G8 finance ministers issued instructions on elaboration of standards for oil stocks and reserves classification

St. Petersburg, June 10. Interfax

The finance ministers of the Group of Eight countries issued instructions to the international organizations on elaboration of standards for oil stocks and reserves classification, Russia’s finance minister, Alexei Kudrin, announced at the press conference held in St. Petersburg on Saturday.

“We’ve issued the correspondent instructions to the international structures that will be engaged in this task,” he said.

Kudrin pointed out that G8 finance ministers also deemed it necessary to expand the current reporting standards for oil stocks and reserves.