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Search for Oil, Natural gas to Start

Δευ, 28 Ιουνίου 2010 - 16:00

The Greek government will commission searches for oil and natural gas in central and northern Greece in the next year, according to Deputy Environment, Energy and Climate Minister Yiannis Maniatis.

Bulgarian Industry Appalled by Gas Price Hike

Δευ, 28 Ιουνίου 2010 - 13:52

The proposed hike in the price of natural gas of almost 30% will hit hard on the Bulgarian industry, writes Bulgarian daily Dnevnik.

BP Oil Spill Costs Hit $100 million/day

Δευ, 28 Ιουνίου 2010 - 13:50

BP said it had spent $300 million on its Gulf of Mexico oil spill response effort in the past three days, hitting the $100 million/day spend rate for the first time and bringing its total bill to $2.65 billion so far.

Hedegaard Throws Weight Behind EU Carbon Tax

Δευ, 28 Ιουνίου 2010 - 13:49

'Don't tax what you earn, tax what you burn'. In an interview with EurActiv, EU Climate Action Commissioner Connie Hedegaard throws her weight behind an EU carbon tax and speaks about Europe's efforts to stay ahead of the game in international climate negotiations.

Shale Gas Heats Polish Presidential Elections

Δευ, 28 Ιουνίου 2010 - 13:48

The front runner in Poland's presidential election, Bronisław Komorowski, said on 27 June that Warsaw could not sign a long-awaited gas deal with Moscow if it were to find enough shale gas in its territory.

Gazprom Neft To Explore Equatorial Guinea Shelf - Interfax

Παρ, 25 Ιουνίου 2010 - 19:35

OAO Gazprom Neft (SIBN.RS), the oil arm of Russian gas giant OAO Gazprom (GAZP.RS), and Equatorial Guinea's national oil company GEPetrol signed an agreement to work together on two deposits on the African country's sea shelf, Interfax reports Friday

Bulgarian PM Confirms Support For Belene Nuclear Plant -Report

Παρ, 25 Ιουνίου 2010 - 19:33

Bulgaria's prime minister has confirmed his support for the construction of the county's second nuclear power station at Belene, Sofia News Agency reports on its website Friday. "Belene nuclear power plant project is not frozen," Boyko Borisov is quoted as saying as he reaffirmed his stance after contradictory statements made this month

India Allows Gasoline Prices To Be Market-Driven

Παρ, 25 Ιουνίου 2010 - 19:30

India Friday said gasoline prices will be now be driven by the market, a move which will help the government cut its budget deficit by saving on subsidies, although it may stoke inflation. State-run oil marketing companies, which now sell fuel products at state-set prices, will gain, as investors showed Friday by cheering on their shares

Iraq Cuts Officials' Privileges Amid Power Crisis - Minister

Παρ, 25 Ιουνίου 2010 - 19:29

Iraqi Oil Minister Hussein al-Shahristani Friday revoked electricity privileges enjoyed by government officials as he took temporary control of the power portfolio amid public fury over rationing. Shahristani, a key ally of Prime Minister Nouri al-Maliki, said his measures would redirect much-needed supplies to a national grid that currently provides ordinary citizens with power for only one hour in every five, or less

BP Shares Get Fresh Hammering On Credit Concerns

Παρ, 25 Ιουνίου 2010 - 19:27

BP shares dropped as much as 9% in London on Friday, as an analyst suggested the company needs to sell stock to assure counter-parties that it has the financial health to withstand the growing cost of cleaning up the Gulf of Mexico oil spill. As the Macondo well continues to leak oil, Nomura analyst Alastair Syme said the company's funding could be threatened

CHINA ENERGY WATCH: State Giants Lured By Shale Gas Potential

Παρ, 25 Ιουνίου 2010 - 19:26

China is playing catch up to Asian rivals in the race to buy into North America's shale gas sector, underlining how the world's second-largest energy consumer is waking up to the potential of a technology that could unlock a massive resource at home. In a week when India's Reliance Industries Ltd. (500325.BY) placed its second big bet on shale gas--a $1.36 billion deal for a 45% stake in Pioneer Natural Resources Co.'s (PXD) Eagle Ford asset in the U.S.--China made a less high-profile move