/ News
June 15, 2018

Russia and Saudi Arabia Agreed on Enhancing Power Industry Cooperation

The Russian Federation and Saudi Arabia agreed to take the next step toward expanding power industry cooperation, especially in the oil and gas sector. This was declared in a joint statement of Alexander Novak, Minister of Energy of Russia, and Khalid al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia, published on the website of the Ministry of Energy on 14 June 2018.

The parties shall follow the principles of striving for a balanced market, which is supported by a reliable and sufficient supply; common responsibility of all parties for the stability of the oil market; oil and gas supply as a key element of the global energy balance in shaping the world regulatory agenda; investment in the oil and gas sector to meet the growing demand for oil and compensate for the natural decline of production.

One of the principles also mentioned is the growth of investments in the energy sector to improve the energy efficiency and stability of the world economy, alongside with the acceleration of technological progress. In addition, Russia and Saudi Arabia have agreed to work together on a comprehensive bilateral agreement reflecting the principles mentioned.

“The parties also agreed to work together with all signatories of the Declaration on Cooperation to create a long-term structure for cooperation, as well as to invite other major oil producers to cooperate,” the statement said.

Mr. Khalid al-Falih was a guest of the first International Forum ‘Russian Energy Week’, which took place in Moscow and St. Petersburg in 2017 and participated in the plenary session called The Russian Fuel and Energy Industry: National Interests and Global Trends.

Also on 14 June 2018, the Minister of Energy Alexander Novak participated in the meeting of the President of the Russian Federation Vladimir Putin with Crown Prince and Defence Minister of Saudi Arabia Mohammad bin Salman Al Saud. During the meeting it was noted that over the past several years the countries have come far in terms of developing bilateral relations in many fields – political, economic, industrial, oil-related. In particular, the point was that the stabilisation achieved in oil prices helped to stabilise the entire global economy.

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02 October 2017 Winners of the third Russian MediaTEK 2017 contest to be awarded during REW 2017

The winners of the Russian contest among the media, the press services of fuel and energy companies, and regional administrations MediaTEK 2017 will be awarded as part of the business programme of the Russian Energy Week international forum on 4–5 October 2017. The contest received roughly 400 works from 55 regions of Russia. The most active regions in terms of the number of applications were the Yamalo-Nenets Autonomous District, Krasnodar Territory, Leningrad Region, Krasnoyarsk Territory, Republic of Tatarstan, Khanty-Mansi Autonomous District, Kemerovo Region, St. Petersburg, and Moscow. The winner in the ‘Best Press Service’ nomination in the ‘National Fuel and Energy Sector Companies’ category was the company IDGC of the North Caucasus, while the winner in the ‘Regional Fuel and Energy Sector Companies’ category was Tatneft. Siberian Coal Energy Company took first place in the ‘Promotion of Fuel and Energy Sector Professions’ nomination among national companies, while the Kirov branch of T Plus along with the Kirov branch of IDGC of Centre and Volga Region – Kirovenergo took the top spot among regional companies. The contest’s Expert Council also established special prizes, which were awarded to 11 participants in the MediaTEK 2017 competition. The awards will be presented as part of REW 2017 by members of the MediaTEK Expert Council, which includes Russian Minister of Energy Alexander Novak, Deputy Head of the Administration of the Russian President and Press Secretary of the Russian President Dmitry Peskov, Dean of the Faculty of Communications, Media, and Design at the Higher School of Economics Andrey Bystritsky, Dean of the Faculty of Journalism at Lomonosov Moscow State University Yelena Vartanova, Interfax Information Agency First Deputy CEO Georgy Gulia, Russian Deputy Minister of Energy Anton Inyutsyn, Russia Today International Information Agency General Director Dmitry Kiselev, Eventica Communications General Director Sergey Kolushev, President of the Global Energy Association for the Development of International Energy Research and Projects Igor Lobovsky, TASS Information Agency General Director Sergey Mikhailov, and Kommersant Newspaper Editor-in-Chief Sergey Yakovlev.