Tag Archives: Alexander Novak

All OPEC+ members have agreed with the recommendation not to include gas condensate numbers in the overall oil output.

OPEC+ oil exporters have coordinated output for three years to balance the market and support prices.

The Russians have a grievance about the pact that they are likely to take up with their OPEC allies.

There has been speculation that Russia may be unhappy with the production agreement. in part because its energy companies oppose it.

The projects include the construction of thermal power plants. hydroelectric power plants. railroads and subway carriages.

Iran has filed a request for a loan of $2 billion from Russia to build power plants. railroads and to purchase subway cars.

The majority of the loan will reportedly be used for conducting several joint power plant projects in Iran.

Russia had agreed to provide a $5 billion loan to Iran for joint infrastructure projects in October 2015.

Russia has become a leading supplier of crude oil to China - it supplied 67 million tonnes in 2018. which is worth more than $35 billion.

Russia has failed to meet its OPEC+ obligations for seven months this year.