Russia’s Transneft CEO says oil output cuts possible in Jun–Aug

MOSCOW, Jan 28 (PRIME) -- Russian oil companies cannot reduce their output during the cold season, but they may do so in June–August, CEO of oil pipeline monopoly Nikolai Tokarev told reporters late Wednesday after a meeting with representatives of oil producers.

“This is really impossible, anyway, this is impossible during winter. There are some options in summer, and technical colleagues confirm that this could be done but only during a warm season. This is ruled out in winter,” Tokarev said.

He said that oil makers have ordered 6% less export traffic with Transneft for 2016 than a year earlier. “We have discussed this topic today, what it was caused by. Perhaps, by a certain redistribution of volumes between the railway and us.”

According to Tokarev, oil companies and Transneft can rearrange the traffic orders in June–August. Companies’ output plans will be ready by May–June, he said.

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