$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.
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LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.
BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.
REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.
ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.