RUSSIAN GAS TO HUNGARY: + 37%
GAZPROM - A working meeting between Alexey Miller, Chairman of the Management Committee of Gazprom, and Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, took place at the St. Petersburg International Economic Forum 2017.
The parties discussed Russian gas exports to Hungary, noting that 2017 saw the demand for Russian gas in Hungary growing rapidly: over the past five months, Gazprom's gas supplies to the country added 37.3 per cent compared to the January–May period of 2016.
In 2016, Russian gas exports to Hungary totaled 5.7 billion cubic meters.
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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.