OGJ - President Donald J. Trump signed legislation on Aug. 2 that imposes sanctions on Russia, Iran, and North Korea after both houses of Congress passed the bill in nearly unanimous votes a week earlier. The measure is much improved over its original version but is still flawed because it encroaches on the executive branch's ability to negotiate, he said at a White House signing ceremony.
"We have made progress and improved the language to give the Treasury Department greater flexibility in granting routine licenses to American businesses, people, and companies," the president said. "The improved language also reflects feedback from our European allies—who have been steadfast partners on Russia sanctions—regarding the energy sanctions provided for in the legislation."
The new language also ensures that US agencies can delay sanctions on the intelligence and defense sectors, because those sanctions could negatively affect US companies and those of its allies, he added.
But the bill remains seriously flawed because it encroaches on the executive branch's ability to negotiate, Trump said. "By limiting the executive's flexibility, this bill makes it harder for the United States to strike good deals for the American people, and will drive China, Russia, and North Korea much closer together," he warned. "The framers of our constitution put foreign affairs in the hands of the president. This bill will prove the wisdom of that choice.
"Yet despite its problems, I am signing this bill for the sake of national unity," he continued. "It represents the will of the American people to see Russia take steps to improve relations with the United States. We hope there will be cooperation between our two countries on major global issues so that these sanctions will no longer be necessary." The bill also sends a clear message to Iran and North Korea that the US will not tolerate "their dangerous and destabilizing behavior," Trump noted.
He said earlier that he supports "making clear that America will not tolerate interference in our democratic process and that we will side with our allies and friends against Russian subversion and destabilization."
"The legislation, if enacted, is a big political win for members of Congress who want to take a strong stance on Russia," Elizabeth Rosenberg, a senior fellow and director of the energy, economics and security program at the Center for a New American Security, said Sunday. "It will rearrange the way the global energy industry does business with Russia and significantly increase the risk around dealings with Russia."
Для меня создание технологий добычи на шельфе — больший приоритет, чем исключительно наращивание объемов добычи, которое мы можем получить в ближайшие годы. Потому что технологии необходимы для решения стратегических задач.
Proposed new US sanctions on Russia approved by the Senate could have “unintended consequences”, hitting US jobs and oil and gas projects around the world, the industry has warned.
"Russia is among the leading energy countries today. We see colossal unrealized potential for cooperation, for investment -- we will continue working on implementing it with all the interested parties," Novak said.
Exxon Mobil Corp. and other energy companies have joined President Donald Trump in expressing concerns over a bill to toughen sanctions on Russia, arguing that it could shut down oil and gas projects around the world that involve Russian partners.
«Топливно-энергетический комплекс (для нас это важный сектор) демонстрировал уверенный рост и даже рекорды: во-первых, по добыче и экспорту нефти, причём за счёт месторождений, для которых были приняты специальные режимы; во-вторых, по добыче угля; в-третьих, по экспорту газа. В-четвёртых, очень хорошие показатели были достигнуты по генерации электроэнергии атомными электростанциями», - отметил Председатель Правительства РФ.
Министр также рассказал о влиянии санкций на реализацию проектов в Арктике. «Ни один российский проект не остановился. Наша промышленность от санкций только выиграла, Например, сегодня «Газпром» уже использует в арктической зоне 100% оборудования российского производства. Что касается того импорта, который пока остался, то мы переориентировались на наших восточных партнеров», - сказал Александр Новак.
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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.