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2014-06-24 21:55:00

SOUTH STREAM: GAZPROM & OMV

SOUTH STREAM: GAZPROM & OMV

Russia's Gazprom finalised a deal on Tuesday to build a branch of its controversial South Stream gas pipeline to Austria, in the face of EU opposition to the project.

The signing of the agreement by the chief executives of Gazprom and Austrian oil and gas group OMV took place in Vienna as Russian President Vladimir Putin flew in to the Austrian capital for a one-day working visit.

South Stream, which will cost an estimated $40 billion, is designed to carry Russian gas to the centre of Europe, a continent already dependent on Russia for a third of its gas needs, on a route that bypasses current transit country Ukraine.

"This investment decision is an investment into the security of the gas supply for Europe," OMV CEO Gerhard Roiss told a news conference after the signing.

reuters.com

Tags: SOUTH, STREAM, GAZPROM, OMV, GAS

Chronicle:

SOUTH STREAM: GAZPROM & OMV
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

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.

SOUTH STREAM: GAZPROM & OMV
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

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.

SOUTH STREAM: GAZPROM & OMV
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

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.

SOUTH STREAM: GAZPROM & OMV
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

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.

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