Saudi energy minister and Russian counterpart agree on continued coordination

Russian Energy Minister Alexander Novak and Saudi Arabian Energy Minister Khalid Al-Falih shake hands ahead of a meeting in Moscow, Russia. (File Photo Reuters)
Updated 03 July 2018
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Saudi energy minister and Russian counterpart agree on continued coordination

RIYADH: Saudi Minister of Energy, Industry and Mineral Resources, Khalid Al-Falih, held a telephone discussion on Monday evening with the Russian Minister of Energy Alexander Novak, in which the two ministers reviewed recent developments in the international oil market.
Among the major topics of discussion was the June 23rd statement of the OPEC and non-OPEC Ministerial Meeting in Vienna to adjust the collective overall conformity from its May 2018 level of 147% to 100%, starting July 1st, which is approximately equivalent to an additional one million barrels a day.
Al-Falih, as the chairman of the Joint Ministerial Monitoring Committee (JMMC), and Novak as co-chairman discussed the need to modify the current monitoring process to reflect the agreed objective of adjusting overall conformity to 100% as per the OPEC and non-OPEC statement.
They also agreed to task the Joint Technical Committee (JTC) with developing and recommending a suitable process for the consideration of the JMMC.
The ministers also agreed to continue close bilateral coordination and consultation, and among other producing partners in the Declaration of Cooperation in the interest of producers, consumers and the global economy.


Iranian regime continues to feed sectarianism: Saudi deputy defense minister

Updated 7 min 21 sec ago
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Iranian regime continues to feed sectarianism: Saudi deputy defense minister

  • “We have to choose between the chaos that Iran spreads and stability, security and development,” he said
  • A delegation led by Prince Khalid bin Salman bin Abdulaziz, the Saudi deputy minister of defense, has arrived in Russia for an official visit on Tuesday

DUBAI: Saudi Arabia’s Deputy Defense Minister Khalid bin Salman said the Iranian regime continues to feed sectarianism and disrespect international laws at the eighth Moscow Conference on International Security on Wednesday.

“We have to choose between the chaos that Iran spreads and stability, security and development,” he said adding that “Iran is spreading chaos in the region through destruction and bloodshed, and by supporting the militias of Hezbollah and Houthis.”

“Houthi militias continue to violate the resolutions of the Security Council and the Stockholm Agreement, ignored UN resolution 2216 and the Gulf initiative…our goal is to achieve stability for Yemeni citizens under a legitimate government,” he said.

The deputy defense minister also said that the Kingdom is witnessing today an unprecedented transformation and development to achieve the vision 2030.

A delegation led by Prince Khalid bin Salman bin Abdulaziz, the Saudi deputy minister of defense, has arrived in Russia for an official visit on Tuesday, during which the members will take part in the eighth Moscow Conference on International Security and hold a number of meetings.

Prince Khalid was welcomed by Saudi Ambassador to Russia Dr. Raed Qurmali, military adviser Maj. Gen. Talal Al-Otaibi and Military Attache Gen. Mohammad Al-Mutairi, along with the deputy chief of staff of the Russian defense ministry and other civilian and military officials.