Fitch considers the re-appointment of Novak’s good news for the industry


MOSCOW, may 18. /TASS/. Reassigning Alexander Novak Minister of energy of the Russian Federation is good news for the oil and gas industry, told TASS the Director of the division of corporations, Fitch Dmitry marinchenko.

“For the industry reassign Novak – rather good news, he is sufficiently independent figure, well aware of the problems existing in the industry. It can be expected that Novak would strongly oppose, for example, the increase in taxes – he had previously stressed that to encourage investment, the industry needs clear rules of the game,” said marinchenko TASS.

He agreed that the success of the transaction OPEC+ determined the reappointment of Novak, because the agreement is for Russia “not only economic, but also geopolitical value.”

On may 18 the President of Russia Vladimir Putin signed a decree on appointment of Novak Minister of energy. Novak has held this position since 21 may 2012.

The Secretary-General of the Organization of countries – exporters of oil Mohammed Barkindo told TASS that he welcomes the reappointment of Novak and believes that it is, in particular, is the role of the Minister in the construction of the agreement between the OPEC countries and the “no OPEC”.

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