In the second quarter and first half 2017, our total revenues increased by 1.1% and 6.3%, respectively, compared to the corresponding periods of 2016.
Non-oil growth is projected to pick up to 1.7 percent in 2017, but overall real GDP growth is expected to be close to zero as oil GDP declines in line with Saudi Arabia’s commitments under the OPEC+ agreement.
"I warmly welcome Schlumberger as our majority shareholder. It builds on our strategic alliance with Schlumberger since 2011 and our mutually beneficial business relationship since 2007. The combination of the technology knowhow and operational expertise of Schlumberger coupled to the financial strength of the Investment Funds, brings significant benefits to our customers and the Russian conventional land drilling market."
The move fulfills a plan, first outlined in February, to create an Indian oil giant through consolidation and mergers, forming a company comparable with international rivals that could weather crude-price volatility.
ExxonMobil Corp. has decided to walk away from development of the East Natuna natural gas permit in Indonesia saying it no longer wishes to continue discussions or activity in the block.
Для меня создание технологий добычи на шельфе — больший приоритет, чем исключительно наращивание объемов добычи, которое мы можем получить в ближайшие годы. Потому что технологии необходимы для решения стратегических задач.
The U.S. shale boom—which reshaped world markets for crude oil and natural gas before Mr. Trump took office—has only limited impact on Russia’s standing as a major energy provider to Europe and Asia.
Directors underscored that accelerated structural reforms and broader trade relations can help promote a diversified export mix. They also urged the authorities to strengthen property rights, advance privatization, improve governance, and invest in innovation and infrastructure to build the foundations for higher potential growth.
The economy is weathering the post-2014 oil shock well. The key policy goal is to foster economic adjustment to the new oil market realities. To foster the adjustment, especially given downside risks, the momentum in fiscal reforms needs to be sustained and coordinated with structural reforms. To ensure credibility, fiscal adjustment should be accompanied by strengthening the medium-term policy framework and improving transparency. Ongoing initiatives to upgrade the supervisory and regulatory framework for the financial sector are welcome and need to continue. Focused, multi-pronged initiatives to raise productivity and diversify the economy would improve medium-term economic prospects. Amid ongoing economic adjustment, continued improvements in statistics are critical for enhancing policy analysis and decision-making.
Directors observed that the financial sector has remained sound despite the severe stresses. To make the system more robust, they encouraged actions to further strengthen financial safety nets through enhanced monitoring and an improved crisis management framework. Directors underscored the need for continued vigilance and close monitoring of the health of the corporate sector and its impact on the banking system.