Rosneft announces it repaid part of a loan obtained to finance the acquisition of TNK-BP. On December, 22 The Company paid to lenders around USD 7 bln.
In such a manner, the overall amount paid throughout the year totaled USD 24 bln, in full accordance with the credit agreement.
Rosneft Head Igor Sechin said that: "To service its debt the Company does not need to enter the currency market, because it generates enough foreign currency earnings. Surplus balances are used on the market, in such a manner, the Company positively affects the Russian currency market. The funds, inquired from the NWF, if received, will be used for the realization of projects, aimed at the strategic development of Russian regions".
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BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.
The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading up 41 cents, or 0.8 percent, at $50.30 by 0852 GMT, near the three-month high of $50.50 it reached last Thursday. Brent crude futures LCOc1, the benchmark for oil prices outside the United States, were at $55.91 a barrel, up 29 cents, and also not far from the near five-month high of $55.99 touched on Thursday.
“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.