QATAR'S INVESTMENT TO RUSSIA
FT - Qatar's sovereign welfare fund is planning to spend a further $2bn in Russia following a triumphant but controversial investment in state oil giant Rosneft.
Vladimir Putin, Russia's president, said on Wednesday that the Qatar Investment Authority would participate in new oil extraction projects in the country, without elaborating further. Abullah bin Mohammed Al Thani, the fund's chief executive, said it would invest a further $2bn on top of $500m of existing investments in the country. Some of the investments would be made jointly with the $10bn sovereign Russian Direct Investment Fund, its partner in a deal last summer for St. Petersburg's airport, he added.
Mr Putin hosted Mr Al-Thani in the Kremlin at an event to celebrate QIA and Glencore's deal to buy a 19.5 per cent stake in Rosneft, which concluded early this month.
Though the Russian budget received the Rbs710bn earmarked from the deal late last year, many details of the transaction remain shrouded in mystery. Last week, it emerged that the Singaporean joint vehicle used to buy the shares received a Rbs692bn bridge loan from sanctioned state bank VTB, which the lender then passed on to the holding company that manages Russia's stake in Rosneft.
The debt was then cancelled after Italian lender Intesa gave the joint venture a €5.2bn loan to buy some of the shares in early January. It remains unclear whether the loan from VTB was repaid.
Glencore chief executive Ivan Glasenberg told Mr Putin that the firm intended to work with Rosneft on supplying oil to India and China. Mr Putin told Intesa chief executive Carlo Messina that he hoped the bank would continue to do business in Russia.
According to the participants, Qatar invested €2.5bn in the deal, with Glencore paying a further €300m, and unnamed Russian banks supplying €2.2bn. Mr Putin said the consortium had already "made a lot" from the transaction, pointing to an 18 per cent rise in Rosneft's share price since the deal.
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МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 августа по 14 сентября 2018 года составила $74,45568 за баррель, или $543,5 за тонну. Согласно расчетам Минфина России экспортная пошлина на нефть в РФ с 1 октября 2018 года повысится на $7,5 и составит $137,5 за тонну.
PLATTS - Saudi production has since risen to 10.42 million b/d in August, the country reported to OPEC in the organization's most recent monthly oil market report. Saudi Arabia's crude oil stocks, which have been declining steadily over the last three years, fell to 229.41 million barrels in July, down 11.4% since May 2017, the JODI data showed.
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 79,000 b/d month-over-month in October from 7,515 to 7,594 thousand barrels/day , gas production to increase 961 million cubic feet/day from 72,127 to 73,088 million cubic feet/day .
REUTERS - Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.