English Edition

Iraq Says Oil Output Tops 3 Million Barrels A Day

Δευ, 5 Μαρτίου 2012 - 19:04

Iraq's oil production is now over 3 million barrels per day, the country's deputy prime minister for energy affairs said in Baghdad Monday.

Saudi Oil Exports Hike Doesn't Indicate Output Rise-Officials

Δευ, 5 Μαρτίου 2012 - 19:03

Saudi Arabia's crude oil output was 9.8 million barrels per day in February steady with January and is seen continuing at current levels despite recent efforts by some countries to switch to crude from the kingdom ahead of stifling sanctions on Iran and its exports later this year.

Glencore CEO Says He Must Convince Xstrata Shareholders

Δευ, 5 Μαρτίου 2012 - 19:03

The chief executive of commodity giant Glencore International PLC (GLEN.LN) said the share swap ratio in its proposed merger of equals with Xstrata PLC (XTA.LN) is fair, and that his job now is to convince Xstrata's shareholders why the deal makes sense at the current valuation.

Oil At $150/Bbl Seen Triggering US Recession

Δευ, 5 Μαρτίου 2012 - 19:02

Tensions in the Middle East mean the risk to the oil price is on the upside, and if US crude benchmark WTI rises as high as $150 a barrel it could push the country back into recession, says Standard Chartered.

Total Becomes Operator of Block 3 Exploration License in Yemen

Δευ, 5 Μαρτίου 2012 - 19:02

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) today announces that it has acquired from Oil Search a 40% interest in the Block 3 exploration license in Yemen, which it will operate. The license covers an area of 2,954 square kilometers in the eastern section of the Marib Basin. The acquisition is subject to the approval of Yemen's Ministry of Oil and Mineral Resources.

Democrats Press CFTC To Control Speculative Oil Trades

Δευ, 5 Μαρτίου 2012 - 19:01

Democrats are urging the Obama administration to take swift action to reduce speculative trading in the oil markets as crude prices hover around $107 a barrel and gasoline climbs to about $3.80 a gallon.

Israel-Cyprus Underwater Power Cable Takes Shape

Δευ, 5 Μαρτίου 2012 - 16:59

Israel and Cyprus began a feasibility study on Sunday for the construction of an underwater electric cable between the two countries that would ensure their energy security and offer Israel a channel to export energy to Europe.

Serbia to Intensify Cooperation with Italy in the Energy Sector

Δευ, 5 Μαρτίου 2012 - 12:51

Adviser of the Serbia's Prime Minister for Energy Petar Skundric announced during a visit to Rome that Serbia will intensify cooperation with Italy in the energy sector, especially in the field of clean energy.

Oil Trader Gunvor Buys Refinery in Belgium

Παρ, 2 Μαρτίου 2012 - 18:28

One of the world's largest oil trading companies, Gunvor Group, owned by Russian businessman Gennady Timchenko, has bought the Petroplus oil refinery in Antwerp, Gunvor said on Friday.

Eight Firms Bid for Greek Oil, Gas Surveys

Παρ, 2 Μαρτίου 2012 - 18:27

Greece has received bids from eight companies to conduct geological surveys for oil and gas as it seeks to follow up on data from years ago indicating the potential for reserves in its western seas, the energy ministry said.

Yingli CEO: China To Surpass Europe As No. 1 Solar Panel Customer

Παρ, 2 Μαρτίου 2012 - 18:25

Yingli Green Energy Holding Co.'s (YGE) plans to sell more solar panels to Chinese customers this year than to Europeans, making its home country the company's top customer, Chairman and Chief Executive Miao Liansheng said Friday.

Libya's 2012 Budget Leans Heavily On Oil Sector

Παρ, 2 Μαρτίου 2012 - 18:25

Libya's 2012 proposed budget draws heavily on oil revenues, forecast to reach about $54 billion to compensate for the loss of corporate tax revenues in last year's conflict.

Lukoil Shelves $1.8 Bln US Shale Deal

Παρ, 2 Μαρτίου 2012 - 18:24

OAO Lukoil Holdings (LKOH.RS) has suspended a plan for an $1.8 billion shale purchase in the U.S. due to slumping natural-gas prices and because the plan doesn't offer an acceptable return, Deputy Chief Executive Officer Leonid Fedun said in an interview with Bloomberg in London.