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Iraqi PM Backs Balanced Oil Price

Iraqi PM Backs Balanced Oil Price

Iraqi Prime Minister Nouri al-Maliki Friday called for a "balanced" oil price that was fair to both producers and consumers, calling for OPEC and international organizations to look into the reason behind current scorching prices.

Slovakia Cuts Price-Fixing Fine For MOL Subsidiary

Slovakia Cuts Price-Fixing Fine For MOL Subsidiary

Slovakia's supreme court has reduced a price-fixing fine for refiner Slovnaft AS (SLN.BS) by nearly 500 million Slovak koruna to SKK838 million ($25.5 million), Hungarian business daily Napi Gazdasag said Friday.

Suez Unit Makes GBP39.2M Offer For Econergy Intl

Suez Unit Makes GBP39.2M Offer For Econergy Intl

Suez Energy South America, a unit of Suez SA, said Friday it has made an all cash offer for the share capital of Econergy International at 45 pence per Econergy share.

Gamesa Signs EUR6.3B Wind Turbine Contract With Iberdrola

Gamesa Signs EUR6.3B Wind Turbine Contract With Iberdrola

Spanish wind-turbine maker Gamesa SA (GAM.MC) Friday said it reached a deal to provide wind turbines worth EUR6.3 billion to Iberdrola Renovables SA (IBR.MC), the renewables unit of Spanish power utility Iberdrola SA (IBE.MC.)

Gas Pipeline Deal Signed With Edison

Gas Pipeline Deal Signed With Edison

Gas company DEPA has signed an agreement with Italy’s Edison for the construction of a 500-million-euro underwater pipeline linking the two countries in one of Greece’s largest energy projects.

Petrol, Food Prices Seen Staying High for 2 yrs

Petrol, Food Prices Seen Staying High for 2 yrs

Petrol prices are likely to remain high for the next two years, experts said yesterday, though they stressed that the worst of the international market turmoil is likely to be fading into the past.

Turkey Cancels Tender for Energy Adviser

Turkey Cancels Tender for Energy Adviser

Turkey’s sell-off agency has canceled a tender to select an adviser for the privatization of a group of power stations belonging to the Electricity Production Corporation, also known as EUAS, banking sources said yesterday. The tender has been canceled as a result of the lack of a satisfactory number of bids.

Iran NIOC In Talks With Gazprom Neft On Oil Field Devt

Iran NIOC In Talks With Gazprom Neft On Oil Field Devt

A senior team of National Iranian Oil Company officials began talks with a delegation from Russia's Gazprom Neft (SIBN.RS), the Iranian state news agency IRNA reported Tuesday.

Iberdrola Withdraws From British Energy Bidding Process

Iberdrola Withdraws From British Energy Bidding Process

Iberdrola SA (IBE.MC) is withdrawing from the bidding process for British Energy Group PLC (BGY.LN), a spokesman for the Spanish electricity company said Thursday, confirming an earlier report from Spanish news agency EFE.

IEA: Saudi Mtg A Chance To Act Collectively To Reassure Mkt

IEA: Saudi Mtg A Chance To Act Collectively To Reassure Mkt

The head of the International Energy Agency sees the June 22 talks in Jeddah, Saudi Arabia among oil producers and consumers as a chance to "act collectively to reassure the market about future demand and supply balances in order to change the perception of extended tightness."

EU Escalates GdF, E.ON Antitrust Case; Sends Charges

EU Escalates GdF, E.ON Antitrust Case; Sends Charges

The European Commission Thursday escalated its antitrust case against French state-controlled natural gas operator Gaz de France (1020848.FR) and German Energy company E.ON AG (EOA.XE), sending formal charges to the companies on suspicion they had agreed to stay out of each other's home markets for the supply of gas.

Irans NIOC To Require Oil Investments Worth $200 Bln

Iran's NIOC To Require Oil Investments Worth $200 Bln

National Iranian Oil Co. hopes to attract domestic and foreign investment to the tune of $200 billion for oil projects under the country's 20-year economic development plan, the oil ministry's official Shana Web site reported Wednesday.