Talks between OPEC and its allies next month about whether to extend their pact ...
ST PETERSBURG - Talks between OPEC and its allies next month about whether to extend their pact on cutting oil supplies “won’t be easy” and may be complicated by the situation facing Iran and Venezuela, Kazakh Energy Minister Kanat Bozumbayev said.
The Organization of the Petroleum Exporting Countries and other large oil producers, including Russia and Kazakhstan, meet in Vienna on July 1-2 to discuss whether the oil output deal, which expires after June 30, should be continued. He said Iran and Venezuela both faced U.S. sanctions. “Will they want to or not? It’s hard ,” he said.
Asked about the issue of contaminated oil in Russia’s Druzhba pipeline to Europe, Bozumbayev said Kazakh oil producers and its pipeline operator KazTransOil were still assessing what damages they considered should be paid by Russia’s oil pipeline monopoly, Transneft, which operates Druzhba.
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