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To: BigBull who wrote (38616)	3/1/1999 4:02:00 PM
From: Crimson Ghost	Respond to of 95453

Russia-OPEC cooperation improving -- energy minister ITAR-TASS News Wire VIENNA, February 27 (Itar-Tass) - Russia's cooperation with the Organisation of Petroleum Exporting Countries, or OPEC, has made an appreciable step forward, said Russian Ful and Energy Minister Sergei Generalov. He attended a roundtable meeting which was held here by delegates of Russian oil companies and OPEC leaders. The discussion, over on Friday night, centered on prospects of Russia-OPEC cooperation in the difficult situation affecting world oil markets. Generalov said in an interview with Itar-Tass that information contacts between OPEC state members and Russian experts have shown improvement. He described as successful his talks in Vienna with OPEC secretary general Rilvanu Luckman. A joint bulletin was issued after Russians began to attend OPEC meetings as observers, he said. Generalov cited as another important step in relations the roundtable format. Russia proposed important topics for discussion, in particular the issue of routing the Caspian oil to world markets, effects of oil outputs on oil prices and prognostication of the situation in world oil markets. Generalov said another issue tipped for discussion was environmental impacts of oil projects. Russia has met its accords with the OPEC on streamlining its oil exports, primarily of oil products, to adjust them to sagging oil prices in the world market. Russian companies also curtailed their oil outputs in the first quarter of this year in a contribution to the small pick-up of oil prices which was seen early in the year, Generalov said. He added that the redundancy measures were motivated primarily by concerns for national consumers. Further prospects of the oil market will depend on decisions of the upcoming OPEC conference, and cooperation of the OPEC with Russia and other countries, Generalov said. (Copyright 1999) _____via IntellX_____ Publication Date: February 27, 1999 Powered by NewsReal's IndustryWatch ...back to top