GOVERNMENT.NO - The Government is proposing to exclude companies classified as exploration and production companies within the energy sector from the Government Pension Fund Global to reduce the aggregate oil price risk in the Norwegian economy.
India is seeking investment from Saudi Arabia to build emergency crude reserves that will act as a buffer against volatility in oil prices and supply disruptions for the third-largest oil consumer.
Iran is to launch four new phases at South Pars, the world’s largest gas field, with a production capacity of up to 110 million cubic meters per day, the oil ministry said
Malaysia’s economy continues to perform well despite external headwinds. Growth has averaged above 5 percent over the past 5 years, leading to higher per capita income and reducing already-low poverty. Economic growth is now moderating, and is estimated at 4.7 percent in 2018, underpinned by robust domestic and external demand.
Net income in 2018 was US$ 7,173 million, equivalent to US$ 0.55 EPS, reflecting higher operating income and improved financial results, due to lower interest expenses as a result of lower indebtedness and gains due to the renegotiation of debts of the electric sector.
PETRONAS’ Profit after Tax (PAT) rose by 22 per cent in 2018, to RM55.3 billion, compared to RM45.5 billion in 2017, on the back of higher revenue and supported by net write-back of impairment on assets. These were partially offset by higher net product and production costs, depreciation and amortisation as well as tax expenses.
U.S. BLS - Total nonfarm payroll employment changed little in February (+20,000), and the unemployment rate declined to 3.8 percent, the U.S. Bureau of Labor Statistics reported. Employment in professional and business services, health care, and wholesale trade continued to trend up, while construction employment decreased.
U.S. BEA - For 2018, the goods and services deficit was $621.0 billion, up $68.8 billion from $552.3 billion in 2017. Exports were $2,500.0 billion in 2018, up $148.9 billion from 2017. Imports were $3,121.0 billion, up $217.7 billion from 2017.
IMF - Economic growth is anticipated to remain around 1.8 percent in 2019. The authorities’ Fiscal Balance Program, underpinned by the 2019-20 budget, has provided a commendable framework to arrest the decline in fiscal and external buffers since 2014.
IMF - In 2019, despite lower commodity prices and slowing external demand, Uzbekistan's GDP growth is projected to pick up from 5 percent to 5½ percent
LUKOIL - In 2018, profit attributable to shareholders amounted to RUB 619.2 bln, 47.8% higher year-on-year. The growth was constrained by higher DD&A due to the launch of new production facilities.
NOVATEK - PAO NOVATEK (“NOVATEK” and/or the “Company”) and TOTAL S.A. signed a Sales and Purchase Agreement (“Agreement”) in relation to the sale of a 10% participation interest in the Arctic LNG 2 project (the “Project”), within the binding agreement, signed at the 22nd Saint Petersburg International Economic Forum in May 2018. The transaction will be closed by the end of first quarter 2019.
2017-18 was a strong year for the Future Fund, delivering a return of 9.3% and adding over $12 billion in earnings.
U.S. BEA - Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2018, according to the "initial" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.4 percent.
RECHARGE - The EU will spend up to €10bn ($11.37bn) supporting innovative low-carbon technologies in sectors such as renewables and energy storage over the next decade, said the European Commission.