Russia says foreign-led projects will cut oil output
09:27, 29/04/2020, WednesdayU: Update: 09:36, 29/04/2020, Wednesday
REUTERS

-FILE PHOTO: A view shows a well head and a drilling rig in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia March 11, 2019
Russian Energy Minister Alexander Novak said on Wednesday that foreign-operated as well as domestic oil projects in the country will reduce output, pro-rata, as part of a global pact to cut crude production, Interfax news agency reported.
International oil majors, such as ExxonMobil and Shell, are involved in several oil and gas projects in Russia operated under production-sharing agreements signed in the 1990s.
Novak also said Russian companies will cut their production by 19% from February levels as part of the global pact to reduce oil output.