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Committed To Russia Despite Plan To Sell TNK-BP Stake

Τετ, 13 Ιουνίου 2012 - 18:26

BP plans to remain in Russia despite earlier this month announcing it intends to sell its half of the TNK-BP joint venture, Chief Executive Bob Dudley said Wednesday. "We remain committed to Russia," said Dudley. "We have other businesses in Russia beside TNK-BP."

IEA Warns On Iran Supply Risk To Global Oil Market

Τετ, 13 Ιουνίου 2012 - 17:28

The global oil market is looking "better supplied" than earlier this year mostly due to a ramp up in OPEC production, but the impact of sanctions and a European Union embargo on Iranian oil output raise the risk of a tighter market from the summer onwards, the International Energy Agency said Wednesday. The IEA's warning comes as ministers from the Organization of the Petroleum Exporting Countries meet this week to discuss their output amid worries from some of the group's members that falling oil prices and rising oil inventories are indicating an oversupplied market

EU Conditionally Approves French State Aid on Electricity Tariffs

Τρι, 12 Ιουνίου 2012 - 17:51

The European Union's antitrust body said Tuesday it approved the state-aid component of France's regulated electricity tariffs for large and medium-sized customers, subject to some conditions.

Areva Finds 20,000 Tons Of Uranium In Jordan

Τρι, 12 Ιουνίου 2012 - 17:51

French nuclear giant Areva S.A. (AREVA.FR) said Tuesday it has discovered more than 20,000 tons of uranium in Jordan, which is trying to develop atomic energy to meet its growing needs.

Greece Unblocks Funds to Help Ease Energy Crisis- Court Official

Τρι, 12 Ιουνίου 2012 - 14:16

Greek court officials plan to release 40 million euros ($50 million) in emergency funds to provide liquidity to the country's cash-strapped energy system and help avert a looming power crisis, a court official said on Tuesday.

Russia To Cut by 11.1% Natgas Prices for Bulgaria after Resolving South Stream Pipeline Issues

Τρι, 12 Ιουνίου 2012 - 14:15

Russia will lower the price of natural gas for Bulgaria by 11.1% when the shareholders in the South Stream pipeline project - Russia's Gazprom and Bulgarian state-owned Bulgartransgaz - resolve the outstanding issues, Bulgaria's economy minister said.

Turkey to Buy Oil from Libya After Reducing Iranian Imports

Τρι, 12 Ιουνίου 2012 - 14:14

Turkey has struck a one-million-ton oil supply deal with Libya after reducing imports of Iranian crude under pressure from the United States and international community, the Turkish energy minister said Tuesday.

Saudi-Iran Rivalry To Return To Foreground At OPEC Meeting

Δευ, 11 Ιουνίου 2012 - 17:05

When OPEC meets next week in Vienna, Iran and others are expected to press Saudi Arabia to scale back its record output--or else face the risk of a new oil-price collapse.

China May Natural Gas Output 8.33 Bln Cubic Meters, up 5% on Year

Δευ, 11 Ιουνίου 2012 - 17:05

China produced 8.33 cubic meters of natural gas in May, up 5% from a year earlier, data from the National Bureau of Statistics showed Monday.

Iraq Producing 3 Mln B/D, Eyeing 2.9 Mln B/D Exports

Δευ, 11 Ιουνίου 2012 - 17:05

Iraq is producing 3 million barrels of oil a day, and is targeting to raise its daily crude oil exports to 2.9 million barrels from 2.4 million barrels at present, the country's oil minister said Monday.

TEPCO to Buy 1 Million Tons LNG a Year From Qatar

Δευ, 11 Ιουνίου 2012 - 17:04

Tokyo Electric Power Co. Inc. (9501.TO) said Monday that it has signed a new contract to buy one million tons of liquefied natural gas from Qatar every year.

Brazil Petrobras April Domestic Oil Output at 1.961 Mln Bbl/Day

Δευ, 11 Ιουνίου 2012 - 17:04

Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, said late Friday that domestic crude oil output slipped for a third consecutive month in April because of maintenance work at several platforms and the shutdown of the Frade field.

Greek Power Company DEH Seeks Bank Loan to Roll Over Debt

Δευ, 11 Ιουνίου 2012 - 16:35

Greece's biggest power utility PPC applied for a loan with the Loans and Consignment Fund, a state-run bank, as part of efforts to roll over its debt, two sources familiar with the deal said on Monday.