English Edition

NIOC Matches Saudi Oil Price Hikes for Asia, Europe

Τρι, 10 Ιουλίου 2012 - 18:34

National Iranian Oil Co. has pegged oil prices for its crude at higher levels for most customers in August, matching a similar move by Saudi Arabia earlier in the month, despite tightening sanctions against the Islamic Republic's crude exports.

Saudi Keeps Aug Term Crude Volumes To Europe Unchanged

Τρι, 10 Ιουλίου 2012 - 18:34

Saudi Arabian Oil Co., or Saudi Aramco, has offered its European term lifters their full quota of supply in August, unchanged from July, buyers of Saudi crude in Europe told Dow Jones Newswires Tuesday.

BP Shelves Arctic Offshore Project in Alaska

Τρι, 10 Ιουλίου 2012 - 18:33

BP PLC (BP) is shelving its Liberty offshore drilling project in Alaska, after deciding that the current development plan is not up to the stricter standards the company enacted after the Deepwater Horizon incident.

Court Hearing on DEPA/DESFA Privatization Cancelled Due to the Non-Appearance of FUND ENERGY

Τρι, 10 Ιουλίου 2012 - 16:28

The Russian group Fund Energy sought an injunction from Greek Courts regarding the tender procedure for the privatization of the DEPA Group. The hearing before the Athens Court of First Instance was scheduled for today.

Iran to Sell Oil to Europe via Private Consortium

Τρι, 10 Ιουλίου 2012 - 13:46

Iran has reached agreements with European refiners to sell some of its oil through a private consortium, the Indian Express reported, citing an official, APA reports quoting Mehr agency.

Beijing Threatens EU With Trade Action

Δευ, 9 Ιουλίου 2012 - 17:44

Chinese officials warned their European Union trade counterparts at a meeting in late June that they would investigate subsidies given to European agriculture, automotive, renewable energy and telecoms companies if the EU proceeded with an investigation of wireless-network vendors Huawei Technologies Co. and ZTE Corp. (0763.HK), the Financial Times reported on its website Sunday, citing unnamed sources.

China Investing $20 Billion To Develop Two Iran Oil Fields: Qasemi

Δευ, 9 Ιουλίου 2012 - 17:43

Iran's Oil Minister Rostam Qasemi said China has agreed to invest $20 billion in developing two oil fields which will eventually produce 700,000 barrels per day of crude oil, Iran's Press TV reported Sunday on its website.

Egypt To Press Ahead With Nuclear Power Plans

Δευ, 9 Ιουλίου 2012 - 17:43

Egypt's ministry of electricity says it wants to push ahead with the construction of the country's first nuclear power station, reviving plans drawn up under former president Hosni Mubarak.

Saudi Acwa Acquires 42% Interest in Bulgarian PV Solar Plant

Δευ, 9 Ιουλίου 2012 - 17:42

Acwa Power, a Saudi Arabia-based power and water plant developer, said Monday it has entered a consortium to acquire a solar photovoltaic, or PV, plant in Karadzhalovo, southern Bulgaria, in which it will hold a 42% controlling interest.

Iraq Says Kurdish Oil Exports to Turkey Are Illegal

Δευ, 9 Ιουλίου 2012 - 17:42

Iraq's government Monday said crude-oil exports from the semi-autonomous northern region of Kurdistan to neighboring Turkey are "illegal" and threatened to take "appropriate action," in a continuation of recent of tensions between the two.

Oil, Gas Prices To Rise If Norway Oil Output Stops

Δευ, 9 Ιουλίου 2012 - 17:42

The price of oil and gas from Norway is on the brink of a sharp increase unless the Norwegian government steps in to prevent a costly shutdown of all production in Western Europe's largest oil exporter, European traders and analysts said Monday.

Oil Terminals in East Libya Forced Shut

Παρ, 6 Ιουλίου 2012 - 18:32

Two oil terminals in east Libya were forced to halt production Thursday by federalism backers, local sources said.

Brent May Average $125/Bbl In 2013 -Barclays

Παρ, 6 Ιουλίου 2012 - 18:32

The average Brent crude price in 2013 will likely be $125/bbl, while Nymex crude may average $115/bbl, after factoring in market balances and a "faster pace of international geopolitics in 2013 and greater market attention to the geopolitical background" compared with 2012, Barclays says.