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Iranian Oil Minister to Visit Turkey

Δευ, 30 Ιουλίου 2012 - 17:16

Iranian Oil Minister Rostam Qasemi will visit Turkey this week, energy ministry sources told AFP Monday, amid a Turkish cutback on its oil purchases from Iran under Western pressure.

Edison Says Net Loss Narrows; Confirms 2012 Ebitda Target

Δευ, 30 Ιουλίου 2012 - 17:15

Edison SpA (EDN.MI), a leading Italian energy company in which Electricite de France SA (EDF.FR) is the majority shareholder, Monday said its first-half net loss narrowed thanks to the positive performance in the exploration and production operations, although margins remain weak for natural gas and electricity.

Gazprom/Shtokman Deal Ended July 1 But Total Still Interested

Παρ, 27 Ιουλίου 2012 - 18:28

The Shtokman joint venture agreement between French oil company Total SA and Russian peer OAO Gazprom terminated on July 1 though Total is still interested in playing an active role in the gas project, the French company's chief financial officer Patrick de la Chevardiere said Friday in a conference call held to discuss the company's second quarter profits

For Exxon, Natural Gas Becomes A Costly Burden

Παρ, 27 Ιουλίου 2012 - 18:16

The oil and natural-gas production boom sweeping the U.S. may be good for the country's economic health, but it hasn't recently been much help to energy giant Exxon Mobil Corp. Lackluster second-quarter financial results from Exxon's U.S. oil and natural-gas production cast a shadow on the record global profit the company reported Thursday

Russian Court Rules Against BP in TNK-BP Lawsuit

Παρ, 27 Ιουλίου 2012 - 18:14

Russia's Tyumen arbitration court on Friday ordered BP PLC to pay just over 100 billion rubles ($3.1 billion) in damages to TNK-BP, a ruling that the British company called a "corporate attack." The court ruling is to take effect in 30 days unless appealed, in which case it would become effective at the end of the appeal process, BP's lawyer said

To Review Secretary General Candidates At August Panel Meeting

Πεμ, 26 Ιουλίου 2012 - 18:35

Members of the Organization of Petroleum Exporting Countries are set to meet in Vienna next month to start the process of selecting a new secretary general, OPEC delegates said Thursday. A panel, set up to recommend a preferred candidate, will meet at the end of August "to screen applications of the candidates" and to determine whether their credentials are suitable for the job, one OPEC delegate said

India-Iran Shipping JV Folds Under Sanctions Pressure

Πεμ, 26 Ιουλίου 2012 - 18:32

U.S.-led sanctions against Tehran claimed their latest casualty Thursday, with state-run companies in India and Iran deciding to scrap a 37-year-old shipping joint venture because the unrelenting pressure was making operations untenable. The sanctions denied the joint venture's ships of insurance to cover third-party claims in case of oil spills or other accidents. Also, the curbs have made it very difficult for Iranian companies to do business in U.S. dollars and euros -- the currencies of choice for charter hires

Shell Signals Interest In Russia's Shtokman Project

Πεμ, 26 Ιουλίου 2012 - 18:27

Royal Dutch Shell PLC is open to doing more liquefied natural gas projects in Russia, including joining the OAO Gazprom -led Shtokman development in the country's Arctic region, Chief Executive Peter Voser said Thursday. "We are interested in doing more gas projects in Russia," said Mr. Voser. "We are in talks with various players in the country, including Gazprom."

Bulgaria Plans Further Cuts in Solar Incentives

Πεμ, 26 Ιουλίου 2012 - 18:05

Bulgaria plans to cut guaranteed rates for electricity generated from new solar power parks by an average of 30 percent from September after halving the feed-in tariffs in late June, the energy regulator said on Thursday. The State Energy and Water Regulatory Commission will seek the reductions as a solar boom fuelled by generous guaranteed rates threatens to boost consumer prices and strain the power grid in the European Union's poorest country

AAR Would Welcome 50-50 Ownership of TNK-BP With Rosneft-Interfax

Τετ, 25 Ιουλίου 2012 - 17:27

The AAR group of Soviet-born billionaires said Wednesday they would welcome state oil company OAO Rosneft (ROSN.RS) as a partner in TNK-BP (TNBP.RS) if BP PLC (BP) decides to sell the oil giant its 50% share in Russia's No.3 crude producer, Interfax reported.

Shell Signs Upstream Deals With CNOOC, CNPC For China, Gabon Projects

Τετ, 25 Ιουλίου 2012 - 17:27

Royal Dutch Shell PLC (RDS.LN) Shell announces Wednesday that it signed two offshore oil and gas Production Sharing Contracts, or PSCs, with the China National Offshore Oil Corporation, or CNOOC, and a PSC amendment with CNPC, the China National Petroleum Corporation, for a new development phase for the Changbei gas field in China.