NORD STREAM - 2
GAZPROM - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, took place in St. Petersburg today.
The meeting addressed Russian gas supplies to Austria. In 2016, Gazprom exported 6.1 billion cubic meters of gas to Austria, which was 37.9 per cent higher than in 2015. The upward trend in gas demand continues in early 2017, as gas deliveries added 109.8 per cent in January and the first half of February 2017 compared to the same period of 2016.
Particular attention was paid to the Nord Stream 2 project. The parties noted that the gas pipeline would ensure reliable supplies of Russian gas to the European market, playing a crucial role in the European Union's energy security.
The meeting also touched upon the issues related to the asset swap between Gazprom and OMV.
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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.