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DNO International: Kurdistan Oil Output To Rise In December

Παρ, 30 Δεκεμβρίου 2011 - 19:12

Norwegian oil company DNO International ASA said Friday it expects oil production to increase to 60,000 barrels per day in December from its Tawke oil field in the semi-autonomous region of Kurdistan, Iraq. In November, the field produced 42,798 barrels of oil per day. Production from the Tawke field fell significantly this autumn, but the company says it will increase again in December

A2A, EDF Reply To Consob Clarification Request Over Edison Deal

Παρ, 30 Δεκεμβρίου 2011 - 19:11

The EUR0.84-per-share ($1.09) price agreed to in a deal that will raise Electricite de France SA's stake in Edison SpA to 80.7% has been agreed between EDF and the Italian investors and is in line with the average stock market price over the past 12 months, the companies involved in the deal said late Thursday. In a joint filing to the Italian stock exchange, the companies said that EDF will pay some EUR700 million to increase its holding in Edison to nearly 81% from its current 50%

Turkey Approves Gas Pipeline Plan

Πεμ, 29 Δεκεμβρίου 2011 - 19:44

Russia secured approval from Turkey on Wednesday to build the South Stream gas pipeline across the Black Sea, removing the last major obstacle to proceed with a project that could increase Europe's dependence on Russian natural-gas supplies. The move heats up the battle between Russia and the European Union over competing pipelines, especially the European Union-backed Nabucco project, and increases pressure on Ukraine to give Moscow control of its pipeline system

US Warns Iran Against Closing Strait Of Hormuz

Πεμ, 29 Δεκεμβρίου 2011 - 19:42

Tensions between Iran and the U.S. rose Wednesday as the U.S. Navy warned it would prevent any attempt to close the strategic Strait of Hormuz, as Iranian officials threatened to do in response to imposing sanctions on its oil exports. A significant supply of the world's energy -- about 15 million barrels of oil per day -- passes through the strait, a narrow passage that connects the Persian Gulf to the Gulf of Oman. A disruption of that flow would send the price of oil higher in an already fragile global economy

Us Oil Inventories: Stockpiles Rise, Defying Expectations

Πεμ, 29 Δεκεμβρίου 2011 - 19:41

U.S. crude inventories rose last week while analysts expected them to fall, according to data released Thursday by the U.S. Department of Energy. Crude oil stockpiles rose 3.9 million barrels to 327.5 million barrels, compared with an average survey estimate of a drop of 2.2 million barrels. The American Petroleum Institute, an industry group, reported a 9.6 million barrel build in its weekly report released late Wednesday

Libya Says To Review Contracts With Italian Oil Major ENI

Πεμ, 29 Δεκεμβρίου 2011 - 19:40

Libya will review all its contracts with Italian oil major ENI, the top producer of crude in the North African country, a statement from the prime minister's office said Thursday. The decision to review the contracts was communicated to the Italian firm's chief executive officer Paolo Scaroni Wednesday by Prime Minister Abdel Rahim al-Kib during a meeting, the statement from Kib's office said

Criminal Charges Are Prepared in BP Spill

Πεμ, 29 Δεκεμβρίου 2011 - 19:39

U.S. prosecutors are preparing what would be the first criminal charges against BP PLC (BP) employees stemming from the 2010 Deepwater Horizon accident, which killed 11 workers and caused the worst offshore spill in U.S. history, said people familiar with the matter. Prosecutors are focused on several Houston-based engineers and at least one of their supervisors at the British oil company, though the breadth of the investigation isn't known

China Calls On Big Energy Users To Save 250 Mln Tons Of Coal By End-2015

Τετ, 28 Δεκεμβρίου 2011 - 15:38

China is calling on the nation's major energy-consuming companies to save a combined 250 million metric tons of standard coal through the end of 2015 through technology upgrades, the National Development and Reform Commission said Wednesday.

Afghanistan Signs First Major Oil Deal With China

Τετ, 28 Δεκεμβρίου 2011 - 15:37

Afghanistan on Wednesday signed an oil deal with China which could earn the war-torn country $7 billion over 25 years.

EU To Pursue Iran Sanctions Despite Threat Of Strait Closure

Τετ, 28 Δεκεμβρίου 2011 - 15:37

The European Union is pressing ahead with plans to impose new sanctions on Iran, an EU spokesman said Wednesday after Tehran threatened to close a vital oil transit channel in response to Western measures.

Italy Regulator Asks EDF, A2A For More Edison Deal Information

Τετ, 28 Δεκεμβρίου 2011 - 15:37

Italian stock market regulator Consob confirmed Wednesday it has asked local utility A2A SpA (A2A.MI) and Electricite de France SA (EDF.FR) for more information about a Tuesday agreement ending their long-running spat over control of Edison SpA (EDN.MI), adding it expects a statement in the coming days.