Russia negotiates with Saudi Arabia to reduce oil production and build nuclear power plants
OPEC will decide to limit oil production by November 30.
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This was announced by Russian Energy Minister Alexander Novak following negotiations with colleagues from Saudi Arabia and Qatar.
“Issues regarding the level of restrictions on oil production by Russia and other countries that may join the agreement were discussed, but it is premature to give specific numbers, since the process of coordinating positions is underway. We will continue to work with experts until November 30, when OPEC plans to develop a joint decision,” the official website of the Russian Ministry of Energy quotes Novak.
The head of the Russian energy department emphasized that the solutions that are being worked out will satisfy all countries. During the working trip to Riyadh, a wide range of issues of strategic partnership between Russia and Saudi Arabia were also discussed.
“We agreed on technological cooperation in the field of oil and gas production and processing, as well as on the implementation of a number of joint projects. We discussed the prospects for cooperation in the nuclear sector, in the construction of a tanker fleet and in the electric power industry,” Novak said.
In 2015, the then head of Rosatom, Sergei Kiriyenko, stated that Saudi Arabia intends to build 16 nuclear power plant units worth $100 billion.
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