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Most Russian oil producers want cuts to continue into Q2

February 14/2020

MOSCOW (MRC) -- Most Russian oil companies want oil output cuts to remain for one more quarter, a senior Lukoil official said, adding that there was still no final decision on an OPEC+ deal, said Reuters.

The current agreement on oil output curbs between the Organization of the Petroleum Exporting Countries and its allies led by Russia expires after March.

Ravil Maganov, the company's first executive vice president, made the comment after talks between Russian oil producers and Energy Minister Alexander Novak.

As MRC informed earlier, Tomskneftekhim (TNKhZ), a subsidiary of SIBUR and one of the largest Russian producers of polymers - polypropylene (PP) and high-pressure polyethylene (LDPE), has introduced an advanced process control system APC (Advanced Process Control) at key installations of polypropylene and polyethylene production.

According to the ICIS-MRC Price Report, in September 2019 Tomskneftekhim stopped production for scheduled preventive repairs.
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, petrochemistry, Crude oil.
Category:General News
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