ROSNEFT: INVESTMENTS APPROVED
Russia's government "on the whole" has approved the investment programme of the country's top oil producer Rosneft, which has been hit by Western sanctions, Deputy Prime Minister Arkady Dvorkovich told reporters on Tuesday.
He declined to reveal the investment programme, which in 2013 stood at around 600 billion roubles ($15.5 billion).
Dvorkovich also said Rosneft has yet to formally apply for help from the National Wealth Fund and that it must define the projects for which it needs money from the fund.
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Saudi Arabia is considering delaying the international portion of the giant initial public offering of its state oil company until at least 2019, according to people familiar with the situation, who said a domestic share sale in Riyadh could still happen next year.
But we expect a rise in the sector's NPL ratio and muted credit demand in the second half of 2017 and 2018, reflecting the slowing economy. GDP growth slowed to 1.4% in 2016 from 3.4% in 2015 and we expect it to be below 1% in 2017 and 2018.
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