Under the first agreement, Shell has completed the sale to a subsidiary of Canadian Natural Resources Limited (“Canadian Natural”) its entire 60% interest in AOSP, its 100% interest in the Peace River Complex in-situ assets, including Carmon Creek, and a number of undeveloped oil sands leases in Alberta, Canada. The consideration to Shell from Canadian Natural is approximately $8.2 billion (C$10.9 billion), comprised of $5.3 billion in cash plus around 98 million Canadian Natural shares currently valued at $2.9 billion. Shell’s share position in Canadian Natural will be managed for value realisation over time.
Qatar faces rising competition from a tide of new LNG from sources including Australia, which is expected to surpass it as the world's top exporter by 2019.
Profit attributable to the owners of PJSC Gazprom for the three months ended March 31, 2017 totaled RUB 333,453 million which is RUB 28,856 million, or 8 % less than for the same period of the prior year.
“Market should play a decisive role in resource allocation and the government role should be better played in order to safeguard national energy security, boost productivity and meet people’s needs,” the reform guideline said.
In the first quarter of 2017, profit attributable to PJSC LUKOIL shareholders was 62.3 bln RUB, up 33.7% and 45.5% quarter-on-quarter and year-on-year, respectively. Profit was significantly impacted by non-cash foreign exchange loss. Excluding this item, profit attributable to PJSC LUKOIL shareholders amounted to 97.1 bln RUB, a 22.7% increase year-on-year.
Saudi Aramco today signed agreements with major U.S. companies which will pave way for the company to enhance its business synergy with the U.S. as well as attracting investments from its U.S. counterparts to the Kingdom.
IMF - advancing decisively on the structural reform agenda to improve growth potential and rebalance growth towards non-commodity sectors.
The recent steps to increase the transparency of fiscal policy through the publication of the Fiscal Balance Program and the First Quarter Budget Report are very welcome. This greater transparency will help private businesses and investors better plan their investment and employment decisions.
Rosneft and Eni S.p.A. entered into a Cooperation extension agreement in the areas of upstream, refining, marketing and trading during the visit of an Italian delegation to Russia. The document was signed by Rosneft CEO Igor Sechin and Eni CEO Claudio Descalzi in the presence of Russian President Vladimir Putin and Italian Prime Minister Paolo Gentiloni.
Iran said that it has plans to increase its crude oil production capacity by 3 million barrels per day.