GAZPROM'S INVESTMENT 2017: RUB 910.67 BLN
The Gazprom Board of Directors took note of the information about the Company's preliminary operating results for 2016 and the projected Investment Program, budget (financial plan), and cost optimization (reduction) program for 2018–2019.
The Gazprom Board of Directors also approved the Company's Investment Program, budget (financial plan), and cost optimization (reduction) program for 2017.
Pursuant to Gazprom's approved budget (financial plan), the overall amount of investments in 2017 will stand at RUB 910.67 billion, with RUB 625.455 billion intended for construction projects, RUB 0.125 billion for the acquisition of non-current assets, and RUB 285.09 billion for long-term financial investments.
In line with Gazprom's budget (financial plan) for 2017, the external financial borrowings will total RUB 288.26 billion. The approved financial plan will provide for a full coverage of Gazprom's liabilities without a deficit.
The cost optimization (reduction) program for 2017 includes cost optimization (reduction) measures with an expected cumulative effect of RUB 12.24 billion.
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BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.
The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.
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