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TNK-BP Minorities Say Failed Rosneft Deal Caused RUB87B Loss

TNK-BP Minorities Say Failed Rosneft Deal Caused RUB87B Loss

A group of minority shareholders in BP PLC's (BP) Russian joint venture TNK-BP said Wednesday they assess damages for a missed opportunity to replace the U.K. oil major in an Arctic exploration deal with state oil producer OAO Rosneft (ROSN.RS) at 87 billion rubles ($2.96 billion).

Tepco Logs Record $7.4B 1Q Net Loss On Disaster Costs

Tepco Logs Record $7.4B 1Q Net Loss On Disaster Costs

Tokyo Electric Power Co. (9501.TO) said Tuesday it logged a massive $7.4 billion net loss for the three months through June, with its red ink snowballing on higher fuel and compensation costs as it continues to grapple with the Fukushima Daiichi nuclear disaster.

Sinohydro Likely To Win $1.2B Hydropower Project In Costa Rica

Sinohydro Likely To Win $1.2B Hydropower Project In Costa Rica

Sinohydro Group Ltd., which built China's Three Gorges Dam, is close to winning a $1.2 billion project to build a 300-megawatt hydroelectric power plant in Costa Rica, the country's ambassador said Tuesday.

Fukushima Evacuation Order To Be Lifted In Some Areas

Fukushima Evacuation Order To Be Lifted In Some Areas

In a preliminary step toward rebuilding the area around the stricken Fukushima Daiichi plant, an evacuation designation will be lifted for some places next month for the first time since the crisis began in March.

BP Files Suit Against TNK-BP Partner

BP Files Suit Against TNK-BP Partner

Oil giant BP has filed a suit with a Stockholm tribunal against Renova, one of its partners in its TNK-BP Russian joint venture, over Renova's unwillingness to allow it to team up with local giant Rosneft, Kommersant business daily said on Tuesday.

GE Plays a Major Role in the Expansion of Romania’s Wind Power Sector

GE Plays a Major Role in the Expansion of Romania’s Wind Power Sector

A 300-megawatt (MW) grid-connection agreement between Romania’s grid operator Transelectrica, and a joint venture between GE (NYSE: GE) and German wind farm developer Prowind GmbH, will play a major role in the expansion of Romania’s wind power sector. It will pave the way for Prowind, a renewable energy provider, to build four wind farms in northeastern Romania.

Statoil Makes Major Oil Discovery In The North Sea

Statoil Makes Major Oil Discovery In The North Sea

Norwegian oil and gas company Statoil ASA (STO) Monday said it has made a significant oil discovery in the North Sea with Norwegian state-owned Petoro AS, Det Norske Oljeselskap ASA (DETNOR.OS) and Lundin Norway AS, the Norwegian arm of Sweden's Lundin Petroleum (LUPE.SK).

Frances GDF-Suez Close To Deal With China Investment Corp

France's GDF-Suez Close To Deal With China Investment Corp

French energy group GDF Suez SA is close to signing a deal with China Investment Corp. allowing China's sovereign wealth fund to take a minority stake in the energy giant's exploration and production business, as part of a wider alliance to boost the company's exposure to the energy-hungry Asian market.

Libya Rebels Face Offensive By Gadhafi Forces

Libya Rebels Face Offensive By Gadhafi Forces

Rebels defended their positions Monday in key western towns in the face of an offensive by Libyan leader Moammar Gadhafi's troops, holding on to strategic Bir Ghanam but suffering casualties in Zliten.

International Power, GDF SUEZ: New Wind Energy Projects In Canada

International Power, GDF SUEZ: New Wind Energy Projects In Canada

GDF SUEZ and International Power PLC (IPR.LN), 70% owned by GDF SUEZ, Monday announced further progress in developing wind energy in Canada with new Power Purchase Agreements, or PPAs, secured for two 99MW wind farms in Ontario and the start of construction of Cape Scott 1, a 99MW wind development in British Columbia.

BP Buys Into Namibian Oil Exploration Project

BP Buys Into Namibian Oil Exploration Project

BP PLC (BP.LN) will invest around $50 million in a project to explore for oil and gas off the coast of Namibia, the U.K. major's latest frontier foray as it implements its new strategy of increasingly seeking out untapped resource opportunities.