Global capital spending by leading exploration and production companies will total $450bn in 2017, up 3% compared to 2016 and ending two years of steep declines. “The industry has moved out of survival mode, through a phase of adaptation to lower prices and now it is beginning to think about renewed growth.” Source:FT
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Russian President Vladimir Putin approved plans to launch the country’s own cryptocurrency, Russian Minister of Communications Nikolay Nikiforov said Sunday. Source: Daily Sabah
The consortium controlled by commodities giant Glencore and Qatar’s sovereign fund announced a 7.8 billion-euro deal Monday to sell a 14-percent stake in Russian oil giant Rosneft to Chinese conglomerate CEFC. Source: Daily Sabah
Turkish Cypriot Economy and Energy Minister Sunat Atun announced the route of the new interconnected power line between Turkey and Turkish Cyprus on Oct. 16. Source: Hurriyet Daily News