English Edition

Cost Of Insuring BP Debt Rockets 75% On Top Kill Failure

Cost Of Insuring BP Debt Rockets 75% On Top Kill Failure

The cost of insuring debt issued by BP PLC (BP.LN) hit a record high Tuesday, shooting up 75% on the news that the oil company has failed in its efforts to plug a leaking oil well in the Gulf of Mexico.

Iraqi May Crude Exports +8% On Month At 1.9M B/D - SOMO

Iraqi May Crude Exports +8% On Month At 1.9M B/D - SOMO

Iraq exported 1.9 million barrels a day of crude oil in May, up 8% on the 1.76 million barrels a day exported in April, the head of the State Oil Marketing Organization said Tuesday.

Obama To Remark On Oil Spill As Investors Cut BPs Market Value

Obama To Remark On Oil Spill As Investors Cut BP's Market Value

President Barack Obama on Tuesday will deliver remarks on the catastrophic Gulf oil spill as frustration builds about the government's response and investors shave billions off BP PLC's (BP, BP.LN) market value in response to a once-promising attempt to plug the leak that failed over the holiday weekend.

Austria’s OMV talks Turkey

Austria’s OMV talks Turkey

Austrian integrated oil firm OMV aims to cut costs and restructure operations, while putting Turkey at the core of its three-pronged growth plan.

PPC to Invest 1.8 bln euros and Hire Workers

PPC to Invest 1.8 bln euros and Hire Workers

Public Power Corporation (PPC) is planning to make investments of 1.8 billion euros in western Macedonia by 2015 and hire 1,600 employees by the year's end, the listed power company's chairman and chief executive officer, Arthouros Zervos, announced yesterday.

Turkmenistan Begins Work On East-West Gas Pipeline

Turkmenistan Begins Work On East-West Gas Pipeline

Turkmenistan started work on a $2 billion gas pipeline Monday as the resource-rich but isolated Central Asian nation seeks to diversify its energy customers away from Russia.

China To Cut Fuel Prices; May Help Inflation

China To Cut Fuel Prices; May Help Inflation

China will lower domestic fuel prices in a move that will pass on the steep fall in crude prices to the pockets of Chinese consumers and assist the central government in keeping inflation in check, a key government agency said.

Japan Urges Iran To Halt Uranium Enrichment: Reports

Japan Urges Iran To Halt Uranium Enrichment: Reports

Japan urged Iran on Monday to halt its controversial uranium enrichment program, hinting Tokyo might support additional international sanctions against the country, media reports said.

China and Japan Plan Gas Field Talks

China and Japan Plan Gas Field Talks

China and Japan today agreed on steps to ease military tension between the Asian neighbours and resuumed talks on jointly exploring disputed gas fields in seas bewteen them.

Petrobras for Turkey Chapter and Black Sea Programme

Petrobras for Turkey Chapter and Black Sea Programme

Petrobras, Brazil's state-controlled oil firm, and state-owned Turkish Petroleum Corp. (TPAO) signed a memorandum of understanding Thursday to expand research into deep-water exploration in Turkey's sector of the Black Sea.