English Edition

TPAO Plans More Black Sea Wells

Τετ, 20 Ιουλίου 2011 - 16:47

Turkey's state-owned exploration company TPAO plans to drill four to five extra-deep exploration wells over the next one and a half years in the Black Sea, costing a total of about $1 billion.

Total Gets Russian Arctic Gas Go-Ahead

Τετ, 20 Ιουλίου 2011 - 16:46

French supermajor Total has been given the all-clear to press ahead with a share of a huge Arctic LNG project in Russia, a report claims.

Biofuels Can Represent an Environmentally-Friendly Replacement of Fossil Fuels

Τετ, 20 Ιουλίου 2011 - 13:39

Biofuels can represent an environmentally-friendly replacement of fossil fuels. However, we need to make sure that tropical forests and carbon rich peatlands are not turned into oil palm or sugarcane plantations. We also have to guarantee that compared to fossil fuels biofuels used in the EU deliver tangible greenhouse gas savings. To this end, the sustainability of biofuels needs to be checked by Member States or through voluntary schemes which have been approved by the European Commission.

Bulgaria Plans to Call Further Tenders for Exploration of Shale Gas

Τετ, 20 Ιουλίου 2011 - 13:38

Bulgaria plans to call further tenders for exploration of shale gas in the country, Economy Minister Traicho Traikov said on July 19 on the sidelines of a forum on alternative gas extraction. "There wil be tenders for exploration of new fields in northern Bulgaria," Traikov said

Azerbaijan Questions Turkey’s Nabucco Moves

Τετ, 20 Ιουλίου 2011 - 13:37

Azerbaijan has questioned Turkey’s attitude on the Nabucco pipeline project after Baku failed to receive a copy of the signed contract from Ankara, according to a top official from the Caspian nation.

EU Commits To New Rules On Nuclear Waste Disposal, Storage

Τρι, 19 Ιουλίου 2011 - 16:53

European governments gave their final green light Tuesday to plans aimed at increasing the safety of nuclear waste in the European Union, putting an end to years-long negotiations.

Medvedev, Merkel Meet For Energy, Rights Talks

Τρι, 19 Ιουλίου 2011 - 16:53

Russian President Dmitry Medvedev and German Chancellor Angela Merkel said Tuesday they were prepared to have frank talks about differences on reforms even as they deepen trade ties.

Europe Takes Neutral Stance As IEA Mulls 2nd Oil Stock Release

Τρι, 19 Ιουλίου 2011 - 16:52

European governments are adopting a neutral stance to the possibility of a second release of oil from emergency stocks by the International Energy Agency to counter the disruption in Libyan exports, according to officials from member countries.

Europe Oil Majors 2Q Flat On Libya, Maintenance

Τρι, 19 Ιουλίου 2011 - 16:52

Second-quarter earnings at Europe's integrated oil and natural gas majors are expected to be roughly flat on the year despite higher crude prices. The stoppage of Libyan oil because of the civil war, outages due to maintenance and depressed gas prices dented profits.

Iran Warns It May Interrupt India Oil Supply

Τρι, 19 Ιουλίου 2011 - 16:51

Iran has sent a fresh warning that it may stop oil exports to India from Aug. 1 if $5 billion arrears aren't paid, as a dispute tied to international sanctions appears close to escalation.

Iraq Picks Leighton To Build Basra Oil Terminal -

Τρι, 19 Ιουλίου 2011 - 16:51

Iraq's South Oil Company, the largest government utility by crude oil production, has picked Leighton Offshore Private Ltd.--part of Leighton International (LEI.AU), to build a loading terminal at the southern port of Basra, with a value of a little more than $500 million, an Iraqi oil industry source familiar with the project said Tuesday.