Novak is not planning a separate meeting with Minister of oil of Nigeria

© RIA Novosti / Vladimir Traveloperator in fotomancer of energy of Russia Alexander Novak. Archival photoNovak is not planning a separate meeting with Minister of oil of Nigeria© RIA Novosti / Vladimir Traveloperator the image Bank

Russian energy Minister Alexander Novak told RIA Novosti that he plans separate meetings with the Minister of oil of Nigeria Emmanuel IBE Cacique (Emmanuel Ibe Kachikwu).

«No, we’re 24th (July — ed.) only to meet the monitoring Committee», — said Novak on the question of whether the meeting is planned with Cacique.

Earlier in July, Cacique, as reported by Bloomberg, stated that it will not come to a meeting of the monitoring Committee of OPEC and other oil-producing countries (OPEC+) July 24, but plans a meeting with heads of energy of the Russian Federation and Saudi Arabia. Novak recalled that the OPEC members are planning to hold on July 17 in Vienna an extraordinary meeting, which will be involved and Nigeria as a country member of OPEC.

OPEC at the end of 2016, agreed to cut its oil production to 1,254 million barrels a day from October level. Together with OPEC production reduces the number of countries that are not members of the cartel — almost 0.6 million barrels per day. The agreement OPEC+ was concluded in the first half of 2017, in may, its validity was extended until the end of March 2018.

Libya and Nigeria are under no obligation to reduce production. However, as reported earlier in July, OPEC Secretary General Mohammed Barkindo, these countries are expected to send their technical representatives to the meeting of techamerica, which will be held July 22 in St. Petersburg, before the meeting of the Ministerial monitoring Committee on 24 July.

Barkindo also added that growth of oil production in Libya and Nigeria does not affect the efficiency of the transaction OPEC+, since such a possibility was provided for the original agreement.

Novak is not planning a separate meeting with Minister of oil of Nigeria© RIA Novosti, Integratiebeleid in photomontaged forces in the world oil market

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