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Alexander Novak, Minister of Energy of the Russian Federation

Saudi Arabia, Russia form oil, gas group

MOSCOW, November 27, 2015 – Saudi Arabia and Russia have created a special joint working group to promote co-operation and dialogue on the oil and gas industry, the Russian Energy Minister Alexander Novak said on Thursday.

Novak made the announcement at a regular meeting between Russian and Saudi officials in Moscow.

 

Saudi Arabia and Russia have both held to a course of continuing production as they vie for global market share.

The two countries followed the US to make up the world’s top three hydrocarbons producers in 2014 – with Russia ahead of Saudi Arabia – according to the US Energy Information Administration.

Novak emphasised the importance of co-operation between OPEC and non-member producers such as Russia.

For more news,  information and interviews on Saudi Arabia’s oil and gas market, click here.

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