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Kazakh PM Defends Right To Arbitrate Natural Resources Pacts

ALMATY, Kazakhstan (Dow Jones)--Kazakh Prime Minister Karim Masimov Thursday defended his government's right to intervene in natural resources contracts if investors violate their terms or try to sell their resources business

Swiss BKW Takes Stake In 2 Italian Biomass Plants

ZURICH (Dow Jones)--Swiss utility BKW FMB Energy Ltd (BKWN.EB) said Thursday it is expanding its presence in Italy by acquiring minority interests in two biomass plants in the Campania region and on the island of Sardinia

US: Iran Assessment Won't Alter Euro Missile Defense Plans

WASHINGTON (AP)--The United States says it will not alter plans to build a missile defense system in Europe despite findings by U.S. intelligence agencies that Iran does not have an active nuclear weapons program

OPEC Agrees To Hold Production Unchanged But Meet Jan

ABU DHABI (Dow Jones)--The Organization of Petroleum Exporting Countries opted Wednesday to hold current oil production steady and review market conditions in January as it surveys global economic growth and energy demand.

Gulf States Move Towards a Singe Currency

Leaders of the Gulf Cooperation Council (GCC) have decided at their annual summit to stick to a 2010 date to launch their single currency, the GCC chief told reporters yesterday.

New Assessment Of Iran Redraws Political Lines

U.S. intelligence's surprising conclusion that Iran halted its nuclear-weapons program four years ago started redrawing political lines yesterday, as Democratic presidential candidates clashed over the issue and major powers stated their aversion to coercive action against Tehran.

DJ CEZ Seeks To Buy Local Lignite Coal Mine For $1.6B

PRAGUE (Dow Jones)--Czech state-owned power utility CEZ (BAACEZ.PR) seeks to buy the largest Czech lignite coal mine for 28 billion koruna ($1.6 billion), the Mlada Fronta Dnes newspaper reported Wednesday, citing undisclosed sources.

Greece To Freeze Compensation Of Subsidies To PPC

ATHENS (Dow Jones)--The Greek government has decided not to compensate electric utility Public Power Corporation SA (PPC.AT) for state-mandated social subsidies it provides, after a recent decision to hike electricity tariffs, financial daily Imerisia reports Wednesday.

Gas Natural, Repsol, Eni, Galp In Angolan Gas Consortium

MADRID (Dow Jones)--Spain's Gas Natural SDG SA (GAS.MC) has formed a consortium with five other groups to develop a gas project in Angola.

Gaz de France Likely To Obtain 6% Tariff Hike

MOL Unveils Initiative To Set Up Joint CEE Gas Transit Co

BUDAPEST (Dow Jones)--Hungarian oil and gas company MOL Nyrt. (MOL.BU) Wednesday unveiled an initiative to set up an integrated natural gas transmission company for Central and southeastern Europe.

Romania Lawmakers OK Draft Law Annulling Petrom Sale-Mediafax

BUCHAREST (Dow Jones)--Romania's senate, the upper house of the country's parliament, tacitly cleared Monday a draft law filed by a far-right party, which annuls the sale of Romania's largest oil company Petrom (SNP.RO) to Austria's OMV AG (OMV.VI), news agency Mediafax reported Wednesday

AT A GLANCE: OPEC Delegates Lean Towards No Change In Output

Two senior OPEC delegates said they see the group holding current output policy unchanged at its last meeting of the year in Abu Dhabi Wednesday, opting instead to meet again in January to review market conditions. Any decision still needs to be ratified by the full OPEC group and is subject to change.