Russian Federation cuts oil output by 346000 bpd in Sept: Novak

Laura Christensen
October 6, 2017

Saudi Arabia's ministry of information called the visit by 81-year-old Salman "historic" as it would be the first official visit to Russian Federation by a Saudi monarch.

It can track and engage up to 300 targets at the same time and has an altitude ceiling of 27 kilometers.

President Vladimir Putin hailed the visit by the 81-year-old king as a "momentous" event, reported Russian state news agency RIA Novosti.

The Russian Direct Investment Fund on Thursday will also sign an MoU with Aramco and Saudi's Public Investment Fund for investments in energy services and manufacturing.

According to Putin, now over one-third of Russia's electricity is produced with nuclear energy, hydroelectric energy and other renewable energy sources, while about 50 percent of it is generated with natural gas, which helps to significantly reduce emissions.

Despite regional disagreements, the two countries found common ground on energy policy in November when they led a deal between Opec and non-Opec states to cut production in a bid to shore up crude prices.

Food security is a major concern for Saudi Arabia, which stopped local production of livestock feed and wheat due to water scarcity.

Bangladesh says Myanmar makes proposal to take back Rohingya refugees
According to him, both sides made a decision to form a joint working group soon which will draw up plans for the repatriation of Rohingya refugees.

Putin visited Riyadh in 2007.

Asked by reporters in Moscow whether an oil production-cutting deal should be extended beyond March, Zanganeh said, "We have not discussed with each other in this regard".

The occasion is the first time a Saudi King has visited Russian Federation.

Saudi king at airport, Russian Deputy Prime Minister Dimitriy Rogozin and Russian Foreign Minister Mikhail Bogdanov welcomed. We are looking at opportunities for working together with the different companies.

"Saudi Arabia has started investing in the Russian economy, construction, and other spheres", he highlighted.

Khalid Bin Abdulaziz Al-Falih, Saudi Arabia's energy minister and president of OPEC, speaks as Alexander Novak, Russia's energy minister, left, listens during a news conference following the 172nd Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Thursday, May 25, 2017.

"The stakes are as high for Moscow as for Riyadh".

Other reports by My Hot News

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