English Edition

OPEC's 11 Members 83% Compliant,Still 705,000 B/D To Cut

Τρι, 5 Μαΐου 2009 - 19:14

OPEC's 11 quota-bound members were complying with 83% of agreed cuts in April and still have 705,000 barrels left to cut, Vienna-based consultancy JBC Energy said Tuesday.

Petrobras, Turkish Petroleum Sign Pact To Operate In Black Sea

Τρι, 5 Μαΐου 2009 - 19:12

Brazil's state-run oil firm Petroleo Brasileiro (PBR), or Petrobras, has signed an accord with counterpart Turkish Petroleum Corporation to operate an oil-drilling platform in the Black Sea, Petrobras said Monday.

Russia's Slippery Oil Boost

Τρι, 5 Μαΐου 2009 - 19:11

After months of struggling, Russia says its crude production rose nearly 1% in April. If sustained, that could bode well for global oil supplies in the event demand ever recovers. But take the latest data with a grain of salt.

Greek Economy to Shrink in 2009

Τρι, 5 Μαΐου 2009 - 14:53

European Economic and Monetary Affairs Commissioner Joaquin Almunia presents the spring economic forecast in Brussels yesterday, which includes a grimmer outlook for the domestic economy. The European Commission expects Greece’s economy to tip into recession this year, for the first time in more than 15 years, due to the ongoing crisis and prevailing uncertainty.

Turkish PM To Meet Azerbaijani, Russian Leaders

Δευ, 4 Μαΐου 2009 - 18:21

Turkish Prime Minister Recep Tayyip Erdogan will meet with leaders of Azerbaijan and Russia this month as efforts to resolve long-standing regional conflicts intensify, a government official said Monday.

Ukraine Pres Tentatively Backs EU Partnership

Δευ, 4 Μαΐου 2009 - 18:20

Ukraine's President Viktor Yushchenko expressed guarded support for a European Union bid to improve ties with his country and five others in eastern Europe, in an interview with European media published Monday.

Russia April Oil Output Up 0.5% On Mo To 9.85 Mln B/D

Δευ, 4 Μαΐου 2009 - 18:18

Russia produced an average of 9.85 million barrels a day of crude oil and condensate in April, up 0.5% from March, the Interfax news agency reported Monday, citing Ministry of Industry and Energy statistics. The country produced 40.32 million metric tons of oil in April, Interfax reported, citing data from the TsDU-TEK department of the Industry and Energy Ministry.

Russia Plans Floating Nuclear Plants In Arctic

Δευ, 4 Μαΐου 2009 - 18:16

Russia is planning to build a fleet of floating nuclear power stations in the arctic in order to enable the tapping of oil and gas reserves, sparking concern among environmentalists, The Observer newspaper reports Sunday.

RWE Buys 26.7% In Belgium Offshore Wind Park Thornton Bank

Δευ, 4 Μαΐου 2009 - 18:15

German utility RWE AG (RWE.XE) Monday said it will acquire a 26.72% stake in Thornton Bank, an offshore wind park off the Belgian coast, becoming the largest single shareholder in the project.

EDF, GDF-Suez To Join In French Penly Reactor Project

Δευ, 4 Μαΐου 2009 - 18:13

French utilities Electricite de France SA (EDF.FR) and GDF Suez SA (GSZ.FR) will join up to build France's second EPR nuclear power reactors.

Iraq To Award Nassiriyah Oil Field Within Weeks

Δευ, 4 Μαΐου 2009 - 18:11

Iraq is expected to award the contract to develop the giant Nassiriyah oil field in southern Iraq to one of three competing international oil companies within weeks, Iraq's Oil Minister Hussein Al Shahristani said in press remarks published Monday.

PPC wants tough rules for rival power traders

Δευ, 4 Μαΐου 2009 - 15:38

Greece's dominant electricity utility, the Public Power Corporation (PPC), wants the government to impose charges on rivals who cherry-pick its most lucrative clients, a company official said on Thursday. PPC, Western Europe's last state electricity company to lose its monopoly, faces rising competition from rivals entering the power generation and supply business as Greece opens up its energy market to comply with European Union laws.

South Stream

Δευ, 4 Μαΐου 2009 - 15:30

Prime Minister Vladimir Putin said yesterday that Russia and Bulgaria have set aside their differences over the proposed South Stream gas pipeline to Europe, paving the way for an agreement within the next couple of weeks. “We have no disagreements left,” Putin said at a televised news conference with his Bulgarian counterpart.