English Edition

PPC upbeat on earnings for 2009

Τετ, 11 Νοεμβρίου 2009 - 16:57

Public Power Corporation (PPC) yesterday reported nine-month net profits of 643 million euros on lower power generation costs, beating market expectations. The result, which beat analysts expectations for a figure of about 623 million euros, is a sharp improvement on the company’s 245-million-euro losses for the same period a year ago.

Russia GDP To Contract 8.7% In '09, Grow 3.2% In '10

Τρι, 10 Νοεμβρίου 2009 - 20:14

The World Bank Tuesday said the Russian economy would contract 8.7% in 2009, worse than previously forecast, but predicted a modest recovery to growth of 3.2% in 2010.

Gazprom Profit Drops 36% As Demand Slips

Τρι, 10 Νοεμβρίου 2009 - 20:12

Russian natural-gas monopoly OAO Gazprom said Monday its second-quarter net profit tumbled 36% because of reduced demand for natural gas in Europe and lower prices.

Eni Faces Threat To Gas Network

Τρι, 10 Νοεμβρίου 2009 - 20:11

Italian energy giant Eni SpA is facing a threat to its lucrative natural-gas business, long considered a ballast against volatile oil prices, as European Union trade regulators consider breaking up its network.

Serbian State Co, Gazprom To Form Joint Company

Τρι, 10 Νοεμβρίου 2009 - 20:09

Serbia's state-run gas company and Russia's OAO Gazprom (GAZP.RS) will form a joint company on November 17 to build the Serbian section of the South Stream gas pipeline, Beta news agency reported Monday.

Iraqi Cabinet To Ok Zubair Oil Deal With Eni Next Week

Τρι, 10 Νοεμβρίου 2009 - 20:08

The Iraqi Council of Ministers plans to approve an initial agreement with Italy's Eni SpA (E) to develop the giant Zubair oil field in southern Iraq next week, the country's Prime Minister Nouri al-Maliki said Tuesday.

BTC Pipeline Scheduled To Pump 27.35M Barrels In Dec

Τρι, 10 Νοεμβρίου 2009 - 20:06

The Baku-Tbilisi-Ceyhan oil pipeline is expected to pump 27.35 million barrels of crude oil in December, rising from 24.6 million barrels when compared with volumes planned for delivery in November, according to a crude oil trader who received the loading program.

Poland Shortlists Saipem, Tecnimont, Daewoo To Build LNG Port

Δευ, 9 Νοεμβρίου 2009 - 17:12

Polskie LNG Sp zoo has shortlisted three consortia, led by Saipem SpA (SPM.MI), Maire Tecnimont SpA, and Daewoo Engineering & Construction Co Ltd (047040.SE), to make initial offers to build a liquefied natural gas terminal in Poland, the state-owned company said in a statement Monday.

EBRD To Lend Lukoil Up To $300 Mln For Power Subsidiary

Δευ, 9 Νοεμβρίου 2009 - 17:10

The European Bank for Reconstruction and Development said Monday it will lend Russian oil giant OAO Lukoil (LKOH.RS) up to $300 million to fund the modernization of a power subsidiary in southern Russia.

Gazprom 2Q Net Profit Down 35% On Lower Gas Prices

Δευ, 9 Νοεμβρίου 2009 - 17:09

Russia's natural gas monopoly OAO Gazprom (GAZP.RS) said its second-quarter net profit tumbled 35% due to lower demand for gas in Europe and lower prices.

Iraqi Parliament To Question Oil Min Nov 10

Δευ, 9 Νοεμβρίου 2009 - 17:07

Iraq’s parliament has moved the questioning session of the country’s oil minister Hussein al-Shahristani from Nov. 11 to Nov. 10, an Iraqi oil ministry official and a lawmaker said Monday.

US Ready To Give Iran Some Space On Uranium Deal

Δευ, 9 Νοεμβρίου 2009 - 17:06

The U.S. wants to give Iran "some space" in negotiations on a key deal on the supply of fuel for a nuclear reactor, amid signs Tehran is set to reject it, a top U.S. official said here Monday.

Bids For EDF's UK Grids Sale Seen Early 2010

Δευ, 9 Νοεμβρίου 2009 - 17:04

Bids are expected for Electricite de France SA's (EDF.FR) U.K. power grids sale early next year, with the winner expected to be known by March, people familiar with the matter said Monday.

New Doubts Surface Over Economy

Δευ, 9 Νοεμβρίου 2009 - 16:04

Ratings agency Moody’s expressed concerns yesterday about whether Greece’s economy will be able to grow over the next decade as the government wrestles with one of the highest debt levels in the eurozone.

EU:Ukraine Says It Has Enough Gas In Storage For Winter Period

Παρ, 6 Νοεμβρίου 2009 - 14:41

Ukraine told the European Commission that it has enough natural gas in storage to meet demand for the winter period, a commission spokesman said Friday.

Poland To Announce LNG Terminal Builder Short-List Monday

Παρ, 6 Νοεμβρίου 2009 - 14:38

Polish natural gas pipeline operator Gaz-System will Monday release a short-list of general contractors eligible to build a planned LNG terminal on the Baltic coast, a unit of Gaz-System said in a statement Friday.