ROSNEFT & CINOPEC MEETING
As part of the preparations for the visit of the Russian Federation President Vladimir Putin to China, Rosneft President, Chairman of the Management Board Igor Sechin held a meeting with Fu Chengyu, Chairman of China Petroleum and Chemical Corp (Sinopec) 15 May 2014 in Beijing.
In the course of negotiations, the parties discussed a wide range of topics on current projects and perspectives for an enhanced cooperation, including possible conclusion of a long-term contract on oil delivery. The company executives noted satisfaction with current cooperation on a number of joint projects.
The companies created three working groups, including cooperation in the region of long-term contracts on hydrocarbons delivery, cooperation in the region of extraction, and implementation of Eastern Petrochemical Company project.
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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.