The agreements, signed in the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Putin span various vital sectors, including trade and investment, sustainability and environment, with the clear idea of developing further strategic partnerships.

The Abu Dhabi National Oil Company,ADNOC, signed today a comprehensive strategic framework agreement with the Public Joint Stock Company Gazprom Neft,Gazprom Neft, to explore new opportunities for collaboration in both the upstream and downstream sectors, as well as in artificial intelligence and other innovative technologies.

The Abu Dhabi Government and the Abu Dhabi National Oil Company, ADNOC, have awarded to a subsidiary of the Russian listed PJSC Lukoil Oil Company, LUKOIL, a five percent stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma and other offshore sour gas fields in the Emirate of Abu Dhabi. At the same time, ADNOC, LUKOIL, and the Management Company of Russian Direct Investment Fund, RDIF, signed a framework agreement to explore potential future cooperation in relation to the Ghasha concession.

Crude oil production from the major US onshore regions is forecast to increase 58,000 b/d month-over-month in October from 8,913 to 8,971 thousand barrels/day, gas production to increase 319 million cubic feet/day from 83,693 to 84,012 million cubic feet/day .

South Korea's crude oil imports from the US in September more than doubled from a year earlier, while intakes of Saudi crude dropped 17.6% year on year due to the September 14 attacks on Saudi's major oil facilities,

Russian President Vladimir Putin said Sunday that Russia will work with Saudi Arabia and other Arab nations to counter recent instability in the oil markets caused by attacks on energy sites in the Middle East.

"UAE-Russia relations are historic and based on ties of friendship, cooperation and respect for common interests. These relations are now further developing across all levels, a reflection of the leaderships keenness to enhance continuous cooperation,"

Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, said that the value of non-oil trade between the UAE and Russia over the past five years amounted to US$14.1 billion, while last year’s non-oil trade totalled $3.4 billion, compared to $2.5 billion in 2017, a growth of 36 percent.

UAE is the leading Arab investor in the US, while noting that the value of the non-oil trade doubled over the past decade, reaching some AED90 billion (US$24.5 billion) in 2018, and explaining that the UAE trades with almost all US states, especially Washington, California, Texas, Florida and New York.

Acquisition of ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon for US$1.39 billion plus a $75 million contingent payment subject to FID on Barossa