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$100 OIL:OPEC Secy Genl Sees 08 Challenge;Blames Speculators

VIENNA (Dow Jones)--Ahead of oil prices hitting $100 a barrel Wednesday, OPEC's top executive predicted a respite from erratic oil price swings this year and expressed continued frustration at a market influenced as much by speculative trading as supply management.

Iranian Supreme Leader: No Benefit In Resuming US Ties

TEHRAN (AFP)--Supreme leader Ayatollah Ali Khamenei Thursday said that Iran has "no benefit" in resuming ties with the U.S. at the current time, state television reported.

Iran Supreme Leader: Country Will Keep Enriching Uranium

TEHRAN (AFP)--Iranian Supreme leader Ayatollah Ali Khamenei Thursday vowed the country wouldn't give up uranium enrichment, saying Iran should seek to have nuclear plants generating 20,000 megawatts of energy in 20 years.

Syria, Turkey To Set Up Oil Exploration, Devt JV

BEIRUT (Zawya Dow Jones)--State-owned Syrian Petroleum Co and Turkish Petroleum Co have agreed to set up an oil exploration and development joint-venture to operate in both countries, the official Syrian Arab News Agency SANA reported Thursday citing the Syrian Minister of Petroleum and Mineral Resources Soufian Allao.

EU: Sustained High Oil Price Level Will Impact EU Economy

BRUSSELS (Dow Jones)--Sustained high oil prices of around $100 a barrel will take a toll on the European economy in 2008, the European Commission's spokeswoman for economic and monetary affairs said Thursday.

IEA:$100 Oil Big Reminder For Consumers To Boost Efficiencies

LONDON (Dow Jones)--The International Energy Agency said Thursday that $100-a-barrel oil provides a big reminder for consuming nations to improve efficient use of energy resources and to step up investments in new oil supplies and alternative energy resources.

Greek GDP growth seen at 4 pct in 08

Greece yesterday unveiled an updated EU stability and growth plan for 2007-2010, projecting economic growth at 4.0 percent next year, and envisaging the elimination of public deficits by the end of the period through a 2.3 percent increase in revenues and a 0.3 percent fall in expenses.

Turk energy hikes worry

Turkey’s central bank said yesterday planned hikes in electricity and natural gas prices led the bank to take a cautious stance on monetary policy.

GdF To Raise Tariffs For Businesses By 10%

PARIS (Dow Jones)--The French government will allow French gas giant Gaz de France (1020848.FR) to raise regulated gas tariffs for French business customers by 10% starting Jan. 1, 2008, the French financial daily Les Echos reports in its Friday edition without citing sources

Italy's Eni Raises Its U.S. Profile

Italian oil titan Eni SpA, which has benefited from its ability to invest and expand in countries off-limits to American rivals, this year sharply raised its exposure on the home turf of Chevron Corp. and Exxon Mobil Corp.

EdF Exits Mexico Through $1.4 Billion Asset Sale

PARIS (Dow Jones)--French state-controlled electricity group Electricite de France (1024251.FR), or EdF, Friday said it has finalized its exit from Mexico through the sale of its assets to Spanish group Gas Natural SDG SA (GAS.MC) for $1.4 billion.

StatoilHydro Launches Pazflor Development In Angola

StatoilHydro said Friday that Pazflor, the third hub in Angola block 17 is ready for development. After Girassol and Dalia and the subsea tie-back Rosa, the launch of Pazflor represents a major new stage in the development of Block 17. StatoilHydro has a 23.33% interest in the block.

Russia Denies Plans To Deliver S-300 Missiles To Iran