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 | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |