Tag Archives: Russia

Russian oil producers achieved a major milestone in 2016.

The global 2016 output stood at over 1.6 billion tons. up 0.7% year on year.

Russian companies have indicated interest in Iran’s gas development projects.

Kuwait chairs the five-member committee which also includes Algeria. Venezuela. Russia and Oman.

In November 2016. OPEC agreed to cut oil production by 1.2 million barrels per day to 32.5 million bpd.

Construction process of two new nuclear power plants by Russia in Bushehr was the main focus of this meeting.

Nuclear deal is a multilateral agreement. that cannot be renegotiated bilaterally.

The two power contracts between Iran and Russia are worth several billion dollars.

Iran has so far sealed cooperation agreements with Russia’s Inter RAO – Export for running a rehabilitation project in Ramin Power Plant.

Oil sanction inflicted about 170 billion dollars of damage on Iran.