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.