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By Olesya Astakhova
ISTANBUL, Oct 11 (Reuters) - Igor Sechin, Russia's mostinfluential oil executive and the head of Kremlin energychampion Rosneft, said his company will not cut orfreeze oil production as part of a possible agreement with OPEC.
His comments underline how difficult it is for Russia to get its oil companies to freeze or cut output as part of apotential deal with the Organization of the Petroleum ExportingCountries designed to support oil prices.
President Vladimir Putin told an energy congress on Mondaythat Russia was ready to join the proposed OPEC cap, but did notprovide any details.
"Why should we do it?" Sechin, known for his anti-OPECposition, told Reuters in Istanbul on Monday evening, when askedif Rosneft, which accounts for 40 percent of Russia's totalcrude oil output, might cap its own output.
Sechin said he doubted that some OPEC countries, such asIran, Saudi Arabia and Venezuela would cut their output either,saying that an increase in oil prices above $50 per barrel wouldmake shale oil projects in the United States profitable.
There have been several attempts in the past for Russia andOPEC to join forces to stabilise oil markets. Those efforts havenever come to pass however.
Oil prices surged on Monday after Putin's comments amidhopes that a two-year price slide could be halted. (Reporting by Olesya Astakhova; Writing by Vladimir Soldatkin;Editing by Katya Golubkova/Andrew Osborn)
BP (BP.)
