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Russian Finance Min Calls For End To Oil Tax Breaks

Τρι, 26 Ιανουαρίου 2010 - 19:35

Shares in Russia's biggest oil producer OAO Rosneft (ROSN.RS) plummeted more than 7% on Tuesday on fears that government discussions to abandon tax breaks on crude oil produced in East Siberia could hurt the company's profits.

Azerbaijan State Oil Fund Grows To $14.8 Bln In 2009

Τρι, 26 Ιανουαρίου 2010 - 19:33

The assets of energy-rich Azerbaijan's state oil fund rose by nearly a third in 2009 to $14.8 billion, the fund said in a statement Tuesday. But after nearly quadrupling its assets in 2008, the sovereign wealth fund's growth slowed considerably to 32.8% amid the global economic downturn last year.

Tullow Agrees To Buy Heritage's Uganda Oil Assets

Τρι, 26 Ιανουαρίου 2010 - 19:32

Tullow Oil PLC (TLW.LN) said Tuesday it has signed an agreement to buy Heritage Oil PLC's (HOIL.LN) Ugandan oil assets for up to $1.5 billion, pre-empting Heritage's previous sale agreement with Eni SpA (E) and eliminating the possibility of a rival offer.

Gazprom Plans To Increase 2010 European Exports By 15% On-Yr

Τρι, 26 Ιανουαρίου 2010 - 19:31

Russian gas firm OAO Gazprom (GAZP.RS) expects to increase gas exports to European customers by 15% this year compared with 2009, the company said Tuesday.

Russia 2009 Iron Exports Total 4.59 Million Tons,19% Down On Yr

Τρι, 26 Ιανουαρίου 2010 - 19:30

Russia exported in 2009 4.59 million metric tons of iron, 19% less than in 2008, the federal statistics agency reported Tuesday. Iron exports to countries outside the CIS in 2009 totaled 4.46 million tons, 17.2% less than in 2008.

PetroChina takes back energy top slot

Τρι, 26 Ιανουαρίου 2010 - 15:59

PetroChina, the oil company largely owned by the Chinese government, has overtaken ExxonMobil of the US to regain its position as the world’s largest listed energy group by market capitalisation.

Gazprom to Discuss Strategy as U.S. Market Set to Slip Away

Τρι, 26 Ιανουαρίου 2010 - 14:58

Gazprom top executives are to hold a key board meeting today as the energy giant faces up to the possibility of losing the U.S. market. Respected Russian business daily Kommersant reported on Tuesday that abundant shale gas has made the United States, the world's largest natural gas market, self-sufficient while surplus liquefied natural gas undermines the competitiveness of Russian natural gas.

EIB provides 50 mln euros in funding for ‘Green Iraklio’

Τρι, 26 Ιανουαρίου 2010 - 14:38

The European Investment Bank (EIB) and the City of Iraklio in Crete signed an agreement yesterday for a 50-million-euro loan to the local authority of the island’s biggest city aimed at improving quality of life.

Russia Won't Change Oil Tax Before 11-12

Δευ, 25 Ιανουαρίου 2010 - 18:58

Russia's government won't replace the current oil export duty and mineral extraction tax with an excess profit tax, VTB says, following the finance ministry's comments on Friday.

France's EDF Eyes 24% Rate Increase Plan

Δευ, 25 Ιανουαρίου 2010 - 18:57

Electricite de France (EDF.FR) is discussing a plan to seek an increase of around 24% in power rates for the period between 2010 and 2015, according to Les Echos Monday, citing internal projections seen by the newspaper, which said a government source confirmed a range of between 20% and 30%.

Eni CEO Says Africa Growth Is Priority

Δευ, 25 Ιανουαρίου 2010 - 18:57

Growth in Africa is a priority for Italian oil and natural gas company Eni SpA (E) and its planned acquisition in Uganda is "very" important," daily la Repubblica quotes Chief Executive Paolo Scaroni as saying Monday.

China Got 7.7M Tons Crude Via Kazakhstan Pipeline In '09

Δευ, 25 Ιανουαρίου 2010 - 18:56

China received 7.73 million metric tons or around 155,000 barrels a day of crude oil from the Sino-Kazakhstan crude pipeline last year, the state-controlled Xinhua News Agency reported Monday.

E.On To Pay Gazprom In Full For Low Gas Imports In 2009

Δευ, 25 Ιανουαρίου 2010 - 18:56

Germany's E.On AG (EOAN.XE) has agreed to pay Russian gas firm OAO Gazprom (GAZP.RS) between $500 million and $700 million under a take-or-pay clause for gas deliveries in 2009, the Kommersant daily reported Monday citing people familiar with the talks.