and ready to join Russia’s decision," he said.
The company’s Vice President Leonid Fedun said that Lukoil expects that the Russian government will pay compensation to major oil companies due to reduction of oil production.
"We still expect that there should be a special regulatory document, a government decree, which will assign tasks for each oil producer, maybe some compensatory measures. Since freezing of oil production requires certain costs, we dare to hope there will be some kind of compensation for companies," he said in an interview with Rossiya 24 TV channel.
On November 30, OPEC countries agreed to cut oil production to 32.5 mln barrels per day, which means those countries will reduce their daily average output by 1.164 mln barrels starting January 1, 2017. Now OPEC will have to make a similar deal with non-OPEC members. The cartel expects them to cut crude production by 600,000 barrels per day in 2017, including a reduction of 300,000 barrels per day by Russia.