GREECE & RUSSIA PIPELINE
Greece's energy minister has discussed in Moscow the construction of a pipeline that will transport Russian gas to Europe through its territory, the Greek energy ministry said on Saturday.
Cash-strapped Greece has been making overtures to Russia since the leftist government of Alexis Tsipras took power in January. Athens says Moscow is considering paying it in advance for the Turkish Stream pipeline after abandoning the South Stream project last year.
Energy Minister Panagiotis Lafazanis, part of the government's far-left faction that is keen to boost ties with Russia, travelled to Moscow on Friday for talks with his Russian counterpart Alexander Novak, Deputy Finance Minister Sergei Storchak and Gazprom Chief Executive Alexei Miller.
Lafazanis and Storchak discussed the funding of the pipeline which will be built by a consortium of Russian and European firms, including a Greek state company, Greece's energy ministry said in a statement.
Russian banks have expressed interest in funding the project, the ministry added.
After aborting a $40 billion South Stream pipeline last year, Russia is planning to build the Turkish Stream project to Turkey and further on to Greece via the Black Sea, in line with its plans to stop exporting gas via Ukraine by 2019.
Greece and its EU/IMF creditors have been locked in talks for months on a cash-for-reforms deal and pressure is growing for a deal, since Athens risks default without aid from a bailout programme that expires on June 30.
During his visit in Moscow, Lafazanis also expressed Greece's interest in taking part in a development bank that a bloc of emerging economies - Brazil, Russia, India, China and South Africa (BRICS) - plan to launch in July, aiming at funding infrastructure.
Storchak said Russia will support the Greek request and made clear the country's contribution to the fund will be very low.
|December, 15, 13:20:00|
|December, 15, 13:15:00|
|December, 15, 13:10:00|
|December, 15, 13:05:00|
|December, 15, 13:00:00|
|December, 15, 12:55:00|
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.