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Government of the Republic of Tatarstan

Rustam Minnikhanov takes part in OPEC emergency session

17 December 2008, Wednesday

Rustam Minnikhanov and Russian delegation are in business trip in Oran (Algeria) to participate in OPEC (Organization of the Petroleum Exporting Countries) emergency session.

The event is devoted to stabilization of oil prices under world economic crisis conditions. Russia, Omen, Azerbaijan, Syria take part in the session except for 13 OPEC countries.

Russian Delegation headed by Igor Sechin, Vice Premier is presented by Sergey Shmatko, Minister of Energy, representatives of “Rosneft”, “Lukoil”, “Surgutneftegas”. Tatarstan was presented by Rustam Minnikhanov, RT Prime Minister, Shafagat Takhautdinov, General Director of JSC “Tatneft”, Iskander Muflikhanov, Aide to Prime Minister on foreign economic activity.

Iskander Muflikhanov informed that all countries which are not included in OPEC completely supported OPEC decision to decrease the volume of oil production in order to stabilize the prices for hydrocarbon raw materials in world market.

OPEC decided to reduce oil production for 2 million barrels per 24 hours starting from 1, January, 2009.

Igor Sechin announced that Russia is ready to reduce the volume of oil supply for 16 million tones (320 000 barrels per 24 hours) keeping current price-level.

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