Russia's gas condensate production averaged 833,000 barrels per day (bpd) in November, Energy Minister Alexander Novak told reporters on Friday, up from an October 2018 baseline of 796,000 bpd being used in a global oil output cut deal.
Russia is part of a pact among OPEC and non-OPEC oil producers curbing their oil output to support prices but Moscow wants to exclude gas condensate from its quota calculations, something OPEC members already do.
Novak said on Thursday that OPEC agreed to allow participants to exclude condensate, a light crude extracted as a by-product of gas production.
(Reporting by Olesya Astakhova; writing by Katya Golubkova; editing by Jason Neely)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 87.5 USD | +1.31% | -1.66% | - | ||
| 83.25 USD | +1.47% | -2.36% | - | ||
| 93.28 RUB | -0.15% | -0.26% | - | ||
Alexander Valentinovich Novak is the Deputy Prime Minister of Russia. Presently, he is Chairman at Transneft PJSC and Chairman of ROSSETI PJSC. Mr. Novak is also on the board of 5 other companies. In his past career he occupied the position of Deputy Governor at Province of Krasnoyarsk and Deputy Director-Personnel & Head-Polar Division at Norilsk Mining & Metallurgical Combine Named After Zavenyagin. He received an undergraduate degree from Norilsk State Industrial Institute and an undergraduate degree from Moscow State University Lomonosov.
View full profile| Linked companies | |
|---|---|
| TRANSNEFT | Chairman |
