$350 FOR $400 B
The price of gas in a long-awaited gas deal between China and Russia signed Wednesday is close to $350 a thousand cubic meters, Russian Energy Minister Alexander Novak said Friday in an interview with Russian state TV channel Rossiya 24.
Mr. Novak said the $350 figure was "close to the contract" but cautioned that "the price is tied to the oil product basket, which is why it may be different each time."
Russia didn't disclose the gas price when it signed its $400-billion 30-year landmark agreement with China on Wednesday, with OAO Gazprom Chief Executive Alexei Miller saying at the time that the figure was a commercial secret.
Russian President Vladimir Putin said Friday that at the agreed price and volume, the investment required for the project would pay off.
Analysts have differed in their views on what the gas price might be in the deal but most agreed that the project would require major investment from Russia that could financially strain Gazprom. Others suggested that the benefit of entering the fast-growing Chinese market outweighs the financial impact on the company.
|March, 23, 08:40:00|
|March, 23, 08:35:00|
|March, 23, 08:30:00|
|March, 23, 08:25:00|
|March, 23, 08:20:00|
|March, 23, 08:15:00|
WNN - Asia needs nuclear energy to meet its economic, energy and environmental goals, but such plans are still in the development phase in the South East region of the continent, Agneta Rising, director general of World Nuclear Association, said.
NPD - Preliminary production figures for February 2018 show an average daily production of 1 944 000 barrels of oil, NGL and condensate, which is a decrease of 83 000 barrels per day compared to January.
AOG - China National Petroleum Corporation (CNPC), the world’s third largest oil company, has been awarded stakes in two of Abu Dhabi’s offshore concession areas following the signing of agreements with Abu Dhabi National Oil Company (ADNOC).
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.69 a barrel at 0744 GMT, up 15 cents, or 0.2 percent, from their previous close. Brent crude futures LCOc1 were at $67.56 per barrel, up 14 cents, or 0.2 percent.