Putin venerates St Nicholas's relics in Cathedral of the SaviorSociety & Culture May 24, 21:53
Putin points out Russia’s good relations with EgyptRussian Politics & Diplomacy May 24, 21:30
Ukraine names conditions for Minsk accords' political part implementationWorld May 24, 20:44
Blaze-stricken Siberian areas expecting downpours that may quash firesSociety & Culture May 24, 19:45
Contact Group on Ukraine proposes more areas of disengagementWorld May 24, 19:39
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
TEHRAN, February 20. /TASS/. Russia is ahead of its February schedule for oil production cut, Russian Energy Minister Alexander Novak told reporters on Monday.
"We are generally ahead of the schedule in place," the minister said responding to the question regarding Russia’s production cut rates in February.
Russian Energy Minister Alexander Novak and Iran’s Oil Minister Bijan Namdar Zangeneh plan to discuss a range of issues tomorrow, including compliance with oil production limiting agreements:
"The list of issues is standard and pertains to the oil and gas sector and the market situation, considering that Iran and Russia are parties to the agreement signed in Vienna," Novak said.
On December 10, 2016, OPEC and non-OPEC countries signed an agreement on joint reduction of oil output at a meeting in Vienna.
Thus, 11 non-cartel countries (Azerbaijan, Bahrain, Brunei, Equatorial Guinea, Kazakhstan, Malaysia, Mexico, Oman, Russia, the Republic of Sudan and South Sudan) will join the cut announced by OPEC members of 1.164 mln barrels per day in the first half of this year, and reduce production by another 558,000 barrels per day. The total crude oil production cut will amount to 1.7-1.8 mln barrels per day. Russia undertook to cut its oil production by 300,000 barrels per day in the first half of 2017.