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COVID-19 - News digest as of 28.10.2021

October 28/2021

1. SCGP announced its Q3 earnings

MOSCOW (MRC) -- Thai producer SCG Packaging�s (SCGP) third-quarter earnings slumped from the previous quarter due to various forms of lockdowns re-imposed in major southeast Asian countries following spikes in COVID-19 cases, said the company. On a year-on-year basis, however, earnings in July to September posted strong gains on the back of mergers & partnerships (M&P) and organic expansion, which are expected to continue into next year. "Looking forward into the rest of 2021 and through to early 2022, major ASEAN economies are heading toward the recovery from the easing of strict lockdown measures,� SCGP said in the notes accompanying its financial results.

2. Russia expects OPEC+ to raise its output in November

MOSCOW (MRC) -- Russia expects OPEC+ to raise its output by 400,000 barrels per day (bpd) at the Nov. 4 meeting, as previously agreed, Deputy Prime Minister Alexander Novak told Reuters. Novak also said he expects oil demand to reach a pre-pandemic level by the end of next year but said it was difficult to predict if oil prices will hit record highs as gas prices have done. "Demand (for oil) can decline as there is still uncertainty. We also see there is yet another pandemic wave spreading across the world," Novak said.
Author:Margaret Volkova
Tags:Asia, crude and gaz condensate, petrochemistry, SCG Chemicals, COVID-19, Russia.
Category:General News
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