Libya’s National Oil Corporation (NOC) has agreed with the German oil firm, Wintershall, on an interim deal to resume oil production, a step forward to resolve a contract dispute that has been blocking almost 160.000 barrels per day (bpd) of oil output, according to a statement by the NOC. Source The Libya Observer
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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