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PPC Offers Power Deal to Metka

Τετ, 26 Αυγούστου 2009 - 13:53

Public Power Corporation (PPC) said yesterday it had awarded a consortium led by Metka a 500-million-euro contract to build an 811-megawatt natural gas-powered plant in Megalopoli, southern Greece. The deal is subject to power plant builder Metka, a subsidiary of Mytilineos Holdings, and partner ETADE accepting the project’s price tag, which is 43 million euros below the offer they submitted, PPC said in a bourse filing.

Iran May Fail To Tap Oil Find As Sanctions Tighten

Τρι, 25 Αυγούστου 2009 - 16:49

Iran may struggle to put its latest oil field discovery into production because of a lack of technology and tougher commercial sanctions, analysts said Tuesday.

Mongolia, Russia Create Uranium Joint Venture

Τρι, 25 Αυγούστου 2009 - 16:48

Russia and Mongolia on Tuesday signed a deal to form a joint venture to exploit the Dornod uranium deposit in the resource-rich former Soviet satellite state.

UN Scientist Backs 350 PPM Target For CO2 Reduction

Τρι, 25 Αυγούστου 2009 - 16:47

The U.N.'s top climate scientist has, for the first time, backed ambitious goals for slashing greenhouse gas emissions that many climate negotiators say are beyond reach.

Eni Starts Production In Egypt's North Bardawil Field

Τρι, 25 Αυγούστου 2009 - 16:46

Italian energy company Eni SpA (E) said Tuesday it has begun natural gas production at the offshore Egyptian North Bardawil field, adding it estimates a maximum daily output of about 17,000 barrels of oil equivalent.

Italy Needs More Than 4 Nuclear Plants

Τρι, 25 Αυγούστου 2009 - 16:45

Italy will need more than four nuclear plants to be able to reach the government's target of 25% of its power generated from atomic energy, Enel SpA (ENEL.MI) Chief Executive Fulvio Conti said Tuesday.

Iraq Cabinet To OK Rumaila Oil Field Deal Soon

Τρι, 25 Αυγούστου 2009 - 16:45

The Iraqi cabinet expects to soon approve the Rumaila oil field deal that was agreed with a consortium of BP PLC (BP.LN) and China National Petroleum Corp., or CNPC, in the first bidding round, Iraq's oil minister said Tuesday.

Firefighters Tame Attica Blazes

Τρι, 25 Αυγούστου 2009 - 16:14

Weary firefighters battled raging forest fires along a strip of suburbs northeast of Athens for a fourth day yesterday, managing to bring most of the blazes under control and curb the destruction of forestland and homes. Aided by a drop in near gale-force winds, firefighters managed to control several fronts that had been threatening the communities of Pikermi and Nea Makri in northeastern Attica and to douse a new fire at Porto Germeno, western Attica.

Turkish Tanker Operator Says Abkhazia Trade Risks Too High

Τρι, 25 Αυγούστου 2009 - 14:50

The Turkish operator of a tanker that was seized by Georgian authorities for delivering fuel to breakaway Abkhazia said yesterday he had given up the idea of sending any further supplies to the Black Sea territory. Georgia has passed legislation that forbids commercial traffic heading to Abkhazia in an attempt to isolate the territory, which was recognized by Moscow as independent after a five-day war between Georgia and Russia last August.

PPC Figures

Τρι, 25 Αυγούστου 2009 - 14:44

Public Power Corp, Greece’s biggest electricity producer, may post a second-quarter profit after fuel prices fell. PPC probably had net income of 158 million euros ($226 million), compared with a loss of 141.8 million a year earlier, according to the median estimate of seven analysts in a Bloomberg News survey.

Nine Bids Made for Larco Advisers Weigh Up Options

Τρι, 25 Αυγούστου 2009 - 14:41

Nine firms have expressed interest in becoming a strategic investor in Greece’s state-run ferronickel producer Larco, the Economy and Finance Ministry said yesterday. None of the potential investors was named by the ministry. “The offers are being assessed by the government’s financial and legal advisers who will submit their recommendations to a joint ministerial privatizations commitee in coming days,” the ministry said in a statement.

Motor Oil Q2 Profit Seen Sharply Lower

Τρι, 25 Αυγούστου 2009 - 14:39

Motor Oil, Greece’s second-biggest refiner, is expected to post a 45 percent year-on-year decline in second-quarter net profit, hurt by narrower refining margins and smaller oil valuation gains.The average forecast for net profit from eight analysts polled by Reuters was 39.2 million euros ($56.1 million), down from 70.9 million in the same period a year earlier.

Nuclear Power

Τρι, 25 Αυγούστου 2009 - 14:29

Turkey’s energy minister highlighted last week problems in a tender won by a Russian company to build the country’s first nuclear power plant amid media reports that Ankara could cancel the project. A consortium led by Atomstroyexport, Russia’s state nuclear giant, was the only bidder in the tender last year and the government – unhappy with the financial terms – is yet to decide whether to go ahead.