Russian Energy Minister Alexander Novak discussed last weekends energy cooperation with his Saudi Arabia’s counterpart Khalid al-Falih during his working visit to the country.
Saudi Arabian Energy Minister Khalid Al-Falih said on October 23, 2016, that the points of view between the Kingdom and Russia, the world's top oil producer, on the need to stabilize the market «are getting closer.»
«Saudi Arabia has started to play an important role to coordinate between Russia ... and OPEC, specifically the Gulf countries,» Al-Falih said in a news conference with his Russian and Qatari counterparts in Riyadh.
«We have managed today... through a common meeting to reach a common notion to what we can reach in November,» Al-Falih said, referring to an OPEC meeting in Vienna on November 30, when the exporting group is set to finalize a production cut agreement.
Russian Energy Minister Alexander Novak, who is in Saudi Arabia on his first official visit as minister, earlier met the energy ministers of the Gulf Cooperation Council (GCC) which included key Gulf OPEC producers Saudi Arabia, Kuwait, United Arab Emirates and Qatar.
Russia and Saudi Arabia have signed a joint memorandum of cooperation in the oil and gas sectors.
Russia may also conclude a deal with Saudi Arabia in electricity industry, which implies a joint venture and equipment supplies construction.
Novak said that Russia positively assessed prospects of cooperation with Saudi Arabia in the nuclear sphere as well as on building a tanker fleet.
To read this news in Russian.
