An IMF staff mission traveled to the Arab country and advised the government not to increase spending on the back of the oil price hike, as well as meet fiscal targets.
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The number of launched projects has reached 2,410, according to a report by the BNC Network. From these, 1,730 are in tender or under construction.
The Brazilian state-owned company registered a net profit of BRL 6.9 billion (USD 1.97 billion) in this year’s Q1.
Four oil and gas blocks in the Campos and Santos basins will be auctioned under a production-sharing scheme. The auction is expected to take place on September 28.
ANP’s director general met with representatives of ADIA and AD Council last week, in which they showed to be interested in gas pipelines that will be privatized by the Brazilian state-owned oil company.
The Arab country’s Energy minister Khaled Al Faleh made the statement on the same day that USA president Donald Trump criticized the OPEC for driving prices up.
The announcement was made by the country’s Petroleum minister, Tarek El Molla. In Algeria, Sonatrach announced that it plans to double its output.
IMF forecasts a world growth of 3.9% in 2018 and 2019. Recovery in commodity prices will help developing countries.
Exports from Brazil reached USD 5.244 billion and imports amounted to USD 3.415 billion in the second week of April. Foreign sales of basic goods soared by 47%.
The Abu Dhabi National Oil Company (ADNOC) is offering for competitive bidding six oil and gas production and exploration concessions.
