China's state-owned energy giant, China National Petroleum Corp replaced Total of France with an 80.1% stake in the development of the South Pars field which has the world’s biggest natural gas reserves ever found in one place.
The market continues to gingerly ignore the accelerating currency devaluation in China, where the yuan is headed for a record eight weeks of declines. Italian bond yields spike ahead of an important meeting and payrolls are on deck.
"As the world’s largest natural gas and oil producer and exporter, Russia plays an important role in setting the global geopolitical agenda... However, in another field of energy production Russia captures an even more dominant position: nuclear technology."
This week's calendar features a steady stream of potentially interesting events culminating with Fed Chair Powell's semi annual Monetary Policy Report, as well as economic updates from the US, Europe and China, and several key political events.