Date: 7 months ago   Category: Energy

Russia has increased oil production in August higher than the level to the transaction of OPEC — Rambler News Service


Oil production by Russia in August, 2018 has made 11,39 million barrels a day that on 70 thousand barrels a day it is more, than in October, 2016, follows from the monthly review of OPEC. According to the report of the organization of November, 2016, the Russian production in October, 2016 made 11,32 million barrels a day. According to arrangements from OPEC, Russia had to reduce oil production by 300 thousand barrels a day to an indicator of October, 2016 when oil production made 11,247 million barrels a day (according to the Ministry of Energy of the Russian Federation). The Energy Minister Alexander Novak noted that decrease in production by 300 thousand barrels a day has to be reached by April — May, 2017. On April 28, 2017 the Ministry of Energy of the Russian Federation has reported that Russia has achieved the stated production reduction. At the end of November, 2016 in Vienna there has taken place the summit of OPEC where member countries of cartel have reached the agreement on reduction of oil production on 1,2 million barrels a day — to 32,5 million barrels and also have defined quotas for organization member countries. Later 11 independent producers including Russia have joined the transaction. Independent producers have signed the agreement on oil production reduction totally on 558 thousand barrels a day since January, 2017. The agreement has come into force on January 1, 2017 and half a year worked. On May 25, 2017 at another meeting of the countries of OPEC and independent producers the decision to prolong operation of the agreement for nine months — until the end of the I quarter 2018 has been made. On November 30, 2017 the agreement has been prolonged until the end of 2018. On June 23, 2018 the OPEC countries at a meeting in Vienna have made the decision to increase production since July 1, 2018 approximately by 1 million barrels a day — before 100 percent observance of terms of transaction. The Minister of Energy of the Russian Federation Alexander Novak explained that the share of Russia in the general increase in oil production of the countries of OPEC can make about 200 thousand barrels a day. On September 3 Novak has reported that following the results of August Russia has reduced oil production by 47 thousand barrels a day to an indicator of October, 2016.

URL:

The problem of deterioration of oil on the western direction has technical character and will be eliminated in the nearest future, it is said in the statement of the Ministry of Energy. "In connection with the numerous publications in media on a subject of deterioration of the Russian oil transported in the western direction, Minipower Russia notes...


The Belarusian-Russian meeting on questions of supply of oil is planned for April 23, the deputy prime minister of Belarus Igor Lyashenko said, BelTA tells. "The team of Belneftekhim and the director of oil refineries leave on Transneft on Tuesday next week for discussion of a situation" — Lyashenko at a meeting of operational staff on control of a...


Photo: The State strategy of economic development of the DPRK for 2016-2020 is directed to RIA Novosti to economic growth in 8% and strengthening of ties with Russia and other countries to leave from dependence on China. The Japanese newspaper Mainichi with reference to documents of South Korean researchers reports about it. It is noted that strate...


Photo: ITAR-TASS Belneftekhim made the decision to temporarily limit export supply of oil products, the vice-chairman of concern Vladimir Sizov said, BelTA reports. "Taking into account holding a sowing campaign, the available risks on processing of raw materials with the worsened quality we made the decision on temporary restriction of supply of o...


Social media platforms, including WhatsApp, Viber and Facebook, were temporarily blocked after a series of explosions on Sri Lanka this morning. The Ada Derana portal reports about it. Today, as reports to AFP, on Sri Lanka there were two more explosions. Earlier the News 1st portal reported that the number of the victims of a series of explosions...


Representatives of the USA and Great Britain will be invited to the Crimea to the Yalta conference in the 2020th year, the cochairman of the Business Russia organization Andrey Nazarov said, acting on YaMEF. "The Yalta conference will be devoted to the 75 anniversary of those Yalta agreements which were signed with Union States in 1945. We will inv...