REUTERS - Malaysia’s state-owned oil and gas company Petroliam Nasional Bhd [PETR.UL] said on Thursday it is buying a 25 percent stake in a Canadian liquefied natural gas (LNG) export project, nearly a year after cancelling its own planned terminal.

REUTERS - The global oil industry should ramp up investment to ensure it can cope with future consumption growth and avoid supply shortages, OPEC Secretary-General Mohammad Barkindo told a conference in Baku.

EIA - Financial Review of the Global Oil and Natural Gas Industry: 2017 - Brent crude oil daily average prices were $54.75 per barrel in 2017—21% higher than 2016 levels - Excluding proved reserve acquisitions, upstream costs incurred increased from 2016 levels but remained lower than 2008–15 levels - Proved reserves additions in 2017 approached the highest levels in the 2008–17 period - Finding plus lifting costs fell to $29 dollars per barrel of oil equivalent in 2017, the lowest level in the 2008–17 period - The energy companies reduced debt in 2017, the first year in the 2008–17 period - Refiners with global refining assets reduced distillation capacity for the eighth consecutive year

IMF - We expect growth to stay strong this year and next—at 3.9 percent. This is being driven by stronger investment and a rebound in trade. Once again, the momentum is broad-based, encompassing the United States, Europe, Japan, China, Russia, and many other emerging market and developing countries.

IMF - China’s economic growth accelerated in 2017 and is expected to weaken only slightly in 2018 to 6.6 percent and moderate gradually to about 5½ percent by 2023.

IMF - The fiscal stance is also supportive with the primary deficit projected to widen from 1.7 to 2.4 percent of GDP in 2018, as implied by the budget. GDP growth is projected to accelerate from 1 percent in 2017 to about 2 percent in 2018, driven by private consumption and investment.

LUKOIL - Profit attributable to PJSC "LUKOIL" shareholders was RUB 109.1 bln, up 75.0% year-on-year. Profit growth was mainly driven by significant negative non-cash foreign exchange effect in the first quarter of 2017. Excluding this factor, profit attributable to PJSC "LUKOIL" shareholders increased by 13.5%.

МИНФИН РОССИИ - Сейчас мы, к сожалению, видим обратные процессы – когда процесс введения ограничений, санкций сначала для одной, для другой страны, потом захватывает все больший и больший периметр, захватывает мировые экономики. Теперь мы видим, что санкции могут распространяться и на союзников.

Российская Федерация, несмотря на все ограничения, которые сейчас вводятся, принимает меры по реагированию. Эти санкции способствовали даже более активному проведению реформ в России. Здесь и свободное курсообразование, и более жесткая бюджетная политика, целый ряд структурных реформ как метод реагирования на санкции.

FT - Most oil majors can now cover dividends and capital expenditure at prices around $50 per barrel, meaning that, at $80, they make a healthy surplus.

REUTERS - Retail sales, the key gauge for consumer demand, the primary driver of economic growth, were up 2.4 percent year-on-year in April after a 2.0 percent rise in the year to March. Capital investment, the next most important driver, was up 3.6 percent year-on-year in the first quarter after increasing 1.4 percent in the same period a year earlier.

BLOOMBERG - Natural gas will probably emerge as the main fossil fuel “winner” as it balances renewables in power generation and is used as a substitute for oil in petrochemicals. Long-term gas demand is set to increase by 15 percent, or by 750 billion cubic meters, compared to business as usual,

BLOOMBERG - The fund shocked markets around the world in November when it asked for permission to divest oil and gas companies to reduce financial risk, arguing Norway as a whole is already heavily exposed to oil as western Europe’s biggest petroleum producer. At the time of the proposal, the fund held about $40 billion of shares in oil giants such as Exxon Mobil Corp. and Royal Dutch Shell Plc.

IMF - “Egypt’s growth has continued to accelerate during 2017/18, rising to 5.2 percent in the first half of the year from 4.2 percent in 2016/17. The current account deficit has also declined sharply, reflecting the recovery in tourism and strong growth in remittances, while improved investor confidence has continued to support portfolio inflows. In addition, gross international reserves rose to $44 billion by end-April, equal to 7 months of imports.

IMF - the region remains the main engine of global growth, accounting for more than 60 per cent of the global growth. Regional output is projected to grow by 5.6 per cent in 2018 and 2019; 5.6 per cent is about 0.1 percentage point higher than we expected in last October, supported by trade as well as accommodative global financial conditions.