English Edition

Gazprom: Won't Bid For Mosenergosbyt At Proposed Valuation

Russian gas monopoly OAO Gazprom won't bid for a 50.9% stake in electricity distributor OAO Mosenergosbyt (MSSB.RS) at the proposed valuation rate for the whole company of $1.3 billion, Gazprom unit Mezhregiongaz told Dow Jones Newswires Wednesday.

UAE Finance Min, UAE, GCC Study $ Pegs Amid Eco Uncertainty

The United Arab Emirates, the Persian Gulf's second-largest Arab economy, is studying whether to maintain its current exchange rate policy of pegging the dirham to the U.S. dollar, the country's finance minister said.

Exmar, RWE Interested In Distrigas Stake

Belgian gas shipping company Exmar NV (EXM.BT) is interested in taking over Distrigas, the gas transportation unit being sold by Suez (SZE), de Tijd reports.

Polish PGNiG Board To Select New CEO, Mgmt Team Wed

Polish state-controlled gas monopoly Polskie Gornictwo Naftowe i Gazownictwo (PGN.WA) is expected to get a new five-member management team after the company's supervisory board completes its selection process Wednesday, the daily Gazeta Prawna reports.

MOL Transfers Treasury Shares To Oman Oil Company

Hungarian oil and gas company MOL Nyrt. (MOL.BU) said Wednesday that, as part of the strategic alliance with Oman Oil Company S.A.O.C announced March 10, MOL transferred 8,774,040 pieces of A" series MOL shares to Oman Oil Budapest Limited, a subsidiary of Oman Oil Company S.A.O.C on March 12.

Turkey's Tupras To Invest $1.6 Bln In Fuel Project

EU To Get List Of Distrigaz Bidders Before Month End

Suez SA (SZE) and Gaz de France (1020848.FR), two French power companies in the process of merging, are planning to submit the list of bidders of Belgian gas operator Distrigaz to the European Commission before the end of the month, La Tribune reported.

Malaysia's Biodiesel Exports To EU Hampered By High Costs

Malaysia's biodiesel exports to the European Union nearly doubled to 24,696 metric tons in 2007 from 12,598 tons a year earlier, but absolute numbers continued to remain low due to high prices of the feedstock crude palm oil, said a government official.

Greece’s Power Deficit

Greece’s electric power grid seemed to be flirting with a general blackout last week, as over a third of productive capacity went out of action as a result of the strike at the Public Power Corporation (PPC).

Terna 07 Net Pft +6.4% To EUR413.9M; Div At EUR0.151

Terna SpA (TRN.MI), Italy's biggest power grid by capacity, said Tuesday that net profit in 2007 rose 6.4% on the year, better than expected, thanks to efficiency measures and cost cutting.

Russian Min To Visit Mideast To Stem Degrading Conditions

Russia's foreign minister will head to the Middle East next week to help stem growing violence in the region and "degrading conditions" between Israel and the Palestinians, a Foreign Ministry official said Tuesday.

Hungary To Transform Power Wholesaler For Lower Prices, Sale

Hungarian Prime Minister Ferenc Gyurcsany Tuesday ordered Finance Minister Janos Veres to transform state-owned power wholesaler Magyar Villamos Muvek Zrt. to prepare it for privatization and eventually lower electricity prices, a government spokesman said.

Endesa, Open Auction Possible If No Price Agreed On E.ON Deal

Endesa SA (ELE.MC) may start an open auction for a large portfolio of European assets if it doesn't reach an agreement with Germany's E.ON AG (EOA.XE) over its final price, a top official of the Spanish power company said Tuesday.