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Nymex Crude Clears $96/Bbl; Turkey-Kurd Tension

NEW YORK (Dow Jones)--Crude oil futures soared past $96 a barrel to their highest level in nearly a month Wednesday, led by fears of a supply disruption from Turkish air strikes inside Iraq and a weaker dollar.

DJ Turkey Ctrl Bk: Cautious On Gas, Electricity Price Hikes-IHA

Turkey's central bank said Thursday it will act with caution due to the government's plans to raise electricity and natural gas prices, Ihlas news agency, or IHA, reported

Sofia to challenge EU regulations on carbon dioxide emissions

The Bulgarian government will make a legal challenge to a European Commission order to cut carbon dioxide emissions quotas for 2008-2012, Foreign Minister Ivaylo Kalfin said on Friday. “Bulgaria will launch court proceedings at the European Court of Justice as the decision to severely reduce our CO2 quota makes things very difficult for industry,” Kalfin told a press conference.

Iran gas may transit Greece

Iran and Italian power company Edison are nearing agreement on a deal to pump more than a billion cubic feet of Iranian gas to Europe per day, the Iranian oil minister said yesterday.“We have almost finalized our negotiations with the Italian company Edison,” Iranian Oil Minister Gholam Hossein Nozari told state television.

Enel set to expand in Romania and elsewhere, according to firm’s CEO

Italy’s power utility giant Enel has ended its expansion drive by acquisition and begun focusing on developing its operations in Romania and other countries where it has a presence, according to its chief executive. “The phase of the big expansion via acquisitions has come to an end with Endesa and OGK-5,” Fulvio Conti told the Borsa & Finanza weekly business newspaper, published on Saturday.

Russian Resources Min Slams Gazprom, TNK-BP Over Kovykta

MOSCOW (Dow Jones)--Russian Natural Resources Minister Yury Trutnev Monday accused the country's gas monopoly OAO Gazprom (GAZP.RS) and TNK-BP Holding (TNBP.RS) for not presenting the terms of the Kovykta gas field exploration.

Gazprom Considers Increasing Its Stake In TGK-1

MOSCOW (Dow Jones)--Russia's state-controlled gas monopoly OAO Gazprom (GAZP.RS) is considering increasing its stake in power generating company OAO TGK-1 (TGKA.RS), Interfax agency reported Monday, quoting Gazprom's chief executive Alexei Miller.

France's CEA Requires EUR6B From Areva Shr Sale

US Govt Disregarded Warnings On Pvt Security In Iraq

NEW YORK (Dow Jones)--The U.S. government disregarded numerous warnings over the past two years about the risks of using Blackwater Worldwide and other private security firms in Iraq, The Washington Post reports in its Monday edition, citing government officials, private security firms and documents.

U.S. Navy Monitoring Riots, Security In Bahrain

DUBAI (Zawya Dow Jones)--The U.S. Navy is monitoring "closely" the security situation in Bahrain after rioting in Shiite Muslim areas of the Persian Gulf monarchy, according to a Navy spokesperson.

Dolphin Energy Awards $200M Pipeline Contract To Salzgitter

DUBAI (Dow Jones)--Abu-Dhabi's Dolphin Energy Ltd. said it has awarded Germany's Salzgitter Mannesmann International a contract to build a gas pipeline to supply a new power plant in Fujairah on the East coast of the United Arab Emirates

ExxonMobil Kashagan Resolution Terms 'Risky'

ALMATY, Kazakhstan (Dow Jones)--Kazakh Energy Minister Sauat Mynbayev said Monday that U.S. ExxonMobil's (XOM) conditions to resolve a dispute over the giant Kashagan oil field was risky for Kazakhstan and differed from the rest of the Eni SpA-led (E) consortium, Interfax news agency reported.

Bulgaria’s Electricity Exports Sharply down

Bulgaria’s dominant power utility NEK said its electricity exports would be around 4.5 kilowatt-hours (kWh) this year, some 42 percent less than a year earlier but much more than previously expected.