English Edition

BP Fourth-Quarter Profit Drops as Disposals Hurt Oil Output

Τρι, 4 Φεβρουαρίου 2014 - 19:30

BP Plc (BP/), Europe’s second-largest oil company, said fourth-quarter profit fell from a year earlier as output declined and refining margins weakened. Profit adjusted for one-time items and inventory changes dropped to $2.8 billion from $3.9 billion a year earlier, the London-based company said in a statement

Making the European Energy System Greener and More Competitive

Δευ, 3 Φεβρουαρίου 2014 - 18:27

CO2 emissions should be cut and the amount of renewable energy boosted to make our energy system more competitive and greener, but by how much? The European Commission proposes to cut emissions by 40% compared to the level in 1990 and increase the share for renewable energy to 27% by 2030, however many MEPs have criticised the plans, which will be voted on during next week's plenary.

Bulgaria: Second Progress Report on Renewable Energy Development

Δευ, 3 Φεβρουαρίου 2014 - 17:40

The Bulgarian Energy Ministry presented to the European Commission its Second Progress Report on renewable energy development and use as of December 2013.

Iran’s Central Bank to Allocate $10b to Oil Projects

Δευ, 3 Φεβρουαρίου 2014 - 13:42

The Iranian parliament (Majlis) has allowed the country’s central bank to allocate $10 billion of its assets overseas to fund domestic oil projects, IRNA reported.

Romanian Energy Holding Oltenia to Borrow 200 mln euro from EBRD for Upgrades

Δευ, 3 Φεβρουαρίου 2014 - 13:37

Romanian energy holding Oltenia has signed an agreement to borrow around 200 million euro ($270.9 million) from the European Bank of Reconstruction and Development (EBRD), the Romanian economy ministry said.

Turkey Signs MOU with French Utility GDF Suez For Two Major Energy Investments

Παρ, 31 Ιανουαρίου 2014 - 14:00

French utility GDF Suez has signed a Memorandum of Understandinghas signed a Memorandum of Understanding with the Turkish government for two major energy investments in the country.

Romania's OMV Petrom Q4 Hydrocarbon Output Slips 1.1% y/y

Παρ, 31 Ιανουαρίου 2014 - 13:46

The hydrocarbon production of Romania's top oil and gas group, OMV Petrom [BSE:SNP], fell 1.1% on the year to 181,000 barrels of oil equivalent per day (boe/d) in the fourth quarter of 2013, its majority owner, Austria’s OMV, said on Thursday.

Putin Says Ukraine’s Gas Bill Overdue

Παρ, 31 Ιανουαρίου 2014 - 13:45

The Russian economy and gas monopoly Gazprom will take a hit if Ukraine, which is facing growing unrest, fails to pay its already reduced gas bill, Russian President Vladimir Putin said on 28 January.

Greece to Present Latest Oil, Gas Seismic Data to Investors in Feb

Πεμ, 30 Ιανουαρίου 2014 - 18:09

Greece will make available to international investors in February the results of recent seismic tests on oil and natural gas in its western and southern waters, Reuters reported, quoting the country’s energy ministry.

Turkey, Romania Among World's Most Attractive Emerging PV Markets

Πεμ, 30 Ιανουαρίου 2014 - 13:41

Turkey ranked as the world's third most attractive emerging photovoltaic (PV) market, followed by Romania, market researcher IHS said on Wednesday.

Big Oil Companies Struggle to Justify Soaring Project Costs

Τετ, 29 Ιανουαρίου 2014 - 18:10

Chevron Corp., Exxon Mobil Corp. and Royal Dutch Shell PLC spent more than $120 billion in 2013 to boost their oil and gas output--about the same cost in today's dollars as putting a man on the moon.

Shell Sells Stake in Brazilian Project for $1 Billion

Τετ, 29 Ιανουαρίου 2014 - 18:10

Royal Dutch Shell PLC said Wednesday it is selling its 23% interest in the Parque das Conchas project offshore Brazil to Qatar Petroleum International for $1 billion.

Gazprom Exec Says Company Undervalued, Hints At Buyback

Τετ, 29 Ιανουαρίου 2014 - 18:09

Russian gas monopoly OAO Gazprom (GAZP.RS) is undervalued and now may be a perfect time for a share buyback, Alexander Medvedev, deputy chair of the company's management committee said in an interview to state television channel Rossiya 24, Interfax news agency reported Wednesday.