February 13, 2018 / 9:54 AM / 3 months ago

Russia's Novak says oil companies, state yield $43 billion from OPEC deal

MOSCOW (Reuters) - Russian oil companies and the state budget have gained around $43 billion so far thanks to a deal with OPEC to cut oil production, Russian Energy Minister Alexander Novak said on Tuesday, according to RIA news agency.

Russian Energy Minister Alexander Novak addresses a news conference after an OPEC meeting in Vienna, Austria, November 30, 2017. REUTERS/Heinz-Peter Bader

He was quoted as saying that additional gains from the deal for domestic companies totaled 700 billion roubles ($12.1 billion), while the budget had gained 1.7 trillion roubles.

The agreement has been in place since the start of 2017.

($1 = 57.8775 roubles)

Writing by Vladimir Soldatkin; Editing by Dale Hudson

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