Sechin: Rosneft to fulfil all obligations under supply contracts

Rosneft will fulfil all obligations under supply contracts despite output cuts as part of the OPEC+ deal, Rosneft CEO Igor Sechin said in a statement on Friday.

"There is no doubt Rosneft will strictly fulfil all obligations under supply contracts with its foreign and Russian counterparties despite output cuts made by the company as a part of OPEC+ deal," Reuters cited Sechin as saying.

Russian President Vladimir Putin, who decides on oil policy, spoke with Saudi Crown Prince Mohammed bin Salman on Wednesday about "close coordination" on output cuts, agreed in April to tackle oil market weakness because of the coronavirus pandemic.

Saudi Arabia, de facto leader of the Organization of the Petroleum Exporting Countries, proposes to extend the record cuts until December.