Deal with OPEC + called humiliating for Russia


The billionaire, vice president of PJSC LUKOIL, the main shareholder and former chairman of the board of directors of this company, Leonid Fedun, believes that the new OPEC + transaction has become for Russia an analogue of the Brest Peace for the Bolsheviks. It is an agreement between Russia and Saudi Arabia on the reduction of oil production in May-June 2020 by 2,5 million barrels per day by each country.


Humiliating and heavy

- Leonid Fedun called this agreement, in an interview with the agency RBC.

According to Fedun, oil production would have fallen anyway, and in much larger volumes. Most of the world's oil storages in 40-45 days would be full.

Fedun argues that Russian oil companies simply would not have the opportunity to ship oil, "except for their own refineries." At the same time, consumption in Russia, according to him, is “extremely low, so they could close up to 50% of production”.

At the same time, Fedun emphasized that he did not intimidate, but really assesses the situation. Russian companies would have to close the wells at a world oil price of $ 10-15 per barrel. Because of what they would have suffered huge losses. Therefore, the new OPEC + agreement is, although difficult, but the best option available.

Fedun also described the new OPEC + agreement as a compromise, i.e. it has both positive and negative points. He cited 1918 as an example, when the Bolsheviks were forced to make a deal with Germany.

We remind you that on April 10, 2020, 23 OPEC + countries agreed on oil. The agreement will be valid until April 2022.
Photos used: https://pixabay.com/
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19 comments
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  1. Monster_Fat Offline
    Monster_Fat (What's the difference) April 12 2020 14: 02
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    But what did I say earlier when Novak slammed the door at the OPEC + conference? He said that Russia didn’t just “shoot itself in the foot with this trick, it didn’t just“ bomb Voronezh ”but scandalized Moscow and all of Russia. And for this stupid step,“ effective ”Putin’s spill managers will have to pay (of course, not them they will all be in chocolate, in any situation), and it will be necessary for every Russian to pay - and they already pay - and with a tax on interest on deposits, and rising prices in stores, and a drop, or even a complete lack of salaries and unemployment, and delayed loan and mortgage fees that come it’s all the same to pay, and some banks impudently demand to add interest for prolonging the terms of payments on loans or mortgages. But this is nonsense. The main thing for Russians is not to be upset - these are temporary difficulties, we need to rally around the “president’s team”, he and he Druganov, there are many more KPs that will "bring down the dollar," "destroy the United States," will lead Russia into the leaders of the world economy with 25 million highly paid, high-tech jobs, with the "world level" of science and education .... most importantly, believe, believe and pray for a portrait " sun-faced ", which every correct, scrupulous Russian must have (not to be confused with a bulk-picker, a liberal, an agent of the State Department, etc.) in the" red "corner, every" micro-studio "in the" man room "of the sleeping area somewhere" behind the bypass " , and you must definitely go to temples and listen to the sermons of serpents, the Gossians of the treason. And then Russia will win all! It will rise, like the Phoenix, for the umpteenth time, and all the enemies will prostrate themselves before its power and bright face! Yes it will be, but only with Putin and his team! The main thing is to be patient .... yes
    1. Cheburashk Offline
      Cheburashk (Vladimir) April 12 2020 14: 13
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      Here you are, so smart, good. What are your plans and actions and, most importantly, what resources and so on, well, at least for five years!
      And just in case: I can’t support Putin in every way and express my opinion.
    2. Nick Offline
      Nick (Nikolai) April 12 2020 14: 20
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      Quote: Monster_Fat
      But what did I say earlier when Novak slammed the door at the OPEC + conference? He said: that Russia didn’t just “shoot itself in the foot with this trick, not just“ bombed Voronezh ”, but shandarahna across Moscow and all of Russia.

