Meeting between OPEC and Russia will not result in joint actions on regulating oil prices - Rosneft

MOSCOW, August 20. /TASS/. The meeting between Russia and OPEC (Organization of the Petroleum Exporting Countries) will not lead to any joint actions directed at regulating oil prices, Rosneft Vice President Mikhail Leontyev told TASS on Thursday. "We can monitor [the situation], why not to go to negotiations if we are invited? However, it is senseless to seriously count on some joint actions," Leontyev said. Venezuela, which initiated the meeting, is in a difficult financial situation because of falling oil prices, he continued. "And other OPEC countries - or, to be more precise, one country which substitutes for OPEC now, Saudi Arabia, and other countries that fully support it - are formulating positions contrary to Venezuelan and interests contrary to Venezuelan," Leontyev explained. TASS reported earlier that Venezuela calls for an extraordinary meeting OPEC countries with participation of Russia to develop appropriate measures to deal with another sharp fall in oil prices. The intention was announce on August 12 by Venezuelan President Nicolas Maduro. Russian First Deputy Energy Minister Alexey Texler said that it is not ruled out that the meeting will take place in the nearest future. Answering a question on whether the Energy Ministry is preparing any proposals, Texler told TASS that "it is too early to speak about this." On July 30, Russian Energy Minister Alexander Novak met with OPEC Secretary General Abdullah El-Badri in Moscow. Read more