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Bosphorus Gas Takes Over Contract With Gazprom

Bosphorus Gas Takes Over Contract With Gazprom

Turkey-based Bosphorus Gas said Friday it has taken over a natural gas sale contract between state-owned gas company BOTAS and Russia's Gazprom (GAZP.RS), Ihlas News Agency, or IHA, reported.

Algeria Oil, Gas Tender Hit By Downturn

Algeria Oil, Gas Tender Hit By Downturn

An Algerian official has partly blamed the financial crisis for a lower-than-expected number of oil and gas exploration license bids last week.

Lukoil Expects 4Q Capital Spending At $2.5 Bln

Lukoil Expects 4Q Capital Spending At $2.5 Bln

Russia's second-largest oil producer OAO Lukoil (LKOH.RS) expects its fourth-quarter investment program to total $2.5 billion, Interfax news agency reported Friday, citing the oil major's senior investment analyst, Andrei Gaidamaka.

OPEC Plans Record Output Cut

OPEC Plans Record Output Cut

The world's big oil producers, flush and powerful just months ago, said they would cut crude supplies by a record amount but found even that couldn't stop prices from sliding to their lowest level in four years.

Gazprom: May Halt Gas Supplies To Ukraine After Jan 1

Gazprom: May Halt Gas Supplies To Ukraine After Jan 1

Russia's OAO Gazprom (GAZP.RS) Thursday said from Jan. 1 it isn't obliged to continue supplying natural gas to Ukraine, which has fallen behind on payments, and may halt deliveries.

EU: Expresses Deep Concern On Ukraine-Russia Gas Dispute

EU: Expresses Deep Concern On Ukraine-Russia Gas Dispute

The European Union is deeply concerned after Russia's OAO Gazprom (GAZP.RS) said it may halt deliveries of natural gas to Ukraine from Jan. 1, a spokesman for Energy Commissioner Andris Piebalgs said Thursday.

Iran, Turkey To Set Up JV To Construct Gas Pipeline

Iran, Turkey To Set Up JV To Construct Gas Pipeline

Iran and Turkey are aiming to set up a joint venture for the construction of two pipelines transporting natural gas from the Islamic Republic to the Turkish and Greek borders, the IRNA news agency quoted Gholam Hossein Nozari as saying Tuesday.

Iran Says Crude Stockpiles Fall On Sales To Europe - Official

Iran Says Crude Stockpiles Fall On Sales To Europe - Official

Iran has sold all crude oil being stored in Egypt's Sidi Kerir terminal and is sending two additional crude carriers from Kharg Island in the Persian Gulf to be lifted by purchasers from the Mediterranean Sea port, a senior Iranian oil official said.

Gazprom 2009 Invest Plan RUB720 Bln, Says Deputy PM

Gazprom 2009 Invest Plan RUB720 Bln, Says Deputy PM

State-controlled OAO Gazprom's (GAZP.RS) investment program for next year could be as low as 720 billion rubles ($26.2 billion), a top government official said Thursday, contradicting an announcement by the company's own chief executive.

Putin Lowers Jan 1 Household Gas Tariffs Rise To 5%

Putin Lowers Jan 1 Household Gas Tariffs Rise To 5%

Gas tariffs for Russian households will rise 5% instead of an earlier planned 25% Jan. 1, the Interfax news agency said Thursday, citing Prime Minister Vladimir Putin.

Energy Deal Rift Shakes Serb Coalition

Energy Deal Rift Shakes Serb Coalition

Serbia’s deputy prime minister said yesterday that a government crisis over a Russian energy deal could force a coalition reshuffle involving a partnership with a newly formed moderate nationalist party. “If there is a need for the government to survive for national interests, I am sure some (opposition) parties would understand this,” Deputy Prime Minister Ivica Dacic said in an interview published in the daily Vecernje Novosti.

GEK TERNA and GDF SUEZ enter into a partnership in the Greek power generation market

GEK TERNA and GDF SUEZ enter into a partnership in the Greek power generation market

The GEK TERNA Group and GDF SUEZ have reached an agreement to enter a partnership wherein both groups hold a 50% stake in the first two power plants of GEK TERNA Group (HERON I & HERON II). According to the agreement, the management of the two plants will be conducted by both parties equally.

BP Agrees To Exit Caspian Pipeline Consortium Project

BP Agrees To Exit Caspian Pipeline Consortium Project

U.K. oil major BP PLC (BP) has agreed with shareholders at Caspian Pipeline Consortium to exit the project, Mikhail Barkov, deputy chief executive of Russian oil pipeline operator Transneft (TRNFP.RS), said Wednesday.

OPEC Agrees To Output Cut Of 2 Mln B/D

OPEC Agrees To Output Cut Of 2 Mln B/D

OPEC agreed Wednesday to a record cut in oil output of 2 million barrels a day, Saudi Arabian Oil Minister Ali Naimi said.

Global Oil Demand To Fall 0.15M B/D In 2009

Global Oil Demand To Fall 0.15M B/D In 2009

The Organization of Petroleum Exporting Countries Tuesday forecast global crude oil demand would contract in 2009, dragged down by a "huge decline" in demand from recession-hit industrialized nations.