UPDATE 1-Lukoil shareholder Fedun says Iran not essential for Doha oil deal

jueves 24 de marzo de 2016 11:18 GYT
 

* Fedun: Iran cannot raise oil output sharply without foreign cash

* Fedun voiced support for cooperation with OPEC earlier this year (Adds quotes, details, background)

By Katya Golubkova and Anastasia Lyrchikova

MOSCOW, March 24 (Reuters) - Iran's participation is not essential for the oil market to move closer to balance if a global agreement on freezing production is signed in Doha next month, Leonid Fedun, one of Russia's most prominent oil bosses, said on Thursday.

Fedun, who owns almost 10 percent of Lukoil, was the first Russian oil official to voice support for coordination with OPEC, a month before a preliminary deal on stabilising crude output was reached in Qatar in February.

Last year, Russia and OPEC refused to cooperate on production cuts, choosing to keep fighting for market share by squeezing out high-cost producers such as U.S. shale oil firms.

Keeping production at January levels for the rest of 2016 would in practice yield one of the highest output levels on record, both for Russia and the Organization of the Petroleum Exporting Countries.

"In general, we see that the goals established by the cartel (OPEC) to clean up the market are being reached - (U.S.) shale oil production is falling ... major damage has been inflicted on renewable sources of energy," Fedun told reporters.

"Targets have been met and now proper coordination of efforts is needed, so as not to give too much hope to high-cost producers."   Continuación...