GAZPROM & LUKOIL: $30 BLN FOR MEXICO
Russian energy giants Gazprom and Lukoil are interested in investing in the power generation sector in Mexico, the Bloomberg news agency reported on Thursday citing CEO of the ProMexico trade and investment promotion organization, writes ITAR-TASS.
Francisco Gonzalez Diaz said Mexico is expected to get $30 billion in foreign investment next year. In particular, the country's reforms in the energy sector will enable Russian companies to cooperate with the Mexican state-owned electric utility, CFE.
In February, Russian oil company Gazprom Neft announced plans to expand its asset portfolio with oil production in Mexico. Russia's second largest oil company, Lukoil, signed a cooperation agreement with the Mexican state-owned petroleum and petrochemical company Pemex in January.
Lukoil CEO Vagit Alekperov later said the company planned to join Mexico's offshore projects in the Gulf of Mexico.
In August last year, Russia's giant energy monopoly Gazprom showed interest in Mexico's infrastructure projects, and in particular, in modernizing the gas pipeline system of Mexico's Pemex.
Over 70 years, private companies had no access to Mexico's energy market. An energy reform carried out last year allowed foreign companies access to oil and gas fields in the country.
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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.