RUSSIAN GAS FOR GERMANY: UP TO 23%
GAZPROM wrote, a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Mario Mehren, Chairman of the Board of Executive Directors of Wintershall Holding, took place at the Gazprom headquarters.
The parties discussed Russian gas exports to Germany. It was noted that Gazprom's supplies to the German market continued to grow, rising 23 per cent this September and 20.4 per cent this October versus the corresponding months of 2015.
The meeting participants also touched upon joint production projects, paying special attention to the progress of the Nord Stream 2 project.
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AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.