English Edition

Econ Min: Oil Price Impact On German Econ Limited

Τρι, 13 Μαΐου 2008 - 03:30

The impact of record-high oil prices on the German economy is limited because the strong euro helps to offset oil prices that are billed in dollars and because oil-producing countries' purchasing power has increased through higher oil-related revenues, German Economics Minister Glos told Tuesday's Tagesspiegel newspaper.

ERG To Move Renewables Ops To Enertad In Exchange For Shares

Τρι, 13 Μαΐου 2008 - 03:28

ERG SpA (ERG.MI), Italy's biggest independent refiner by capacity, said late Monday the board had approved transferring its renewable energy activities to Enertad SpA (ENR.MI) in exchange for boosting its stake in the wind power company.

Distrigas 1Q Turnover +32.4% On Arbitrage, Higher Gas Prices

Τρι, 13 Μαΐου 2008 - 03:27

Belgian gas distributor Distrigas (DIST.BT), part of French utility group Suez (SZE.FR), Tuesday posted a 32.4% rise in first quarter turnover at EUR1.74 billion, as arbitrage activities and higher energy prices boosted results.

IEA Cuts World Oil Demand Growth Again;More Cuts Possible

Τρι, 13 Μαΐου 2008 - 03:26

The International Energy Agency cut this year's forecast for world oil demand growth for the second consecutive month citing increasing evidence that high oil prices are having a marked impact on U.S. and European appetite for oil, saying that further cuts could lie ahead.

Gasoline Markets May Be In 'Structural Shift' - IEA

Τρι, 13 Μαΐου 2008 - 03:25

The International Energy Agency Tuesday said global gasoline markets could be undergoing a "structural shift" toward surplus inventories and lower refining margins.

IEA: Replacing World Biofuels Would Require 1M B/D More Oil

Τρι, 13 Μαΐου 2008 - 03:23

To replace the global supply of ethanol and biodiesel-based biofuels added to the U.S. and European markets since 2005 would require an additional 1 million barrels of crude oil to be processed per day, the International Energy Agency said Tuesday.

Norway's 2007 Greenhouse Gas Emissions Up 2.7% On Year

Τρι, 13 Μαΐου 2008 - 03:22

Greenhouse gas emissions in Norway increased 2.7% in 2007 from the previous year, data from Statistics Norway showed Tuesday, due primarily to carbon dioxide emission from flaring at StatoilHydro's ASA (STO) liquefied natural gas plant at Melkoeya.

Budapest Court Rejects OMV Case Against MOL

Τρι, 13 Μαΐου 2008 - 03:20

The Budapest Municipal Court Tuesday rejected a case brought against Hungarian oil and gas company MOL Nyrt. (MOL.BU) by Austrian peer OMV AG (OMV.VI) in a first-instance ruling, state-run news agency MTI said.

Saudi Petroleum Sells Fuel Oil Cargo To Cargill - Traders

Τρι, 13 Μαΐου 2008 - 03:19

Saudi Petroleum, a unit of state-owned Saudi Arabian Oil Co., has sold a fuel oil spot cargo to Cargill for loading later this month, traders said.

Pipeline Politics, in Perspective

Τρι, 13 Μαΐου 2008 - 01:57

The agreement between Greece and Russia for the construction and management of part of the South Stream natural gas pipeline that will cross Greece to Italy and the rest of Western Europe is, without doubt, an important development.

Gas Pumps Run Dry as Drivers Strike

Τρι, 13 Μαΐου 2008 - 01:33

A motorcyclist pushes his bike into a service station in Athens yesterday only to be told that all gasoline supplies have run out. A weeklong strike by truck drivers has left service stations without fuel supplies as drivers queued for up to 2 kilometers on Saturday to buy the last remaining gasoline on the market.

Plan Set for Green Ministry

Δευ, 12 Μαΐου 2008 - 05:29

Greece has announced plans to set up a separate Environment Ministry in about 18 months as the conservative government comes under growing pressure over its environmental policies. Greece currently runs a joint Environmental, Physical Planning and Public Works Ministry, headed by Giorgos Souflias.

Holmen, Iberdrola Invest In Spanish Power Plant

Δευ, 12 Μαΐου 2008 - 03:01

Swedish forest products industry group Holmen AB (HOLM-B.SK) and Spanish utility Iberdrola S.A. (IBDRY) will invest about 220 million Swedish kroner (EUR23.7 million) in a new gas power plant outside Madrid, Swedish business daily Dagens Industri reports Monday.