      Verbal diarrhea. Zero Arguments.
    3. 123 Offline
      123 (123) April 12 2020 14: 33
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      Monster_Fat
      Long verbal flow (I would say a little differently smile ) without any argument. Go about your business, rally around your president, he’s just selling his land at that moment, thinning out for his Filaret and the rest, how many churches are there, by the way? 5? 6? Your nagging here is of little interest to anyone. no Learn to fight envy, it is known to be a sin. yes
    4. shadow Offline
      shadow April 12 2020 18: 17
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      Actually, it’s not Novak who broke the deal, but the Saudis. It was they who came out of the agreement and said that they would lower prices to $ 25 per 1 barrel and increase production to 12 million barrels per day. What, incidentally, Putin said.
      1. ss29 Offline
        ss29 April 13 2020 02: 09
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        At first, the Saudis suggested we reduce by 1.5 million, we refused. On April 1, the agreement ended; on April 9, they crawled with a white flag. Now, on the news, they are launching a misinformation about the Saudis.
  2. Nick Offline
    Nick (Nikolai) April 12 2020 14: 17
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    The title of the article does not match the content. No one considers a humiliating deal.
    1. Blondy Offline
      Blondy (Blondy) April 12 2020 15: 03
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      I already mentioned somewhere that the main thing here is not absolute numbers (only 10 - 15 million barrels), but the proportionality of the reduction. And if Russia is reducing not 0,5, but 2 million, then the Saudis are already 4 (I do not agree with the reduction share only in Mexico). I don’t think that Fedulov does not understand - he just juggles, but here they don’t play cards either.
      1. ss29 Offline
        ss29 April 13 2020 02: 10
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        The difference in conservation technologies in Siberia and permafrost is much more expensive. Other numbers are important here. USA all bent.
  3. 123 Offline
    123 (123) April 12 2020 14: 27
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    Even the eternally aching Fedun regarded the agreement as a compromise.

    Fedun also described the new OPEC + agreement as a compromise, i.e. it has both positive and negative points.

    But the nasty anonymous people still trumpet the sink.
    1. Nick Offline
      Nick (Nikolai) April 12 2020 18: 30
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      Quote: 123
      Even the eternally aching Fedun regarded the agreement as a compromise.

      Fedun also described the new OPEC + agreement as a compromise, i.e. it has both positive and negative points.

      But the nasty anonymous people still trumpet the sink.

      Trumpeters work piece by piece. They will not blow - money will not be charged.
      1. 123 Offline
        123 (123) April 12 2020 18: 58
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        Trumpeters work piece by piece. They will not blow - money will not be charged.

        I would not pay for such work. no Brakodely. yes
  4. Monster_Fat Offline
    Monster_Fat (What's the difference) April 12 2020 16: 57
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    Who needs "numbers" and "detailed information" about the transaction and its consequences - I refer to a similar topic on "Topwar" there, at the bottom of the article there are a lot of interesting comments, there is also my comment, just with the "numbers":

    https://topwar.ru/170114-v-lukojle-soglashenie-opek-nazvali-unizitelnoj-no-neobhodimoj-sdelkoj.html

    And by the way, Fedun called it (the agreement) not a "compromise", but:

    I would give an example of the Brest Peace when the Bolsheviks in 1918 were forced, for various reasons, to make a deal with Germany, which was humiliating and difficult.

    That is, he called the deal - "humiliating and difficult" ....
    1. 123 Offline
      123 (123) April 12 2020 19: 04
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      Who needs "numbers" and "detailed information" about the transaction and its consequences - I refer to a similar topic on "Topwar". There, at the bottom of the article, there are a lot of interesting comments, there is also my comment, just with "numbers":

      What's the point? Do you advertise "Topwar"? Like, here and go there to discuss. As for the eternally aching Fedun, there will always be someone unhappy. Perhaps from his "bell tower" events look exactly like that. Lukoil is not the whole oil industry, decisions were made at a different level, it is not so important how comfortable it was for a particular Fedun.
    2. Andrei GM Offline
      Andrei GM (Andrei) April 12 2020 19: 04
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      "US oil production could fall by 2 million bpd by the end of the year," Bloomberg reports the words of US Energy Secretary Dan Bruyett. He added that in a number of models, US production cuts could reach 3 million bps. According to him, it is necessary to stop the decline in oil prices to stabilize the market.
    3. Nick Offline
      Nick (Nikolai) April 12 2020 19: 09
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      Quote: Monster_Fat
      And by the way, Fedun called it (the agreement) not a "compromise", but:

      And who is Fedun? The ultimate truth? For me, he is an overgrown oligarch, afraid for his cheaper Lukoil stocks and dividends. Therefore, he is spiteful. What side are you talking to him? Relative? Or in the service?
    4. Marzhecki Offline
      Marzhecki (Sergei) April 13 2020 06: 56
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      It’s useless for some people to prove something even with numbers and a deal already signed. I wrote about the fact that we will merge a few weeks ago, for which the local cheers patriotized me. In the end, everything turned out exactly as I wrote, but these characters are all on the drum, in their creation, the HPP outplayed everyone again.
  5. Sergey Latyshev Offline
    Sergey Latyshev (Serge) April 12 2020 23: 33
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    Lukoil, they wrote, has long been under foreign control. So do not care.

    Much worse than what was reported, Moscow specifically decided to raise domestic gas prices.
    Allegedly save the oil industry. They will not produce cheap, they will not import it.
  6. bonifacius Offline
    bonifacius (Alex) April 13 2020 02: 01
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    Well, if the current oil deal is the Brest Peace, then Sechin is Trotsky.