English Edition

Posco Backs Deal for $1.1 Billion Stake in Arcelor

Τετ, 2 Ιανουαρίου 2013 - 18:22

A consortium that includes South Korea's biggest steel maker is buying a $1.1 billion stake in Montreal's ArcelorMittal Mines Canada Inc., the latest sign of international enthusiasm for Canada's resource sector. A person familiar with the deal said South Korea's POSCO is "one of the more important players" in the consortium, which also includes Taiwan's China Steel Corp. The consortium is taking a 15% stake in ArcelorMittal Mines -- the second time in as many years that POSCO has bought into a Canadian mining firm

Oil Futures Jump as US House Approves Fiscal Cliff Bill

Τετ, 2 Ιανουαρίου 2013 - 18:20

Crude-oil futures soared in Asia on the first trading day of 2013, with the U.S. benchmark rising by over $1 after the U.S. House approved a bill to address the fiscal cliff-a bevy of tax increases and government spending cuts slated to begin in January. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at $92.82 a barrel at 0627 GMT, up $1.00 in the Globex electronic session. February Brent crude on London's ICE Futures exchange rose $0.88 to $111.99 a barrel

Russia's 2012 Oil Output Hits Post-Soviet High

Τετ, 2 Ιανουαρίου 2013 - 18:13

World energy power Russia said on Wednesday that its 2012 oil output hit a post-Soviet record high level while natural gas production declined amid stalling European sales. The mixed figures--highlighted by a dip in oil exports outside ex-Soviet territories--point to lingering problems in a sector that accounted for 49% of all budget revenues in 2011

Vitol Set for UK Tax Showdown

Δευ, 31 Δεκεμβρίου 2012 - 14:11

Swiss-based Vitol, a leading oil trader, is set to have negotiations with the U.K. taxman after HM Revenue & Customs issued a demand for back taxes over an offshore pay scheme that let its top staff avoid millions of pounds in tax, the Sunday Times reports.

Colombia Reaches Daily Oil Output Goal of 1 Million Barrels

Δευ, 31 Δεκεμβρίου 2012 - 14:11

Colombia has reached its longtime goal of producing one million barrels a day of crude oil, President Juan Manuel Santos said Sunday, as the oil sector continues to expand amid record-setting investment from foreign companies.

OPEC to See $1 Trillion Net Oil Revenue for 2012

Δευ, 31 Δεκεμβρίου 2012 - 14:11

The Organization of the Petroleum Exporting Countries will reap more than $1 trillion in net oil revenue for 2012, the Financial Times reports Sunday.

Saudi Says Crude Output Increases Elsewhere May Weigh on 2013 Income

Δευ, 31 Δεκεμβρίου 2012 - 14:10

Crude production increases by several producing nations may put downward pressure on global oil prices next year, which could hurt the fiscal surplus of top oil exporter Saudi Arabia, the kingdom's Finance Minister Ibrahim al-Assaf said Sunday.

Iberdrola Sells French Renewable Energy Assets To GE, Others

Δευ, 31 Δεκεμβρίου 2012 - 14:10

Spanish power utility Iberdrola SA (IBE.MC) said Monday it has agreed to sell its French renewable energy unit for up to 400 million euros ($528.7 million), to a group of investors led by General Electric Co (GE).

EU's Oettinger: Germany to Have Nuclear Energy for 40 Years More

Δευ, 31 Δεκεμβρίου 2012 - 14:10

Nuclear energy will belong to everyday life in Germany for at least 40 years more, European Union energy commissioner, Guenther Oettinger, a German national, says in the Rheinische Post Monday.

PPC to Get 170 Mil. Euros from the Government

Παρ, 28 Δεκεμβρίου 2012 - 12:54

The Greek energy market is about to get a monetary lift, as the government plans to pay back 170 mil. euros of its debt to PPC. The decision was made after the minister of Finance and the Energy minister met and concluded that the payments should begin as soon as possible.

Natural-Gas Stockpile to Show Drop of 74 Bcf in Week

Παρ, 28 Δεκεμβρίου 2012 - 12:41

Analysts and traders expect government data scheduled for release Friday to show a smaller-than-normal drop in natural-gas inventories last week due to unusually warm weather.

Chevron Makes 2 Natural Gas Discoveries Offshore Australia

Παρ, 28 Δεκεμβρίου 2012 - 12:41

Chevron Corp. (CVX) has made two separate natural gas discoveries in remote waters offshore Australia, indicating the resource for its Gorgon and Wheatstone gas-export projects could be larger than it originally anticipated.

Gazprom To Extend Memorandum Of Cooperation With Novatek On LNG Until February 2013

Παρ, 28 Δεκεμβρίου 2012 - 12:40

Russia's natural gas monopoly Gazprom (GAZP.RS) said late Thursday that it intends to extend a memorandum of cooperation with Novatek (NVTK.RS), the country's largest independent natural gas producer, until Feb. 1, 2013.

Lebanon’s First Exploration Round Next May

Παρ, 28 Δεκεμβρίου 2012 - 10:00

Lebanon will launch its first oil and gas exploration licensing round on 2 May, according to a decision reached today by the council of ministers.

Privatization of Gas Firms Set to Fetch Around 1 bln Euros

Παρ, 28 Δεκεμβρίου 2012 - 09:46

The privatization project concerning Greece’s Public Gas Corporation (DEPA) and DESFA, the country’s gas network operator, has drawn major interest and is likely to fetch around 1 billion euros, or even more, judging by the nonbinding offers submitted to the state privatizations fund (TAIPED).

Petroceltic Planning to Explore for Oil in Greece

Πεμ, 27 Δεκεμβρίου 2012 - 14:51

Petroceltic International Plc, an oil and gas company with operations in Egypt and Eastern Europe, plans to explore for oil in Greece. The company has made an application in the country for onshore and offshore blocks with Hellenic Petroleum SA (ELPE) and Edison SpA, Brian O’Cathain, chief executive officer of Petroceltic, said in a telephone interview from Dublin.