EIA expects Brent crude oil prices will average close to $48/ barrel (b) in the fourth quarter of 2016 and in the first quarter of 2017. Forecast Brent prices average $43/b in 2016 and $51/b in 2017. West Texas Intermediate (WTI) crude oil prices are forecast to average about $1/b less than Brent prices in 2017. The values of futures and options contracts indicate significant uncertainty in the price outlook, with NYMEX contract values for February 2017 delivery traded during the five-day period ending November 3 suggesting that a range from $35/b to $66/b encompasses the market expectation of WTI prices in February 2017 at the 95% confidence level.

Средняя цена нефти марки Urals по итогам января-октября 2016 года составила $ 40,72 за баррель.

The IMF Executive Board will meet on Friday, November 11 to discuss Egypt’s request for financial assistance under an Extended Fund Facility (EFF) for the amount of $12 billion.

The World Bank welcomes Egypt’s recent economic and social reform measures including the floatation of the currency, measures to boost investment especially in Upper Egypt, adjusting energy prices to reflect market conditions, and strengthening the social safety net.

Libya, a member of the Organization of Petroleum Exporting Countries, is struggling to boost crude production and exports since the NOC reached an agreement in September with Khalifa Haftar, the commander of forces controlling important oil ports. As a result of the deal, the country was able to ship 781,000 barrels from the port of Ras Lanuf on Sept. 21, the first international cargo from that terminal since force majeure was declared in December 2014.

The North Sea oil and gas industry currently faces fierce global competition to attract investment, with the combined challenges of a low oil price, a maturing industry and uncertainty for the sector. Oil & Gas UK’s recently published Economic Report 2016 found that investment in the UK continental shelf has fallen to around £9 billion this year, from a record £14.8 billion in 2014, illustrating the difficulty for investors in accessing finance for asset development.

Pertamina’s income surged from USD 914 million to USD 2.83 billion, thanks in part to efficiency gains that resulted in a USD 834-million reduction in operational costs.

Gazprom’s supplies to the German market continued to grow, rising 23 per cent this September and 20.4 per cent this October versus the corresponding months of 2015.

Министр энергетики Российской Федерации Александр Новак принял участие в 21-й регулярной встрече глав правительств России и Китая, которую провели Председатель Правительства Российской Федерации Дмитрий Медведев и Премьер Государственного совета КНР Ли Кэцян.

Rosneft and Beijing Gas Group Company Limited (hereinafter, "Beijing Gas") signed a Purchase and Sale Agreement and a Shareholder and Operating Agreement for the sale of a 20% stake in Verkhnechonskneftegaz (a Rosneft subsidiary) to the Chinese company, an Agreement on the Area of Mutual Interest in respect of the adjoining license areas and an Agreement on the cooperation in the gas business. The transaction execution agreement was signed in the presence of the Prime Minister of the Russian Government Dmitry Medvedev and Premier of the State Council of the People's Republic of China Li Keqiang by Rosneft Chief Executive Officer Igor Sechin and Beijing Gas Group Chairwoman of the Management Board Li Yalan.