A group of U.S.-listed oil companies wrote down their proved reserves in the Canadian oilsands by nearly eight billion barrels in 2016, as energy firms continue to defer investments in major heavy oil projects. Source Financial Post
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Turkey wants Israel to use its clout to push Cyprus into allowing a pipeline to pass through its waters so the region’s natural gas can be exported to Europe. Source: Bloomberg
China is willing to strengthen cooperation with Palestine on trade, infrastructure, human resources and capacity building to improve its economic development and people’s well-being, Premier Li Keqiang said Wednesday. Source: China daily
The House Budget Committee on Wednesday approved the 2018 fiscal year budget resolution that would increase military spending, produce billions in cuts to mandatory spending and open the door for a Republican tax reform plan. It allocated $621.5 billion for defense spending. Source: The Hill