Arab News, Thursday, Feb 13, 2020 | Jamadi Al Thani 19, 1441
Russian and Saudi firms discuss joint projects
Saudi Arabia: Russia’s RDIF sovereign wealth fund said on
Wednesday that Russian and Saudi companies have held discussions on possible
joint projects as well as potential investment worth more than $10 billion.
The discussions took place in Saudi Arabia as Russia and the Organization of the
Petroleum Exporting Countries discussed further cooperation on the global oil
Saudi Arabia, a leading voice in OPEC, has been trying to persuade Russia to
join deeper oil production cuts. Moscow has said it will disclose its stance on
that proposal in the coming days.
Saudi business representatives will visit Moscow in the spring and continue
their talks with Russian companies, RDIF said.
Russia has played a central role in the alliance between OPEC and non-OPEC oil
exporters, known as OPEC+, since they began coordinating moves on the oil market