21ST MOSCOW WORLD PETROLEUM CONGRESS
The 21st World Petroleum Congress in Moscow is the largest ever in the WPC history. The growing interest in Russian oil & gas industry is an important factor that influence exhibitors' choice for this prestigious international event. Over 600 exhibitors from 50 countries took part in the exhibition of the 21st WPC on the total space of 50,000 sq. meters. International and Russian oil & gas majors, as well as service companies took advantage of this unique opportunity to showcase their businesses to the rest of the world. Among the visitors of the exhibition were over 5,000 senior level delegates and 500 speakers of the Congress.
Congress and Exhibition photos presented here.
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AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.