General Electric Co. closed its deal to combine its long-suffering energy business with Baker Hughes Inc. on Monday, creating one of the largest companies in the oil-field services industry.

Germany raised the proportion of its power produced by renewable energy to 35 percent in the first half of 2017 from 33 percent the previous year, according to the BEE renewable energy association.

Indonesia, which produces around 730,000 b/d of crude, relies on imports to meet domestic demand of 1.4 million b/d, with Nigeria accounting for 18% of oil imports.

Saudi Aramco today signed agreements with major U.S. companies which will pave way for the company to enhance its business synergy with the U.S. as well as attracting investments from its U.S. counterparts to the Kingdom.

Saudi Arabia will go into the meeting of OPEC and non-OPEC producers in Vienna on May 25 determined to maximize its oil revenue through high prices, even if it must make large production cuts in return.

Nigeria’s oil production level has recovered to 2 million bopd, Nigerian National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said late on Tuesday.

Schlumberger Announces First-Quarter 2017 Results: - Revenue of $6.9 billion decreased 3% sequentially - GAAP EPS, including Cameron integration charges of $0.05 per share, was $0.20 - EPS, excluding Cameron integration charges, was $0.25 - Cash flow from operations was $656 million - Quarterly cash dividend of $0.50 per share was approved

Specifically, a plan to boost wind and solar energy capacity in coming years was likely to bring in $13 billion in investment, Procaccini said. There also is potential for $30 billion in mining investments to help Argentina catch up to neighboring Chile, and efforts to cut labor costs will help attract investment in oil and gas.

With oil receipts dominating fiscal revenue and exports, the Nigerian economy has been hit hard by low oil prices and falling oil production. The country entered into a recession in 2016, with growth contracting by 1.5 percent. Annual inflation levels doubled to 18.6 percent, reflecting hikes in electricity and fuel tariffs, a weaker naira and accommodating monetary conditions (broad money expanding at 19 percent y-o-y). Even with a significant under-execution in capital spending, the consolidated fiscal deficit increased from 3.5 percent of GDP in 2015 to 4.7 percent of GDP in 2016, because of significant revenue shortfalls.

It was noted that Gazprom’s gas supplies to the German market had reached a record of 49.8 billion cubic meters in 2016. The upward trend in gas demand continues in early 2017. In January, gas exports grew by 23.2 per cent versus the corresponding month of 2016. Between February 1 and February 15, gas deliveries added 37 per cent compared to the same period of last year.