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BP May Lose U.S. Oil Leases, Contracts as Gulf Spill Punishment

BP May Lose U.S. Oil Leases, Contracts as Gulf Spill Punishment

BP Plc may lose control of its U.S. oil and natural gas wells and be barred from doing business with the federal government as punishment for the worst oil spill in U.S. history, industry and regulatory analysts said.

Gazprom, DESFA sign pipeline deal

Gazprom, DESFA sign pipeline deal

Plans to build the South Stream natural gas pipeline project moved forward yesterday with the signing of a deal in Moscow for the Greek leg of the energy project. Russian gas giant Gazprom and Greece's grid operator DESFA signed a deal to build the Greek section of the Russian-led gas pipeline, the companies said in a joint statement

No Russian Missile Sale To Iran - French Official

No Russian Missile Sale To Iran - French Official

Russian Prime Minister Vladimir Putin told President Nicolas Sarkozy on Friday that Moscow will not sell air defense missiles to Iran in line with U.N. sanctions, a French official said.

Bulgarian Government At Odds Over Pipeline, Nuclear - Report

Bulgarian Government At Odds Over Pipeline, Nuclear - Report

The Bulgarian prime minister Friday announced the country is to withdraw from the proposed Burgas-Alexandroupolis oil pipeline project and freeze construction of its second nuclear power plant at Belene, but the country's energy minister issued an immediate denial, Sofia News Agency reports on its website.

Putin Visits France To Talk Warships, Energy

Putin Visits France To Talk Warships, Energy

Russian Prime Minister Vladimir Putin on Friday kicked off a visit to France expected to focus on a sensitive contract for warships and energy ties between the two powers.

Northern Sea Route to Open for Russian Oil Tankers in Fall

Northern Sea Route to Open for Russian Oil Tankers in Fall

Russian oil tankers will make their maiden voyage from the Russian port in the White Sea to South-East Asia via the Northern Sea Route this fall, a deputy Russian transport minister said on Friday.

Bulgaria Walks out of Burgas-Alexandroupolis Pipeline

Bulgaria Walks out of Burgas-Alexandroupolis Pipeline

Bulgaria's prime minister has surprisingly announced that it will dump the Burgas-Alexandroupolis oil pipeline project over fears that it is unprofitable and damaging for the country. The statement comes a day after Russia warned that it may indefinitely delay construction of the oil pipeline across Bulgaria and Greece if Sofia does not complete its revision of the plan in the next few months

US Military Sees No Sign Of Iranian Incursion In Iraqi North

US Military Sees No Sign Of Iranian Incursion In Iraqi North

The U.S. military said Thursday it had no evidence to substantiate a report that Iranian troops have been building a small fort on Iraqi territory since crossing the border in pursuit of Kurdish rebels.

BP: Will Be Able To Collect Extra 10,000 Bbl/Day Within Week

BP: Will Be Able To Collect Extra 10,000 Bbl/Day Within Week

BP PLC (BP) should be able to capture up to 10,000 barrels a day more of the oil leaking into the Gulf of Mexico within a week with the deployment of a second system attached to the well head, Senior Vice President Kent Wells said Thursday.

Libya, Greece Sign Strategic Cooperation Accord

Libya, Greece Sign Strategic Cooperation Accord

Libya and Greece have signed an accord that paves the way for "strategic cooperation" between the two countries during the Greek premier's visit to the oil-rich country, Libyan media reported Thursday.