RUSSIA & CHINA DEAL
Moscow and Beijing will sign an agreement on the pipeline shipping gas from Western Siberia to China by the end of the year, Foreign Minister Wang Yi said on Monday, adding that his government will intensify trade ties with Russia in the coming months.
"The China-Russia relationship is not dictated by international vicissitudes and does not target any third party... And the friendship between our two peoples provides a strong foundation for strengthening strategic cooperation between the two sides" Wang Yi commented on Sunday as reported on the website of the Ministry of Foreign Affairs of China's.
The Minister said that the bilateral trade should reach US$100 billion by the end of the year, with a strong focus on financial, oil and gas, and nuclear-power sectors.
"We will start full construction of the eastern route of the natural gas pipeline and sign an agreement on the western route of the pipeline. We will accelerate the joint development and research of long-distance, wide-body passenger jets. We will start strategic cooperation on the development of Russia's Far Eastern region" the Minister added.
According to the preliminary deal signed in November, Gazprom would ship 30 bcm (1 tcf) of gas per year to China National Petroleum Corporation through the Altai gas pipeline. Price remains the main hurdle.
Meanwhile, over the last days, Ukraine's stored gas decreased below the 8,000 mcm threshold. Data published by GIE on Sunday indicate that Ukrainian facilities are 24.88% full.
|July, 12, 10:55:00|
|July, 12, 10:45:00|
|July, 12, 10:40:00|
|July, 12, 10:35:00|
|July, 12, 10:30:00|
|July, 12, 10:25:00|
BLOOMBERG - Treasury Secretary Steven Mnuchin told a Texas judge that Exxon Mobil Corp. doesn’t have a right to see privileged documents related to a $2 million fine assessed against the energy company for violating sanctions related to Russia’s 2014 invasion of Ukraine.
NPD - Preliminary production figures for June 2018 show an average daily production of 1 747 000 barrels of oil, NGL and condensate, which is an increase of 88 000 barrels per day compared to May.
NOVATEK - In the first half 2018, NOVATEK’s hydrocarbons production totaled 264.3 million barrels of oil equivalent (boe), including 32.93 billion cubic meters (bcm) of natural gas and 5,864 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 6.3 million boe, or by 2.4%, as compared to the first half 2017.
REUTERS - Brent crude futures LCOc1 were down 75 cents, or 1 percent, at $78.11 a barrel by 0308 GMT, having fallen as low as $77.60. U.S. crude CLc1 was down 55 cents, or 0.7 percent, at $73.56.