Russian minister says oil prices to return to ‘fair level’ November 26, 2014 - 15:56 AMT PanARMENIAN.Net - Lower oil prices will close ineffective oil projects, decreasing output to support prices which will return to a "fair level", Russian Energy Minister Alexander Novak said on Wednesday, Nov 26, according to Reuters. In Vienna, talks between Saudi Arabia, fellow OPEC member Venezuela and non-members Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output. OPEC meets on Thursday. Novak told reporters Russia would not postpone its Arctic projects. Western nations imposed sanctions on Russia over Ukraine, including restrictions on foreign firms cooperating with Russian companies to explore the Arctic for hydrocarbons.  Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Protesters rally as Georgia debates 'foreign agent' bill  Georgian critics label the bill "the Russian law", comparing it to legislation used by the Kremlin to crack down on dissent.Azerbaijan, Jordan sign deal on defense cooperation Azerbaijan and Jordan have signed an agreement on cooperation in the field of defense, according to an official statement.First Canadian expert join EU mission in Armenia The first Canadian expert to join the European Union’s civilian mission in Armenia has arrived in Armenia.Armenian cemetery in Fresno hit by arsons six times since January Six total incidents have burned 19 old-growth trees. Friday night 8 trees were torched along the beautiful main entrance. |
