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Iran Says Russian Nuclear Proposal Has Good Elements

Iran Says Russian Nuclear Proposal Has Good Elements

Iranian Foreign Minister Ali Akbar Salehi said Wednesday that Russia's new nuclear proposal aimed at reviving stalled negotiations with Western powers had good elements that deserved further study.

Gazprom Could Lose $3B From Belarus Gas Discount

Gazprom Could Lose $3B From Belarus Gas Discount

Russian gas producer OAO Gazprom (GAZP.RS) could lose between $2.5 billion and $3 billion in revenue next year from discounts to neighboring Belarus, newspaper Vedomosti reports.

CEZ Attributes Profit Fall To Taxes, Power Prices, Unrepeated Gains

CEZ Attributes Profit Fall To Taxes, Power Prices, Unrepeated Gains

Czech state-owned power company CEZ AS (BAACEZ.PR) Tuesday said its 40% annual decline in second-quarter net profit was due to lower power prices than a year earlier, new taxes and foreign-exchange losses, as well as gains in 2010 that didn't recur this year.

China Says It Will Sue US Oil Giant For Spill

China Says It Will Sue US Oil Giant For Spill

China's maritime authority said Tuesday it will sue the American company behind a massive oil spill off its northeast coast for "damage to the environment."

Shell: Gannet Alpha Pipe Leaked In Two Places, From Same Source

Shell: Gannet Alpha Pipe Leaked In Two Places, From Same Source

Two leaks have occurred on an undersea pipeline at Royal Dutch Shell PLC's (RDSA) Gannet Alpha platform in recent days, the Anglo-Dutch major confirmed Tuesday, but said it believed both come from the same initial source.

Iraq Oil Ministry: Shell, Iraq Gas JV To Produce 2 BCF/Day

Iraq Oil Ministry: Shell, Iraq Gas JV To Produce 2 BCF/Day

Iraq's gas deal with Royal Dutch Shell PLC (RDSA) to capture and exploit associated gas from its giant southern oil fields is expected to produce two billion cubic feet a day, according to an official agreement summary obtained by Dow Jones Newswires Tuesday.

Iran Welcomes Russian Nuclear Proposal

Iran Welcomes Russian Nuclear Proposal

Iran welcomes Russia's latest proposals for restarting talks on Tehran's controversial atomic program, top nuclear negotiator Saeed Jalili said Tuesday after two rounds of talks with Moscow's National Security Council secretary Nikolai Patrushev.

China Speeds Up Reserves Construction

China Speeds Up Reserves Construction

China is accelerating the construction of eight crude oil reserve sites in the second-phase of its strategic plan, the official China Securities Journal reported.

Japan Official Suggests A Micro Nuclear Plan

Japan Official Suggests A Micro Nuclear Plan

The Japanese minister in charge of national strategy said a new generation of smaller nuclear reactors might be the answer for a country traumatized by the March Fukushima Daiichi crisis, at a time when much of the nation is looking toward a nuclear-free future.

Japan July Power Output Down 8.6% On Year -Utility Federation

Japan July Power Output Down 8.6% On Year -Utility Federation

Electricity generated by Japan's 10 regional power utilities fell 8.6% on year in July to 82.95 billion kilowatt-hours as, as the country's industries and households cut power consumption to avoid blackouts amid continued suspension of nuclear power plants across the nation, the Federation of Electric Power Companies said Friday.

Chinas Annual Oil Consumption Growth To Slow To 5%

China's Annual Oil Consumption Growth To Slow To 5%

Growth in China's apparent oil consumption is expected to ease to an average 5% a year between 2011 and 2015, down from the 7.7% annual growth in the previous five years, the state-controlled China Daily reported Friday.

Romanian Transgaz 1H Net Profit Falls 3.8% To RON255M

Romanian Transgaz 1H Net Profit Falls 3.8% To RON255M

Romanian state-run natural gas pipeline operator Transgaz Medias (TGN.RO) Friday said its net profit fell 3.8% on the year to 255.2 million lei ($84.5 million) in the first half, due to higher costs, news agency Mediafax reports.

Saudis May React Fast To Oil Price Fall-Bernstein

Saudis May React Fast To Oil Price Fall-Bernstein

The world's largest oil exporter Saudi Arabia has reacted rapidly to previous falls in the oil price and demand by cutting production and would do so again, says Bernstein Research.

Ex-Libya Oil Minister Ghanem Shouldnt Have Post In New Govt-Rebels

Ex-Libya Oil Minister Ghanem Shouldn't Have Post In New Govt-Rebels

The former chairman of Libya's National Oil Company and de-facto oil minister, Shokri Ghanem, should not have a post in any new regime that could emerge if Col. Moammar Gadhafi is defeated, said a spokesman for the Libyan rebels Friday.