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IEA Director: Oil Market Can Cope With Any Lost Iran Exports

IEA Director: Oil Market Can Cope With Any Lost Iran Exports

Oil markets could cope with any loss of Iranian oil exports tied to sanctions, including an abrupt cut to the European Union, a top official with the International Energy Agency said Monday.

Russia, Japan To Study Joint LNG Plant Investment

Russia, Japan To Study Joint LNG Plant Investment

A Japanese consortium led by Itochu Corp. (8001.TO) and Russian state gas giant OAO Gazprom (GAZP.RS) have begun an investment study about constructing a liquefied natural gas plant in Russia's Far East, Gazprom said Monday.

Iran Boosts Nuclear Site Defenses, Warns EU On Oil

Iran Boosts Nuclear Site Defenses, Warns EU On Oil

Iran deployed warplanes and missiles Monday in an "exercise" to protect nuclear sites and warned it could cut oil exports to more European Union nations unless sanctions were lifted.

Do Not Humiliate the Greeks

Do Not Humiliate the Greeks

Last Sunday, as the Greek Parliament adopted the latest reforms and austerity measures, hooded arsonists rampaged through central Athens and riot squads hosed protesters with tear gas.

ITGI Out of Running for Shah Deniz

ITGI Out of Running for Shah Deniz

The BP-led consortium developing the Shah Deniz gas field offshore Azerbaijan has eliminated the Interconnector Turkey-Greece-Italy (ITGI) pipeline option.

Turkey has Started Pumping Natural Gas to Greece Again

Turkey has Started Pumping Natural Gas to Greece Again

Turkey restarted natural gas transfers to Greece over the weekend after Greek Energy Minister George Papaconstantinou called to request supplies reports Hurriyet Daily News.

Nabucco: Consortium Proposing Significantly Smaller Pipeline

Nabucco: Consortium Proposing Significantly Smaller Pipeline

The Nabucco consortium has proposed a much smaller project than the originally planned pipeline to carry Caspian natural gas to Europe, bowing to the reality of low gas amounts available at the moment in the region and little interest by investors, people familiar with the discussion told Dow Jones Newswires.

Statoil, ExxonMobil Encounter Hydrocarbons Offshore Tanzania

Statoil, ExxonMobil Encounter Hydrocarbons Offshore Tanzania

Norwegian oil company Statoil ASA (STO) and partner ExxonMobil Corp. (XOM) Friday confirmed that the Zafarani-1 well in Block 2 offshore Tanzania has encountered indications of natural gas in a good quality reservoir.

Petroplus German Retail Operations Back To Normal

Petroplus German Retail Operations Back To Normal

The administrator of the German subsidiaries of Petroplus Holdings AG (PPHN.EB) said Friday that retail operations have been stabilized, and said that the company is supplying around 40,000 customers in the state of Bavaria.