Finance
2018, December, 24, 11:45:00
SAUDIS BUDGET 2019: $295 BLN
MEOG - Saudi Arabia's Council of Ministers approved its 2019 budget, the largest in the Kingdom's history. It has planned to spend $295bn in the coming year, and estimates revenue at $260bn. Deficit is therefore estimated at $35bn, down 32% from the expected deficit for 2018, $52bn. Actual deficit in 2018 sat at $36.2bn.
2018, December, 24, 11:35:00
IMF, UKRAINE ARRANGEMENT: $3.9 BLN
IMF - The Executive Board of the International Monetary Fund (IMF) today approved a 14-month Stand-By Arrangement (SBA) for Ukraine. The arrangement amounts to the equivalent of SDR 2.8 billion (about US$3.9 billion, 139 percent of quota). The Board also took note of Ukraine’s decision to cancel the arrangement under the Extended Fund Facility for Ukraine that was approved on March 11, 2015.
2018, December, 24, 11:30:00
UAE HELP PAKISTAN $3 BLN
AN - The United Arab Emirates plans to deposit $3 billion in Pakistan's central bank "in the next few days", the UAE state news agency WAM reported on Friday, while a Pakistani official said Islamabad also hopes it will allow deferred payments for oil supplies.
2018, December, 24, 11:25:00
OMV, ADNOC CONCESSION: 5%
ADNOC - The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have awarded Austria's OMV a 5 percent stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma, Nasr, Sarb and Mubarraz sour gas fields.
2018, December, 24, 11:20:00
U.S. GDP UP 3.4%
U.S. BEA - Real gross domestic product (GDP) increased at an annual rate of 3.4 percent in the third quarter of 2018, according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 4.2 percent.
2018, December, 21, 14:35:00
SAUDIS NEED $84
PLATTS - Saudi Arabia will require oil prices higher than $84/b to avoid running another deficit, analysts warned after the kingdom announced on Tuesday record government spending in its state budget for 2019.
2018, December, 21, 14:30:00
INVESTMENT FOR SAUDIS: DOUBLED
REUTERS - Foreign investment in Saudi Arabia more than doubled in 2018 to 13 billion riyals ($3.5 billion), its economy and planning minister said on Wednesday, despite a global furor following the murder of journalist Jamal Khashoggi in October.
2018, December, 21, 14:15:00
U.S. DEFICIT UP TO $124.8 BLN
U.S. BEA - The U.S. current-account deficit increased to $124.8 billion (preliminary) in the third quarter of 2018 from $101.2 billion (revised) in the second quarter of 2018, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.4 percent of current-dollar gross domestic product (GDP) in the third quarter, up from 2.0 percent in the second quarter.
2018, December, 21, 14:00:00
NOVATEK, SACE STRATEGIC COOPERATION
NOVATEK - PAO NOVATEK ("NOVATEK" and/or the "Company") and SACE (CDP Group) signed a Memorandum on Strategic Cooperation (“Memorandum”) in relation to the Company's current and future LNG projects. The parties agreed to develop long-term cooperation on the Arctic LNG 2 project and potential new LNG projects involving Italian suppliers and engineering companies.
2018, December, 21, 13:55:00
SAIPEM, RENAISSANCE IN RUSSIAN LNG
SAIPEM - Saipem, in Joint Venture with Renaissance, a Turkish oil&gas services company, has been awarded a new Onshore E&C project in the Russian Federation worth 2.2 billion Euro overall. As leader of the JV, with a shareholding of 50%, Saipem’s portion of the total amount is therefore approximately 1.1 billion Euro.
2018, December, 21, 13:45:00
U.S. THERMONUCLEAR PARTICIPATION
WNN - The USA should continue its participation in the International Thermonuclear Experimental Reactor (ITER) project and develop a national research programme towards building a compact pilot plant, according to the National Academies of Sciences, Engineering, and Medicine (NASEM).
2018, December, 17, 10:10:00
QATAR'S INVESTMENT FOR U.S.: $20 BLN
REUTERS - Qatar Petroleum (QP) is looking to invest at least $20 billion in the United States over the coming few years, its chief executive told Reuters, after the Gulf Arab state unexpectedly quit OPEC this month.
2018, December, 17, 10:05:00
U.S. INDUSTRIAL PRODUCTION UP 0.6%
U.S. FRB - U.S. industrial production rose 0.6 percent in November after moving down 0.2 percent in October; the index for October was previously reported to have edged up 0.1 percent. In November, manufacturing production was unchanged, the output of mining increased 1.7 percent, and the index for utilities gained 3.3 percent.
2018, December, 14, 09:05:00
UAE OIL INVESTMENT
PLATTS - "The UAE is investing because we feel there is a requirement for this production, but we are not going to put that production into the market unless we feel there is a need for it," Mazrouei said after last week's OPEC meeting in Vienna.
2018, December, 14, 08:50:00
EBRD DECARBONISATION STRATEGY
EBRD - the Bank will no longer finance thermal coal mining or coal-fired electricity generation. The Bank will also stop funding any upstream oil exploration, and will not finance upstream oil development projects except in rare and exceptional circumstances, where such investments reduce greenhouse gas emissions.