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Russia's largest oil producer, Rosneft, is in talks with the government for possible compensation in the event that OPEC and its non-OPEC-led Russian partners decide to extend oil production. 39 agreement to reduce production until the end of the year, said Tuesday Igor Sechin, general manager of Rosneft. .
Rosneft does not plan to postpone the launch of new projects, but will comply with the decisions regarding the production agreement between OPEC + and will discuss at the same time any compensation for losses resulting from losses. related to his projects, reported the Russian news agency TASS citing Sechin. at the annual meeting of Rosneft shareholders.
Sechin, which has previously criticized Russia's commitment to the deal, questioned the rationale for Russia's decision to abide by the cuts, saying the United States would withdraw to Russia if the agreement with OPEC + was extended.
At a meeting held on March 1, Russian oil companies unanimously agreed that they would respect their commitments and reduce their production as planned until the end of the year. Current agreement, said Vagit Alekperov, chairman and CEO of Russian oil producer Lukoil. year.
Alekperov said in March that Russian oil companies had a "special opinion", reminding reporters of Rosneft's letter to Vladimir Putin, in which Rosneft's boss had criticized the OPEC + deal.
At today's Rosneft annual meeting, Sechin said he hoped Saudi Arabia would seek an extension, as the Kingdom's budget is based on an oil price of $ 85 per barrel.
OPEC and its non-OPEC allies led by Russia are expected to discuss the fate of the production cut agreement on 25 and 26 June, but reports have begun to appear that Russia has suggested to postpone the meeting to 3-4 July, a notion that it appears that Saudi support, while Iran and many other countries disagree with the organization of the meeting.
At the same time, Saudi Arabia has tried to stop the decline in oil prices in recent days, reiterating Monday that the Kingdom and OPEC would do "all that is needed" to rebalance the oil market by "reducing stocks to their currently high levels", from Saudi Arabia. Minister Khalid al-Falih said.
By Tsvetana Paraskova for Oilprice.com
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