NEWSWATCH: “Russia Says Key Goal Is to Bring Global Oil Stocks Down to Five-Year Average” – Reuters

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“The main goal of [a] proposed extension of [an] oil output cuts deal is to bring the global commercial oil inventories down to 5-year average and stabilise the market, Russian Energy Minister Alexander Novak said on Tuesday. … Saudi Arabia and Russia, the world’s top two oil producers, agreed on Monday on the need to extend output cuts for a […]

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RUSSIALINK RBTH: “Why Russia does not want to join OPEC; Russia sees oil club as a competitor, though they share tactical interests”

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(Russia Beyond the Headlines – rbth.ru – MARIA KUTUZOVA, SPECIAL TO RBTH) Russia is not considering joining OPEC, Russia’s Energy Minister Alexander Novak has told a U.S. conference. Speaking during the CERAWeek Oil Conference in Houston, Texas early March Novak added: “But our cooperation with the oil exporting countries has proven to be necessary and useful.” He has often spoken […]

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TRANSCRIPT: [Vladimir Putin, Mikhail Men, Alexander Novak, Nikolai Nikiforov, Vitaly Mutko at] Meeting with Government members

Map of Russia and Russian Flag adapted from images at state.gov

(kremlin.ru – February 1, 2017) Vladimir Putin met with Government members to discuss possibilities for further developing treasury monitoring of budget spending, the situation with co-funded housing development, and a number of other current issues. President of Russia Vladimir Putin: Good afternoon colleagues. Today, we will discuss the results of work and further development for treasury monitoring of budget spending. […]

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Russian Energy Minister Says Oil Cuts to Start in January

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(Bloomberg – bloomberg.com – Elena Mazneva, Annmarie Hordern – December 11, 2016) Russia’s oil producers have started preparations to meet the nation’s pledge to curb output as part of the “historic” pact between OPEC and 11 producers outside the group, Energy Minister Alexander Novak said. “The first stage of the cut we will see as soon as early January,” Novak […]

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If paid timely, Russia ready to supply Ukraine with gas it needs to safely go through winter – Russian energy minister

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GOA, India. Oct 15 (Interfax) – Russia may ship the amount of natural gas to Ukraine that it is lacking to safely go through the upcoming winter if the Ukrainian partners have the necessary resources to pay for it, Russian Energy Minister Alexander Novak said. “We stand ready to fully ensure the transportation of gas [via Ukraine] to European consumers […]

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Interfax: Novak considers $50 per barrel most appropriate from supply-demand standpoint

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MINSK. Feb 25 (Interfax) – Oil prices are unlikely to rise above $60 per barrel and a price of $50 is optimal, Energy Minister Alexander Novak said. “Speaking fundamentally, the price cannot be high, above $50-$60 per barrel, because in this situation robust investment activity would resume, those projects where investment and production volumes are now falling would be implemented, […]

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NEWSLINK: Russia may ease Ukraine’s gas terms, but Kiev must settle its bills

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Russia may ease the terms of its gas supplies to Ukraine, Russian Energy Minister Alexander Novak told Reuters, but he said that sooner or later Kiev would have to pay for the gas Moscow is supplying to rebel-held areas of east Ukraine. …

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Interfax: “Novak: oil price drop no ‘tragedy'”

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(Interfax – October 17, 2014) The current decline in oil prices is no tragedy, Russian Energy Minister Alexander Novak said, adding that the average annual price of oil needs to be considered. “The price reached $120 per barrel at the beginning of the year, and averaged $100 per barrel in the three preceding years. If we had $120 and now […]

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RIA Novosti: Moscow to Hold New Gas Talks Only After Kiev Clears its Debt – Russian Energy Minister

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MOSCOW, June 18 (RIA Novosti) – Moscow only intends to resume trilateral gas talks after Ukraine repays its debt for Russian gas supplies, Energy Minister Alexander Novak said Wednesday. “First of all, we expect payments to be made on the debt for November-December and April-May deliveries. Only after this would we consider having talks, if they are needed,” Novak told […]

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Russia getting support from European Commission in Ukraine gas talks – Novak

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(Interfax – June 2, 2014) The European Commission has effectively supported the Russian position in the second and third round of talks on payment of Ukraine’s gas debt to Russia, Energy Minister Alexander Novak said in an interview with Rossiya 24 television. “I consider that the European Commission has behaved quite constructively at these and previous consultations and many of […]

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Russia ready to continue gas price talks with Ukraine if $2 billion debt is repaid by end of week – Russian Energy Minister

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(Interfax – May 27, 2014) Russia will be prepared to continue negotiations with Ukraine concerning gas prices if Ukraine pays off $2 billion worth of its debt before the end of the week, Russian Energy Minister Alexander Novak said at a press conference after talks with his Ukrainian counterpart Yuriy Prodan and European Commissioner for Energy Gunther Oettinger. During the […]

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Russia expects Ukraine to spend part of IMF loan toward clearing gas debt – minister

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WARSAW. May 2 (Interfax) – Russia expects that Ukraine will spend part of the loan from the International Monetary Fund (IMF) toward clearing its debts for Russian gas already supplied to it, Russian Energy Minister Alexander Novak said. Speaking in Warsaw on Friday, Novak pointed out that Ukraine had received the first tranche of an IMF loan in an amount […]

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Interfax: Europe can’t easily turn back on Russian energy resources – minister

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MOSCOW. April 4 (Interfax) – It would be difficult for Europe to give up Russian energy resources, Energy Minister Alexander Novak said in an interview with TV channel Rossiya 24. He recalled that statements have been made about reducing the dependence on Russia in future. “And such work is being done in the European Union, in the United States. There […]

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