Russia and Saudi Arabia are leading a deal between OPEC and non-OPEC producers to cut global oil production. with the aim of propping up oil prices.

According to Interfax'.s calculations. based on Gazprom’s data. the amount of the loss was $157.8 million.

The massive size of the agreements is a very important data point for western oil and gas firms. which have been jockeying for a position in Iran’s high-potential petroleum sector.

Iraq has to pay 850 million dollars to Iran for exports of electricity.

For Petrobras. the achievement of partnerships is an important strategy of the 2017-2021 Business and Management Plan.

The other oil majors. by and large. also appear able to cover their capex and dividends with their cash flow. or at least are coming pretty close.

The country hopes to double the number of tourists by 2020 from the 8 million expected this year.

Oil giant Rosneft has also planned to venture into LNG. and signed in May 2014 a preliminary deal with ExxonMobil to cooperate on the Far East LNG project.

The project. which has a minimum life expectancy of 50 years. has already had one of its EIA reports while other studies on its environmental and safety impacts still continue.

The oil and gas report revealed that the challenges facing the industry remained the same year-on-year.