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Azerbaijan Oil Fund Hits $11.2 Bln In 2008 On High Prices

Azerbaijan Oil Fund Hits $11.2 Bln In 2008 On High Prices

Assets in Azerbaijan's state oil fund rose more than fourfold in 2008 to 9 billion manat($11.2 billion) on the back of high oil prices, the fund's director, Shahmar Movsumov said Wednesday.

Kazakh Kazmunaigas EP 2008 Crude Output Up 12.4% On Year

Kazakh Kazmunaigas EP 2008 Crude Output Up 12.4% On Year

London-listed Kazakh oil and gas producer KazMunaiGas Exploration Production (RDGZ.KZ) said Thursday it produced 11.954 million metric tons, or 239,800 barrels a day, of crude oil in 2008.

EU To Launch Eastern Partnership At May Summit

EU To Launch Eastern Partnership At May Summit

European leaders will launch their "Eastern Partnership" to boost ties with six ex-Soviet republics at a Prague summit in May, a Czech European Union presidency source said Thursday.

EU Summit on Nabucco Gas Pipeline Begins in Budapest

EU Summit on Nabucco Gas Pipeline Begins in Budapest

"The Nabucco gas pipeline is a very important project and the Czech Republic will do its best in its completion," Czech Prime Minister Mirek Topolanek whose country is currently holding EU presidency. According to him, not only Eastern-European countries but also EU as a whole is convinced in the necessity of Nabucco.

EU Proposes EUR5B Package To Promote Econ Recovery

EU Proposes EUR5B Package To Promote Econ Recovery

The European Commission Wednesday proposed spending EUR5 billion to help revive the European economy, including new funds for alternative energy, high-speed Internet and gas pipelines to diversify European supply away from Russia.

EU Ferrero-Waldner:EU Needs A Strong Energy Strategy

EU Ferrero-Waldner:EU Needs A Strong Energy Strategy

The recent natural gas dispute between Russia and Ukraine has proved the need for the development of a strong European Union energy strategy and the diversification of Europe's energy supply, said European Union Commissioner for External Relations, Benita Ferrero-Waldner Wednesday.

Ukrainian Sea Ports 2008 Throughput Rose 6.8% On Year

Ukrainian Sea Ports' 2008 Throughput Rose 6.8% On Year

Ukraine's 19 state-owned sea ports handled 132.17 million metric tons of cargo in 2008, an increase of 6.8% compared with 2007, the transport and communications ministry reported Wednesday.

Verbund, Sabanci Buy Turkish Power Grid Co Baskent EDAS

Verbund, Sabanci Buy Turkish Power Grid Co Baskent EDAS

Austrian utility company Verbund AG (VER.VI) said Wednesday that it and Turkish partner Sabanci Energy Group, through their joint venture Enerjisa, have undersigned the purchase contract with the Turkish government for distribution grid company Baskent EDAS in Ankara.

Iraq To Name Qualified Cos For 2nd Bid Round End-Mar

Iraq To Name Qualified Cos For 2nd Bid Round End-Mar

The Iraqi oil ministry will announce the list of prequalified companies eligible to bid for the country's second round of oil and gas tenders at the end of March, an authorized ministry spokesman said Wednesday.

Iranians Protest Opposition Group Losing EU

Iranians Protest Opposition Group Losing EU

Hundreds of Iranians staged a protest outside the British embassy on Wednesday against a decision by the European Union to strike Iran's exiled armed opposition from its terror list.

Russia Sets Price For East Talakan Field At RUB1.66B

Russia Sets Price For East Talakan Field At RUB1.66B

The Russian government's subsoil agency Rosnedra has set a high starting price of 1.66 billion rubles ($50.3 million) at a tender for the license to the East Talakan oil and gas field in Eastern Siberia, the Vedomosti daily says Wednesday citing the agency.

Nord Stream Chief Executive May Sit On Gazprom Board

Nord Stream Chief Executive May Sit On Gazprom Board

The chief executive of the Nord Stream pipeline consortium Matthias Warnig will be nominated to the board of directors of Russia's gas monopoly OAO Gazprom, the daily Vedomosti reported Wednesday, citing several unnamed officials.

The Nuclear Option for SE Europe: A Critical Appraisal, A One Day Conference Convened by the Institute of Energy for SE Europe (IENE) Sofia, April 2009

The Nuclear Option for SE Europe: A Critical Appraisal, A One Day Conference Convened by the Institute of Energy for SE Europe (IENE) Sofia, April 2009

In the light of the recent developments in international energy politics and acknowledging that the debate over the re-emergence of nuclear power in Europe has made a powerful comeback, IENE is organizing a one day conference in Sofia, Bulgaria on April on the Nuclear Option for SE Europe in order to establish a forum that will discuss the opportunities for nuclear power development in SE Europe.

Bulgaria PM Strikes Gas Delivery Deal with Azerbaijan

Bulgaria PM Strikes Gas Delivery Deal with Azerbaijan

Bulgaria is going to receive natural gas from Azerbaijan in the volume of 1 B cubic meters per year, the Bulgarian information agency BGNES reported citing the Bulgarian Cabinet Press Center. The delivery was negotiated Monday during a meeting between the Bulgarian Prime Minister Sergey Stanishev and the President of Azerbaijan Ilham Alyiev.

Iran Exec In Turkmenistan For Talks To Develop Gas Field-Report

Iran Exec In Turkmenistan For Talks To Develop Gas Field-Report

National Iranian Gas Exporting Co. (NIGEC) chief Seyed Reza Kasaeizadeh traveled to Turkmenistan Tuesday to hold talks on the development of a large Turkmen natural gas field by the Islamic republic, the oil ministry's official Shana news Web site reports Tuesday.