Russia intends to fully meet its OPEC+ quota in February

  MOSCOW:  Russia intends to fully meet its OPEC+ quota in February despite a decrease in refining, Deputy Prime Minister Alexander Novak sa...

 

MOSCOW:  Russia intends to fully meet its OPEC+ quota in February despite a decrease in refining, Deputy Prime Minister Alexander Novak said.

"We will fulfill our obligations," he told reporters when asked whether Russia will boost export of oil in February to offset a decline in refining.

Russia’s OPEC+ obligations imply reduction of both supplies of oil and petroleum products. Bloomberg reported earlier that Russia cut the production of petroleum products in the middle of February.

Lukoil said in January that the operation of a unit at the Nizhniy Novgorod Refinery had been temporarily suspended due to an incident.

Lukoil-Nizhegorodnefteorgsintez is one of the leading refining enterprises with petroleum profile in Russia with an installed oil processing capacity of 17 mln tons per year.

-News Feed