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Expert Warns Bulgaria Faces Difficult Mid-term Gas Scenario

Expert Warns Bulgaria Faces Difficult Mid-term Gas Scenario

Despite a drop in gas consumption in 2009, due to the economic crisis, a critical European decrease is unlikely until 2012, according to Bulgarian geopolitician Plamen Dimitrov. Speaking on the topic of Bulgaria's place on the new Eurasian energy map, the scientist noted that it was unrealistic to expect that the Nabucco natural gas pipeline would come onstream before 2016.

Oil Falls Below $80 on U.S. Inventories, China

Oil Falls Below $80 on U.S. Inventories, China

Oil fell to its lowest level this year on Wednesday, dipping below $80 a barrel after an industry report showed rising U.S. distillate inventories, despite the severe northern hemisphere winter.

Duties May Prompt Slide in Petrols Profit

Duties May Prompt Slide in Petrol's Profit

Slovenia’s largest fuel retailer Petrol said yesterday its 2010 profit could be halved due to the government’s plans to raise excise duties on fuel. The company did not say what profit it referred to, but in December it had said it expected to reach group net profit of 43.2 million euros ($62.7 million) in 2010, up 6 percent from 2009 expected profit.

ExxonMobil, Petrobras In Pact With Turkish Natl Oil Co

ExxonMobil, Petrobras In Pact With Turkish Natl Oil Co

Exxon Mobil Corp. (XOM) and Petroleo Brasileiro S.A. (PBR) said Tuesday they struck a deal with the Turkish National Oil Co. (TPAO) to drill for deepwater oil and gas in the Black Sea.

German Govt, Utilities To Discuss Nuclear Power Jan 21

German Govt, Utilities To Discuss Nuclear Power Jan 21

German government officials have invited representatives from utility companies and key ministries to meet in Berlin Jan. 21 to discuss nuclear energy policy, people familiar with the plans said Tuesday.

Iraq Targets 2M B/D Oil Exports In 1H 2010 -SOMO Chief

Iraq Targets 2M B/D Oil Exports In 1H 2010 -SOMO Chief

Iraq is aiming to export some 2 million barrels a day of Basra light and Kirkuk crude oil in the first half of 2010, the head of the State Oil Marketing Organization told Dow Jones Newswires Tuesday.

EU: Greece is a Serious Concern

EU: Greece is a Serious Concern

The European Commission is following the economic situation in Greece “with serious concern,” the bloc’s designated economy commissioner, Olli Rehn, said in Brussels yesterday. Rehn was addressing the European Parliament, which began grilling members of the EU executive body ahead of a vote on their appointment scheduled for January 26.

Putin Urges Prompt Elimination of Energy Failures

Putin Urges Prompt Elimination of Energy Failures

Russia's Prime Minister Vladimir Putin has urged power engineering specialists to fix energy failures without delays, Itar-Tass quotes him saying during a meeting with the regional development minister, Viktor Basargin, on Monday.

Iraq Wants Explanations On Iran Border Nuclear Plant

Iraq Wants Explanations On Iran Border Nuclear Plant

The Iraqi government on Monday called for "explanations" from the U.N. nuclear watchdog on a reported plan for Iran to build a nuclear reactor near the border between the two countries.

Caspian Pipeline Consortium 2009 Exports At 34.6M Tons; Up 10%

Caspian Pipeline Consortium 2009 Exports At 34.6M Tons; Up 10%

The Caspian Pipeline Consortium, which pumps oil from Kazakhstan to the Black Sea, last year shipped 34.6 million tons of oil through the Novorossiysk terminal, a 9.9% increase from 2008, the company said Monday.

Turkmenistan Resumes Natural Gas Supplies To Russia

Turkmenistan Resumes Natural Gas Supplies To Russia

Turkmenistan resumed gas supplies to Russia on Saturday, Russian state energy giant Gazprom said, after a nine-month break that raised questions about Moscow's influence in the energy-rich state.

Russia Oil Supply To Belarus Unaffected By Lack Of Deal

Russia Oil Supply To Belarus Unaffected By Lack Of Deal

Russian oil supplies are continuing to and via Belarus to Europe despite the two countries' failure to sign an agreement for 2010, Belarus's state energy firm, Belneftekhim, said Monday, according to the RIA Novosti news agency.