Russia: Gazprom, Pacific Rubiales ink LNG deal

Rusal Completes US$7.6-Million Modernization Project at Irkutsk Aluminium Smelter

2017/09/13 Russian Federation aluminium titan UC Rusal announced yesterday the completion of a US$7.6 million project to modify its Befesa-2 line at Irkutsk Aluminium Smelter (IrkAZ) in eastern Siberia. The just-completed modifications were carried out by Rusal’s Engineering and Technology Center in conjunction with Spain’s Befesa Aluminio S.L. and included the addition of a new casting wheel, a metal distribution system, a newly-designed ingot mold, improvements to the water cooling system, and a new ingot extraction and transportation unit. The firm says it plans to make similar improvements to the adjacent Befesa-1 line.

UNWTO: International tourism – strongest half-year results since 2010

2017/09/09 Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010. Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.

Russia's Rosneft inks oil production & supply deal with China

2017/09/07 Russian oil major Rosneft has announced a strategic cooperation agreement and long-term oil supply arrangement with CEFC China Energy Company. The transaction was sealed on the sidelines of the BRICS Summit in Xiamen, China. According to Rosneft, the agreement would see the development of exploration and production projects in Western and Eastern Siberia. The two companies as well agreed to cooperate in refining, petrochemicals and crude trading.

BRICS countries considering own cryptocurrency as settlement mechanism

2017/09/07 The BRICS Finance Committee is discussing a joint virtual currency for the five country bloc of developing economies, according to the Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev. During the BRICS Summit in Xiamen, Dmitriev told journalists that Brazil, Russia, India, China and South Africa could develop its own alternative to other payment tools. "While there is a focus on settlements in national currencies, cryptocurrencies are as well being discussed as one of the possible settlement mechanisms," Dmitriev explained.