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Bulgaria joint venture

Τετ, 20 Φεβρουαρίου 2008 - 04:43

Federal Development LLC, a Washington, DC-based real estate investment company, will set up a joint venture with Petrol Holding AD, majority owner of Bulgaria’s biggest fuel retailer. The two companies signed an agreement in Washington yesterday to create Federal Bulgaria Management AD. The project may invest as much as $3 billion over the next decade, according to the statement.

Turkish markets

Τετ, 20 Φεβρουαρίου 2008 - 04:42

Turkish assets traded sideways yesterday as investors awaited new market-moving data from the United States today and the publication of minutes from the US Federal Reserve’s last rate-setting meeting.

Heating fuel

Τετ, 20 Φεβρουαρίου 2008 - 04:39

The possibility of a strike by fuel distributors seemed to recede yesterday after representatives said the government had met its pledge to reimburse them with tax rebates due 24 hours ahead of the deadline. On Sunday, the Gasoline Station Owners’ Federation voted to shun the new system of heating fuel distribution, which was launched on Friday and is designed to fight illegal fuel trading, if the Finance Ministry failed to meet the three-day deadline. A number of distributors, however, still oppose the new system.

Croatia soon set to move on a liquefied natural gas terminal

Τετ, 20 Φεβρουαρίου 2008 - 04:37

Croatia should soon define a location for its Adriatic liquefied natural gas (LNG) terminal and sign an agreement with foreign partners to kick off its building, a top Croatian energy official said yesterday.

Heating Oil Market is Facing Shortages, but not a Strike

Τετ, 20 Φεβρουαρίου 2008 - 04:30

The heating oil market in Attica faced some serious supply problems yesterday, making it particularly difficult for those who defied forecasts and the threats from suppliers and had not filled their tanks in advance.

Russian Min, EdF May Enter Inter RAO Cap - Vedomosti

Τετ, 20 Φεβρουαρίου 2008 - 03:32

Ministry of Industry and Energy has offered energy giant Electricite de France (1024251.FR), or EdF, participation in the capital of Inter RAO, the newspaper Vedomosti reported Wednesday.

IEA, Confluence of Fundamentals Behind $100 Oil; Mkt Tight

Τετ, 20 Φεβρουαρίου 2008 - 03:30

Oil's record close above $100 a barrel shows that oil market fundamentals remain tight and there is a need for more supplies, an official from the International Energy Agency said Wednesday.

EdF CEO Says Many Scenarios, Protagonists For Any Spain Bid

Τετ, 20 Φεβρουαρίου 2008 - 03:27

French utility Electricite de France (1024251.FR) sees "many scenarios and many protagonists" for a possible bid to enter Spain's energy market, Chief Executive Pierre Gadonneix said Wednesday.

Iberdrola Chmn Says Company Aims To Remain Independent>IBE.MC

Τετ, 20 Φεβρουαρίου 2008 - 03:26

Spain's Iberdrola SA (IBE.MC) has standalone appeal and is looking to remain independent, despite recent speculation that a bid was imminent from rival Electricite de France (1024251.FR), Iberdrola Chairman Ignacio Galan said Wednesday.

EdF CEO Confirms Interest In Suez Unit Distrigas

Τετ, 20 Φεβρουαρίου 2008 - 03:25

French utility Electricite de France SA (1024251.FR) Chief Executive Pierre Gadonneix Wednesday confirmed the company is interested in buying Belgian unit Distrigas SA (DIST.BT) from Suez (SZE.FR.)

OPEC Governors Chmn: Too Soon To Decide On Output

Τετ, 20 Φεβρουαρίου 2008 - 03:24

It is still early to decide whether the Organization of the Petroleum Exporting Countries will need to change its current oil output at its next meeting, the chairman of OPEC's board of governors said Wednesday.

Gazprom Gets 2 Licenses For Kyrgyz Gas Exploration

Τετ, 20 Φεβρουαρίου 2008 - 03:22

Russian gas monopoly OAO Gazprom (GAZP.RS) has received two licenses for natural gas exploration in southern Kyrgyzstan and will invest up to $300 million in these projects, Interfax news agency reported Wednesday citing the Kyrgyz prime minister and Gazprom's chief executive.