English Edition

Gazprom Neft To Pay No Less Than 15% Of Net Profit In Dividend

Τρι, 16 Μαρτίου 2010 - 19:21

Russian oil major OAO Gazprom Neft (SIBN.RS) will pay no less than 15% of its net profit under U.S. GAAP standards in dividends, the company said Tuesday following a board meeting.

Shell: To Review Refining Business In Light Of Overcapacity

Τρι, 16 Μαρτίου 2010 - 19:20

Anglo-Dutch oil company Royal Dutch Shell PLC (RDSA) said Tuesday it would carefully reassess its downstream portfolio due to overcapacity in the refining industry and the growth potential for petrochemicals in Asia.

OECD Calls for Green Tax

Τρι, 16 Μαρτίου 2010 - 16:06

The Organization for Economic Cooperation and Development (OECD) has called on Greece to impose further taxes on fuel and abolish subsidies for polluting manufacturers so it can raise funds for investment in the environment.

GDF, Alstom Seek Saudi Partners for $400 Billion in Contracts

Τρι, 16 Μαρτίου 2010 - 13:54

ACWA Power International, the biggest Saudi power project developer, was rebuffed by GDF Suez SA and Marubeni Corp. in 2004 when it proposed partnering to bid for a $2.4-billion desalination and power plant.

Nord Stream Secures Funding

Τρι, 16 Μαρτίου 2010 - 13:45

Nord Stream has secured 3.9 billion euros ($5.3 billion) in financing allowing it to start building a pipeline to pump Russian natural gas to Europe under the Baltic Sea, The Financial Times reported on Tuesday. The funds will come from 26 banks with loan guarantees secured for 80% of the financing from the Italian and German credit agencies Sace and Hermes, the paper said.

Power Grab: Albania Considers Nuclear Energy

Τρι, 16 Μαρτίου 2010 - 13:42

Albania is inching closer to building a nuclear power plant. The government demonstrated its political will by establishing the National Nuclear Agency in January, responsible for development of the Albanian Nuclear Energy Programme.

Russia Not Looking To Merge South Stream, Nabucco

Δευ, 15 Μαρτίου 2010 - 20:17

Russia isn't considering merging its South Stream gas pipeline project with the European Union-backed Nabucco scheme, Energy Minister Sergey Shmatko said Monday, refuting a proposal to do so made last week by Italy's Eni SpA (E)'s Chief Executive Paolo Scaroni.

LNG Seen Fueling Growing Europe Gas Demand

Δευ, 15 Μαρτίου 2010 - 20:16

European demand for natural gas is likely to surprise on the upside between 2010 and 2015, as new gas turbine power capacity will come on stream, says Bernstein. Sees LNG as the only solution to fuel new power capacity, as European and Norwegian production is expected to decline

Germany's Merkel Says Iran Sanctions Looming

Δευ, 15 Μαρτίου 2010 - 20:16

German Chancellor Angela Merkel said Monday the time was nearing for sanctions on Iran over its disputed nuclear program as Tehran has rejected Western efforts to find a negotiated solution.

Russian PM: Claim On Arctic Seabed Is Justified

Δευ, 15 Μαρτίου 2010 - 20:15

Russia's claim on the Arctic continental shelf is justified, President Vladimir Putin said Monday and urged other nations to resolve all controversial issues through dialog, the RIA Novosti news agency reports.

Sales Of German Oil Products -11% On Year In February – MWV

Δευ, 15 Μαρτίου 2010 - 20:15

Total sales of oil products in Germany fell 11% on year in February to 6.07 million metric tons, according to provisional data from industry group MWV. Heating oil sales fell 17% on year to 2.11 million tons. Germany is northwest Europe's largest market for heating gasoil.

Slovak, Hungarian Natural Gas Pipeline Operators Take Bids

Δευ, 15 Μαρτίου 2010 - 20:14

The Slovak and Hungarian natural gas transmission and pipeline operators have started taking binding bids for capacity in the planned pipeline that will connect the Hungarian and Slovak natural gas networks, the Slovak pipeline operator said Monday.

Gazprom Starts Drilling its First Exploration Well in Africa

Δευ, 15 Μαρτίου 2010 - 20:00

Gazprom has started drilling its first exploration well in Africa in the El Assel onshore region in Algeria, the Russian energy giant said in a statement on Monday. Under a contract signed with the Algerian National Hydrocarbon Agency (ALNAFT), Gazprom began drilling the Rhourde Sayah-2 well in the Berkine Basin in Algeria, the statement said.