Russia's Deputy PM Novak, Nigeria's finance minister discuss full cycle of cooperation between countries in oil and gas, coordination in OPEC+

MOSCOW. July 15 (Interfax) - Russia's Deputy Prime Minister Alexander Novak and Nigeria's Finance Minister and Coordinating Minister for Economic Affairs Olawale Edun discussed the respective countries' cooperation in the energy sector, as well as coordination within the Gas Exporting Countries Forum (GECF) and OPEC+, the Russian government said.

"The parties have discussed full-cycle cooperation in the oil and gas industry, from geological exploration to field development, as well as interaction in the energy sector, industrial equipment supplies, and in the financial and banking sector," according to the statement.

Novak noted the friendly nature of the two countries' relations, citing Nigeria a promising partner for Russia in Africa.

"Our joint work within OPEC+ renders a decisive contribution to ensuring stability and predictability of the global oil market. The decisions taken are based on real market indicators and trends and are aimed at balancing this in the face of economic challenges. We believe that our collective actions within OPEC and OPEC+ are in line with long-term national interests and contribute to strengthening the economies of our countries," Novak's said in the statement.

Novak also emphasized Russia's commitment to promoting the legitimate interests of gas exporters in global energy markets.