Russian President Vladimir Putin and Saudi King Salman at G20 summit 2015

06 October, 2017, 00:41 | Author: Katrina Soto
  • Saudi King Salman bin Abdulaziz

US shale oil coming to the market is not a concern, Saudi Energy Minister Khalid al-Falih said on Thursday, adding that demand will absorb it.

In a sign of the improving relationship, Saudi Arabia signed preliminary agreements with Russian Federation to buy S-400 air defence systems, as well as anti-tank weapons and multiple-rocket launchers, the Saudi Arabian Military Industries said.

Saudi King Salman is now in Russian Federation as part of a state visit, the first to Moscow by a reigning Saudi monarch. "Saudi Arabia's position is among the worst of the Gulf Cooperation Council countries", he added.

Earlier this year Saudi Arabia pledged billions of dollars of investment in projects in Indonesia and Malaysia to ensure long-term oil supply deals. "For its part, the Russian side supports the efforts of the Kingdom of Saudi Arabia to unite the Syrian opposition", Lavrov said.

"This is a landmark event", Mr Putin said in televised comments before the meeting at the Kremlin's opulent St Andrew's Hall.

At the Russian Energy Week forum in Moscow, Novak said Russia is implementing oil production cuts as agreed with OPEC and non-OPEC countries, and are achieving the objectives that they set.

The visit by the Saudi king - and his 1,000-strong delegation - is seen as an expression of that revived power, she says.

Saudi Arabia's investment in Russian Federation has already amounted to $1 billion, but Russian Federation intends to increase the amount further at least twice.

Amit Shah to flag off BJP campaign against political violence in Kerala
The attack took place around 9:30pm when the BJP workers were decorating a part of the National Highway 66 for the march. Javadekar had alleged that CPM was involved in "murder politics" that led to the deaths of several BJP and RSS workers.

RDIF head Kirill Dmitriev said his fund was interested in partnering with Saudi investors to acquire a minority stake in Russian oilfield services firm Eurasia Drilling.

US State Department spokesperson Heather Nauert was asked during a recent briefing whether the United States was concerned about the recent moves of its staunch allies - Turkey and Saudi Arabia.

The two countries plan to cooperate on energy, economic development and regional security and have already signed a $1 billion energy investment deal.

Among the deals was an agreement between Russian sovereign wealth fund RDIF and Saudi Arabia's Public Investment Fund to invest up to $100 million in transport projects in Russia.

"I haven't decided whether I'm going to run at all". "We think they're going to stick to the pact and over the coming months they are likely to extend it - hopefully for six months and not three months".

The message of further joint Saudi-Russia action on output helped push up oil prices on Thursday.

The increase followed a widening of the discount for U.S. crude against Brent, making USA oil attractive on world markets.

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