By October 20, 2016 Read More →

Rosneft Chairman: We’ll follow government orders on output freeze


Head of Russian state oil firm Rosneft Igor Sechin says the company will carry out whatever instructions it receives from the Russian government concerning an oil output freeze. Reuters photo by Sergei Karpukhin.

“Rosneft is going to carry out any instructions”

(Adds Sechin quotes)

VERONA, Italy, Oct 20 (Reuters) – Igor Sechin, the chairman of Russian oil giant Rosneft, said on Thursday the company will carry out whatever instructions it is given by the Russian government regarding a freeze on oil output.

“Rosneft is going to carry out any instructions from the Russian Federation’s Energy Ministry,” Sechin told reporters on the sidelines of a business conference in Italy.

This reverses his position he offered on Monday, Oct. 10, when Sechin, known for his anti-OPEC stance asked “why should we do it” after he was asked by Reuters about the possible oil output freeze.

That same day, Russian President Vladimir Putin told an energy congress in Isanbul that Russia was ready to join a proposed OPEC cap.

(Reporting by Oksana Kobzeva; Writing by Christian Lowe; Editing by Maria Kiselyova)

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