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Construction of South Stream Gas Pipeline in Bulgaria Seen Starting in June

Construction of South Stream Gas Pipeline in Bulgaria Seen Starting in June

Construction works on the Bulgarian section of South Stream gas pipeline are expected to start in June, three months after a contractor is named, the CEO of the Dutch-based South Stream Transport B.V. said, as quoted by the Sofia News Agency (Novinite.com).

Vattenfall Begins Consultations on New Nuclear Reactor

Vattenfall Begins Consultations on New Nuclear Reactor

Swedish state-owned utility Vattenfall AB said Thursday it will begin consultations with authorities and residents about the potential construction of new nuclear reactors at the Ringhals power plant on the southwest coast of Sweden.

Price of OPEC Oil Falls For First Time Since 2010

Price of OPEC Oil Falls For First Time Since 2010

The price that some of world's biggest oil producers charge for their oil fell last year for the first time since 2010, the Organization of the Petroleum Exporting Countries said Thursday.

Genel Energy 2013 Production 44,000 bopd; Revenue $350M

Genel Energy 2013 Production 44,000 bopd; Revenue $350M

Genel Energy PLC (GENL.LN), the oil explorer led by former BP PLC Chief Executive Tony Hayward, Wednesday reported 2013 net working interest production of 44,000 barrels of oil per day, in line with 2012, and forecast 2014 daily production of 60-70,000 barrels.

Novatek, Gazprom Neft Buy Enis Stake in SeverEnergia

Novatek, Gazprom Neft Buy Eni's Stake in SeverEnergia

Russian energy firms OAO Novatek (NVTK.RS) and OAO Gazprom Neft (SIBN.RS) have increased their stake in SeverEnergia by buying out Eni S.p.A.'s (E) share in the oil and gas producer, the companies said in press releases Wednesday.

EU Still Preparing Formal Complaint in Gazprom Antitrust Case

EU Still Preparing Formal Complaint in Gazprom Antitrust Case

The European Union is still drafting a formal antitrust complaint against Gazprom OAO (GAZP.RS), despite settlement talks with the Russian energy company, the EU's antitrust chief Joaquin Almunia said Wednesday.

Brussels Probes South Stream Tender Procedures in Bulgaria

Brussels Probes South Stream Tender Procedures in Bulgaria

The European Commission is checking if the tender procedures for the construction of the Bulgarian section of the South Stream gas pipeline are compliant with EU law, the Commission’s spokesperson Chantal Hughes said, as quoted by the Bulgarian National Radio.

EDF, GDF Suez to Invest EUR600M in Belgium Nuclear Reactor

EDF, GDF Suez to Invest EUR600M in Belgium Nuclear Reactor

French power utilities Electricite de France SA (EDF.FR) and GDF Suez SA (GSZ.FR) will invest 600 million euros ($822 million) to extend the life of a nuclear reactor they jointly own in Belgium to 2025, Les Echos newspaper reports, citing unidentified sources.

Italys Eni Scales Back Push on Polish Shale Gas

Italy's Eni Scales Back Push on Polish Shale Gas

Italy's oil producer Eni SpA (E) has reduced its presence in Poland, letting two of its three shale gas exploration licenses expire, Poland's environment ministry said Tuesday.

Russia to Finance Hungary Nuclear Expansion

Russia to Finance Hungary Nuclear Expansion

Russia will provide financing for the expansion of Hungary's only nuclear power plant under a deal signed Tuesday, Janos Lazar, head of the prime minister's office, said.