By Teddy Nwanunobi
Russia has reaffirmed its commitment to cooperate with the Organisation of the Petroleum Exporting Countries (OPEC), particularly within the framework of the bilateral dialogue and in the OPEC/non-OPEC format.
This, the oil-rich European nation said, is “based on trust, mutual respect and recognition of interests for the benefit of oil producers and consumers”.
Russia made this known in a letter it sent through its Deputy Prime Minister, Mr. Alexander Novak, to the Secretary General of OPEC, H.E. Dr. Mohammad Sanusi Barkindo.
According to the letter, which was dated on July 23, but was received at OPEC on July 27, Russia expressed desire to meet with Barkindo.
“First of all, I would like to thank you for (your) warm congratulations and kind wishes to me on the occasion of the national holiday – Russia Day.
“I share your high assessment of the efficiency of our cooperation within the OPEC/non-OPEC format and, in this regard, would like to underline your invaluable personal contribution as OPEC Secretary General to the joint decisions that ensure the stability and predictability of the world oil market.
“I believe that in the conditions of continued uncertainty in the development of the global economy the significance of the coordinated work in order to maintain the stability of the global energy markets will only increase. The reliable basis for it is the Declaration of Cooperation (DoC) and the Charter of Cooperation.
“I am convinced that further expansion of our cooperation in the direction of elaborating common strategic approaches to the development of the oil sector in the context of the energy transition and accelerating technological progress will contribute to strengthening global energy security and promote the economic development of the participating countries.
“In this regard, I would like to reaffirm the commitment of the Russian side to the development of constructive cooperation with OPEC both within the framework of the bilateral dialogue and in the OPEC/non-OPEC format – based on trust, mutual respect and recognition of interests for the benefit of oil producers and consumers.
“I value our camaraderie. I will be glad to have the opportunity to meet with you in Russia during the Russian Energy Week in October 2021,” the letter read.