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EU΄s Oettinger: Nuclear Power Part of Bloc Future Energy Mix

Πεμ, 30 Μαΐου 2013 - 19:47

European Commissioner for Energy, Gunther Oettinger, Thursday said the European Union's goals to reduce carbon dioxide emissions and combat climate change can only be reached with an energy mix including nuclear power. "Without a doubt nuclear energy belongs to the [mix]," Mr. Oettinger said. "In coming years reaching [climate] goals can't be done without nuclear power."

MOL Completes First Phase of Romanian Fuel Terminal

Πεμ, 30 Μαΐου 2013 - 19:45

Hungary-based oil and gas firm MOL Nyrt. (MOL.BU) has completed the first phase of a new fuel terminal next to the River Danube in Giurgiu, southern Romania, the company said in a statement Thursday. MOL is investing 10 million euros ($13 million) in the project, which will have a total storage capacity of 7,000 cubic meters when it is completed. MOL didn't say when that would be

Iraq Oil Minister: Deal To Sell Egypt 4 Million Barrels a Month Pending Payment Procedures

Πεμ, 30 Μαΐου 2013 - 19:44

An agreement to sell Egypt 4 million barrels a month of Iraqi crude oil is on hold pending payment procedures, the Iraqi oil minister said Thursday

Syria Oil Output Dives To 5% Of Pre-war Level

Τετ, 29 Μαΐου 2013 - 19:22

Syria's oil production has crashed to 20,000 barrels a day, or 5% of its pre-war output, Oil Minister Sleiman Abbas said, quoted on Wednesday in the ruling party's Al-Baath daily. "The terrorism of armed groups (rebels) and the unjust (Western) embargo imposed on Syria" were to blame for the collapse, he told a session of parliament

Saudi Oil Minister: OPEC to Discuss Secretary-General Selection Criteria

Τετ, 29 Μαΐου 2013 - 19:18

Saudi oil minister Ali al-Naimi said oil prices are at a suitable level for oil producers and consumers, the Saudi Press Agency reported Wednesday. "The situation in the international oil market at present is characterized by stability and balance of supply, demand and commercial inventories," Mr. Naimi said. Oil "prices are at the level suitable for producing and consuming nations and the petroleum industry."

E.ON Romania Threatens To Pull Green Energy Projects if Subsidies Are Cut

Τετ, 29 Μαΐου 2013 - 19:13

The chief executive of E.ON Romania, the local unit of German utility E.ON AG (EOAN.XE), Wednesday said the company will abandon its green energy projects unless the government reconsiders its plan to reduce subsidies, news agency Mediafax reports. "It all depends on whether the law on supporting renewable energy is changed. If the law is modified, then we give up [our projects]," Frank Hajdinjak told a news conference

IENE Convenes Working Group Meeting in Sofia on Nuclear Energy

Τετ, 29 Μαΐου 2013 - 18:39

An IENE Working Group, consisting of experts from Bulgaria and Greece, met today (May 29) in Sofia, to examine the role of nuclear energy for power generation in SE Europe. A review was conducted of the latest developments in nuclear related projects and initiatives focusing on Bulgaria, Romania and Turkey. In spite of the setback on their nuclear plans suffered by certain European countries, following the Fukushima disaster in March 2011, enthusiasm for nuclear electricity has not waned in the SE European region

EU Authorities Signal Decision to Proceed With Planned Tariffs Against China Solar-Panel Makers

Τρι, 28 Μαΐου 2013 - 19:36

European Union trade authorities Monday signaled they would push ahead with a plan to impose import tariffs on solar panel equipment made in China, despite heavy lobbying from Beijing that appeared to be weakening support for the duties among EU member governments

EU's Almunia: Oil Price Manipulation Would Have Caused ΄Huge Damages΄

Τρι, 28 Μαΐου 2013 - 19:32

Any confirmed manipulation of oil prices would have caused "huge" damages for consumers and the case has similarities to the Libor benchmark scandal, the European Union's top antitrust regulator said Tuesday. EU antitrust authorities carried out unannounced inspections of energy companies BP PLC (BP), Royal Dutch Shell PLC (RDSA) and Statoil ASA (STO) this month as part of a probe into whether they manipulated prices in the $2.5 trillion physical-oil market by giving false data to an oil index publisher, the Platts unit of McGraw Hill Financial Inc. The offices of Platts were also inspected

Eni Reaches Deal With Sonatrach on Gas Contracts

Τρι, 28 Μαΐου 2013 - 19:27

Italy's leading energy company by market value, Eni (E), and Algerian state-owned energy group Sonatrach have reached a deal on the revision of some conditions of their gas supply contracts for 2013 and 2014, Eni said Tuesday. Under the agreement, "Eni and Sonatrach will reduce certain quantities of the contractual gas volumes delivered into Italy," Eni said in a statement, without providing additional details

GDF Suez Buys Stake in Nabucco West Pipeline Consortium

Τρι, 28 Μαΐου 2013 - 19:22

The French utility GDF Suez S.A. (GSZ.FR) has bought around 9% in the proposed gas pipeline project Nabucco West from Austrian oil and gas company OMV AG (OMV.VI), OMV said Tuesday. With the purchase, GDF Suez replaces German utility company RWE AG (RWE.XE), which sold its 17% share in the pipeline to OMV--one of the main shareholders of the proposed pipeline--in April for an undisclosed sum

Russia's Sintez Not To Bid For Greece's DEPA, May Bid For DESFA

Δευ, 27 Μαΐου 2013 - 19:12

Russia's Sintez Group will not bid for Greek gas company DEPA, but may bid for its gas-network operator, DESFA, Sintez said Monday. Sintez was one of two Russian companies, alongside state gas giant OAO Gazprom (GAZP.RS) that showed initial interest in DEPA. But Sintez, controlled by Russian tycoon Leonid Lebedev, said in a statement Monday it is only considering a bid for DESFA

Iran To Host 'International' Conference On Ally Syria

Δευ, 27 Μαΐου 2013 - 19:05

Iran will host on Wednesday an international forum to help find a "political solution" for the conflict in ally Syria, the foreign ministry said, as France, the U.S. and Russia push for their own peace conference. "More than 40 countries and a representative of former U.N. Secretary General Kofi Annan are expected to attend," deputy foreign minister, Hossein Amir Abdollahian, on Monday told Al-Alam Arabic-language television