Saudi Arabian Oil Company (Saudi Aramco) has completed, through its subsidiary Aramco Overseas Company B.V. (AOC), the acquisition of 17% of Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately US$1.2 Billion. The completion follows receipt of all necessary regulatory consents and approvals.

I was pleased to note that IMF staff has reached agreement with the authorities on the policies to underpin a new 3-year, SDR 4 billion (about US$ 5.5 billion) arrangement under the Extended Fund Facility.

Moscow says it does not want a “gas war” with Ukraine like the one in 2009 which led to supply disruptions in many European countries before the current agreement was signed.

"I can confirm the Pioneering Spirit is currently installing the pipeline in Danish waters," the Allseas spokesman said.

The Turkish and Azeri presidents on Saturday inaugurated the Europe link of the strategic Trans-Anatolian Natural Gas Pipeline (TANAP).

The parties discussed Russian-Ukrainian cooperation in the gas sector, including the settling of mutual claims related to the execution of contracts, the terms of transiting Russian gas to Europe from 2020 onward, and the outlook for direct purchases of Russian gas for Ukrainian consumers.

Hybrid microgrids make economic and environmental sense on their own in many places. And blockchain is active in the energy world.

Last week, President Vladimir Putin said Russia wanted to resume direct gas sales to Ukraine -- and would be prepared to reduce the price Kyiv paid by 20%-25%.

In a statement, Gazprom said it had sent a letter to Naftogaz -- signed by Gazprom CEO Alexei Miller -- to "extend the existing contract or to conclude a new gas transit agreement through Ukraine for a period of one year."

If the key reforms move forward expeditiously, Ukraine's economic growth is projected at 3.6 percent in 2019, 3.7 percent in 2020, and 4.2 percent in 2021.