English Edition

Russia's MOF Proposes Lower Fuel Excise Tax

Τετ, 7 Μαΐου 2008 - 03:38

Russia's Finance Ministry Tuesday proposed to lower the excise tax on domestic gasoline standards Euro-4 and Euro-5 in order to stimulate the consumption of higher-quality fuels, the Vedomosti daily said Wednesday, citing a ministry official.

CEZ CEO: Nuclear Power Most Viable Option To Cut CO2

Τετ, 7 Μαΐου 2008 - 03:37

State-controlled Czech power company CEZ AS (BAACEZ.PR) would like to build new nuclear generation capacity but has its hands tied because the government remains against building new nuclear capacity, CEZ's chief executive said Tuesday.

International Pwr Buys Rest Of Portuguese Gas Plant

Τετ, 7 Μαΐου 2008 - 03:35

U.K. power producer International Power (IPWG) Wednesday said it was selling EUR500 million worth of convertible bonds in order to fund "a number" of acquisitions, including the remaining 40% stake in Portuguese gas-fired power plant company Turbogas.

Tatneft: 2007 Proved Reserves Up 228M Barrels To 6.1B Barrels

Τετ, 7 Μαΐου 2008 - 03:34

OAO Tatneft (TATN.RS), Russia's sixth-largest oil producer by volume, said Wednesday its proved reserves of crude oil increased by 228 million barrels in 2007 to 6,139.7 million barrels.

Romania Petrom 1Q Net Pft More Than Doubles

Τετ, 7 Μαΐου 2008 - 03:33

Romania's largest vertically integrated oil company, Petrom SA (SNP.RO), said Wednesday its first-quarter net profit more than doubled to 977 million lei ($415 million) from RON381 million a year earlier, on higher oil prices and positive restructuring results, news agency Mediafax reported.

Russia's Putin Urges New Pres Medvedev To Pursue His Policies

Τετ, 7 Μαΐου 2008 - 03:31

Russia's Vladimir Putin impressed upon his successor Dmitry Medvedev the importance of continuing his policies as president in a speech at a Kremlin inauguration ceremony Wednesday.

CEZ Exec Sees 50% Cut To Coal-plant Refurbish Capex

Τετ, 7 Μαΐου 2008 - 03:29

Czech power company CEZ AS (BAACEZ.PR) is going to halve its planned capital expenditure on refurbishing its fleet of coal-fired power plants, and redirect that capital mostly into the construction of natural gas-fired power plants, a senior CEZ executive said Wednesday.

Greece’s Power Sufficiency Now in Hands of its Neighbors

Τρι, 6 Μαΐου 2008 - 07:26

The country’s energy authorities are seeking to import quantities of electricity to ensure sufficiency during the crucial summer months.

Gov’t doesn’t See Excessive Dependence on Russian Gas

Τρι, 6 Μαΐου 2008 - 07:21

Development Minister Christos Folias told a press briefing yesterday that the USA and Greece agree on the need to prevent monopolies in energy supplies.

Environmental Alarm Sounded for Greece

Τρι, 6 Μαΐου 2008 - 07:18

Public Works and Environment Minister Giorgos Souflias speaks at the Athens Summit on Climate Change and Energy Security, which began at the Athens Hilton Hotel yesterday and will run until tomorrow. Souflias has come under criticism from environmental groups and the media for not giving green issues enough attention.

OGK-5 2007 IFRS Net Profit RUB2.0 Bln >OGKE.RS

Τρι, 6 Μαΐου 2008 - 03:49

Russian wholesale electricity generator OAO OGK-5 (OGKE.RS), majority-owned by Italy's Enel SpA (ENEL.MI), Tuesday said its 2007 net profit rose to 2 billion rubles ($84.2 million).

EDF Board To Meet Over British Energy Wed Or Thurs

Τρι, 6 Μαΐου 2008 - 03:47

The Board of French state-controlled electricity giant Electricite de France SA (1024251.FR) will hold an extraordinary meeting on Wednesday, May 7, or Thursday, May 8, to put a final touch to the company's offer for 35.2% of U.K.-based energy company British Energy Group Plc (BGY.LN), French business daily La Tribune reported Tuesday, citing unspecified sources.

EDP Renewables Unit 1Q Net Pft EUR30.5M; Maintains IPO Plans

Τρι, 6 Μαΐου 2008 - 03:46

EDP Renovaveis, the renewable energy unit of Portuguese utility EDP-Energias de Portugal (EDP.LB) Tuesday reported a first-quarter net profit of EUR30.5 million net profit against a pro forma EUR6.4 million a year ago, reflecting partly lower financial costs.