REUTERS - The outcome represents a successful compromise between de facto OPEC leader Saudi Arabia (which wanted to announce an extension throughout 2018) and non-OPEC heavyweight Russia (which wanted to avoid giving such a long commitment).

МИНЭНЕРГО РОССИИ - «Мы успешно и конструктивно провели переговоры по продлению сделки. Мы удовлетворены результатами балансировки рынка, сокращением излишков нефти и нефтепродуктов, снижением волатильности цен, а также возврату инвестиционной активности в отрасли. В тоже время мы также единодушно подтвердили то, что мы находимся лишь в середине пути, и для того, чтобы достичь окончательной цели по балансировке рынка, нам нужно продолжить совместные усилия».

PLATTS - Saudi Arabia reasserted its leadership of the oil market Thursday after brokering its desired extension of output cuts with OPEC and non-OPEC partners through to the end of 2018. The deal -- agreed after nearly nine hours of negotiations in Vienna -- kept its new ally Russia onside and prevented a sell-off that many analysts had feared.

BLOOMBERG - OPEC and its allies outside the group agreed to maintain oil production cuts until the end of 2018, extending their campaign to wrest back control of the global market from America’s shale industry.

ADNOC - The SPC approved ADNOC’s plans for capital expenditure of over AED 400 billion, over the next five years, as it embarks on its Upstream and Downstream expansion and growth projects. The SPC also approved ADNOC’s plans to explore and appraise Abu Dhabi’s unconventional gas resources, as the company seeks to enable future value creation from its untapped gas resources. And, the SPC gave the green light to ADNOC to pursue international downstream investments that will position ADNOC as a global player in the downstream market.

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

OGJ - ADNOC is increasing its total production capacity to 3.5 million b/d next year from about 3.1 million b/d at present.

OGJ - Abu Dhabi National Oil Co. (ADNOC) and China National Petroleum Corp. (CNPC) signed an agreement covering potential collaboration, including potential offshore opportunities and the sour gas development projects.

Saudi Aramco signed agreements with several oil and gas service contractors for oil and gas megaprojects designed to enhance the company’s energy sustainability, diversify the economy, expand gas production, and localize domestic content. The agreements are valued at nearly $4.5 billion in total.

По линии энергетики Министр отметил потенциал сотрудничества по вопросам совместной разработки нефтяных и газовых месторождений на территории России и Саудовской Аравии, производства нефтегазового оборудования, разработки и внедрения современных технологий в области нефтегазодобычи, а также подготовки кадров для топливно-энергетического сектора Саудовской Аравии.

Indonesia plans to increase LPG imports from Saudi Arabia and the UAE in a bid to meet rising domestic demand, Energy and Mines Ministry spokesman Dadan Kusdiana said

IMF - Saudi Arabia had made good progress in initiating its ambitious reform agenda. Fiscal consolidation efforts are beginning to bear fruit. Progress with reforms to improve the business environment are gaining momentum, and a framework to increase the transparency and accountability of government is in place. Effective prioritization, sequencing, and coordination of the reforms is essential, and they need to be well-communicated and equitable to gain social buy-in to ensure their success.

Reuters - Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals company, reported a 10.7 percent rise in third-quarter net profit on Sunday, beating analysts’ estimates.

Oil closed at its highest in more than two years in London, nearing $60 a barrel, as Saudi Crown Prince Mohammed bin Salman backed the extension of OPEC output cuts.

WNN - Asian countries continue to dominate the market for new nuclear build, according to a newly-released report from the World Nuclear Association. Of the 10 new nuclear power reactors that started up worldwide in 2016, eight were located in Asia.