SOUTH STREAM: SERBIA START
Gazprom is working with Serbia to kickstart construction works of the local leg of the South Stream project, with newspapers reporting that the operations could start as soon as in October.
'The parties discussed the main areas and outlooks of the cooperation in the energy sector, placing an emphasis on the South Stream construction. At present, the parties involved in the project are finishing the preparation of the intergovernmental agreement providing for joint construction and subsequent operation of a gas branch from the gas trunkline to Republika Srpska as well as boosting the gas-based power industry in the country,' reads a note released by Gazprom on Tuesday, referring to a meeting between Gazprom's Alexey Miller and Milorad Dodik, President of Republika Srpska.
According to the press release, the meeting participants signed the Basic Terms and Conditions of natural gas supply to the country.
Meanwhile, local media said that the construction work in Serbia will start regardless the settlement of the controversies in Bulgaria. Gazprom's officials see operations to start in October.
RUSSIAN DECISIONS TO AFFECT ENERGY SECURITY OF EU, SAYS UKRAINE
The long distance arm-wrestling between Kiev and Moscow continued also on Wednesday, with Ukraine's Minister of Energy and Coal Industry saying that the decrease in volumes poses a threat for energy security in Ukraine and in the European Union.
'The Minister of Energy and Coal Industry of Ukraine Yurii Prodan sent a letter to the Vice-President of the European Commission Günther Oettinger. The reason is the concern of Ukraine regarding the transit of Russian natural gas via the territory of Ukraine and the Slovak Republic,' reads another communiqué published on Wednesday.
Ukrainian authorities lamented possible backlashes of Russian decisions on Ukraine, saying that the decrease in volumes through Ukraine and Slovakia and the simultaneous increase through Yamal-Europe and Nord Stream pipelines are dangerous also for Brussels.
'Moreover, in the letter Yurii Prodan appeals to the European Commission with a request to contribute to settlement of the situation which occurred in order to resume and normalize transit deliveries of the Russian gas through the territory of Ukraine and the Republic of Slovakia.'
Other reports indicate that Ukrainian authorities are mulling the possibility of importing natural gas from Norway.
On the other hand, Russian authorities said that gas supplies are not breaking any contract.
'Mr Miller reported in particular that gas supplies to European consumers are going ahead in accordance with contract obligations and updated the President on talks on gas supplies to China and on the company's gas production plans this year,' the Kremlin wrote on its website, referring to a meeting between Gazprom's Miller and Russian President Vladimir Putin.
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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.