"Company results over the last two to three months could lead to a decline of several percent, though not a large decline," the minister told reporters.
Author: Ksenia Kochneva
117
Russian Energy Minister Predicts Great Cuts in Production
Sergei Shmatko said Wednesday that OPEC members were preparing a "significant cut" in oil production and that Russian output was likely to decline in 2008 despite government attempts to stimulate production
Shmatko, speaking to reporters after meeting OPEC representatives in Moscow, said Russia expected a significant reduction in output from member countries. The next OPEC meeting is scheduled to take place in Algeria on Dec. 17.
Russia, the largest oil producer outside the group, will make its own proposal at the same meeting, which it will attend as an observer, Shmatko said.
Russian oil production would probably decline this year for the first time in a decade, Shmatko said, although his comments were not linked to any specific OPEC-related output cut plans.
"Company results over the last two to three months could lead to a decline of several percent, though not a large decline," the minister told reporters.
Author: Ksenia Kochneva
"Company results over the last two to three months could lead to a decline of several percent, though not a large decline," the minister told reporters.
Author: Ksenia Kochneva
Подпишитесь
