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Austria: Novak touts Russia's competitive oil and gas rates in Vienna01:11

Austria: Novak touts Russia's competitive oil and gas rates in Vienna

Austria, Vienna
June 3, 2015 at 16:27 GMT +00:00 · Published

The Russian Minister of Energy Alexander Novak talked about the positives and advantages that the international markets can make use of if they were to use Russia as the supplier of oil and gas products during OPEC's 6th International Seminar at Hofburg Palace in Vienna, Wednesday.

Novak stated that Russia is able to supply its partners with oil and petroleum products within a broad and competitive price range, which might help to overcome possible shocks and risks in the energy sector.

The minister took part in a session on production capacity and investment objectives and was joined by officials and representatives including Chevron CEO John S. Watson, Total CEO Patrick Pouyanne and Eni CEO Claudio Descalzi.

Russia, the world's largest non-OPEC oil producer, has long been seeking closer ties with the 12-nation group, which accounts for around 40 per cent of global oil output.

Austria: Novak touts Russia's competitive oil and gas rates in Vienna01:11
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Description

The Russian Minister of Energy Alexander Novak talked about the positives and advantages that the international markets can make use of if they were to use Russia as the supplier of oil and gas products during OPEC's 6th International Seminar at Hofburg Palace in Vienna, Wednesday.

Novak stated that Russia is able to supply its partners with oil and petroleum products within a broad and competitive price range, which might help to overcome possible shocks and risks in the energy sector.

The minister took part in a session on production capacity and investment objectives and was joined by officials and representatives including Chevron CEO John S. Watson, Total CEO Patrick Pouyanne and Eni CEO Claudio Descalzi.

Russia, the world's largest non-OPEC oil producer, has long been seeking closer ties with the 12-nation group, which accounts for around 40 per cent of global oil output.

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