Visit RT.com to check all the latest news on Alexander Novak, a Russian politician and the Minister of Energy of Russia since 2012. Stay with RT to get all the news and details on Alexander Novak’s background and career. Russia’s Energy Minister Alexander Novak says it will take the oil market several months to recover from the pandemic-related turbulence - go to RT.com to get the latest news on the global economic downturn and on the breakup of OPEC+. Check out RT.com for the latest statements from the Russian energy minister, as Saudi Arabia announced a stunning discount of $6-to-$8 per barrel for its customers in Asia, Europe and the US, seen as a sign of an all-out oil price war, after a supply-cut deal between Russia and OPEC collapsed. Follow RT for photos and videos of Alexander Novak, including live feeds from official events. Don’t miss articles on the Russian energy ministers' relations with President Vladimir Putin – find out more on their cooperation and joint statements. Alexander Novak has retained his position as Energy Minister in a new Russian government led by Prime Minister Mikhail Mishustin - follow RT to read more news on Russian politics and current affairs.
Oil producers will not shut down any facilities where they would be unable to relaunch operations, Russian Energy Minister Alexander Novak said, as the OPEC and non-cartel oil producers continued talks on historic output cuts.
On top of the OPEC+ deal that will see oil output cut by 10 million barrels per day, producers outside the group are expected to slash the supply by at least five million more, Russian Energy Minister Alexander Novak said.
It will take the oil market several months to recover from the current turbulence, Russian Energy Minister Alexander Novak said on Tuesday, adding that plummeting oil prices were not a surprise for Russia.
Russia’s geographical position makes its exports of liquefied natural gas (LNG) more profitable and competitive with American and Australian supplies, according to Russia’s Energy Minister Alexander Novak.
The Nord Stream 2 pipeline will be launched by the end of 2020, Russian Minister of Energy Alexander Novak has said. The completion of the project was sabotaged earlier by US sanctions.
Transit of Russian gas by Ukraine will be carried out on mutually beneficial and acceptable conditions for both parties, according to Russian Energy Minister Alexander Novak.
Russia supplies about a fifth of Europe's liquefied natural gas (LNG) needs, which puts it well ahead of the United States, Energy Minister Alexander Novak has said.
The Saudi Arabian Oil Company, Saudi Aramco, may become an investor in Russian LNG projects in the future, according to the Russian Energy Minister Alexander Novak.
The situation with the oil market is unpredictable, with geopolitical factors applying a lot of pressure, Russian Energy Minister Alexander Novak said on Wednesday.