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Enel, Dolomiti Energia To Develop Hydro Power In Italy

Τετ, 14 Νοεμβρίου 2007 - 03:31

Italian electricity utility Enel SpA said Wednesday it signed a memorandum of understanding with Dolomiti Energia to create a new company to supply hydroelectric power in the Alpine province of Trento in northern Italy

OPEC Secy Gen: Doesn't See Need For OPEC To Add More Oil

Τετ, 14 Νοεμβρίου 2007 - 03:21

There's no need for the Organization of Petroleum Exporting Countries to add more oil to the market, the group's secretary general said Wednesday.

BP Announces Gas Discovery In Azerbaijan

Τετ, 14 Νοεμβρίου 2007 - 03:19

BP said Wednesday it has made a major gas discovery in Azerbaijan's Shah Deniz Field. It said the SDX-04 appraisal and exploration well, some 70 kilometres south east of Baku, discovered a new high pressure reservoir in a deeper structure below the currently producing reservoir.

Russia's Oil Companies Reap Little Benefit from High Prices

Τρι, 13 Νοεμβρίου 2007 - 03:42

Despite high crude prices Russian oil production growth may be damped because the country's tax regime deprives producers of the bulk of export revenues while rising costs mean companies struggle to invest in new fields.

Edison to Boost International Investment in New Growth

Τρι, 13 Νοεμβρίου 2007 - 03:38

Edison SpA, one of Italy's top energy companies, plans to expand its international and upstream investments in its new growth plan as it seeks to become independent of its biggest rival for gas supplies, Chief Executive Umberto Quadrino said Monday.

OPEC To Look At Fundamentals Before Deciding On Output -Press

Τρι, 13 Νοεμβρίου 2007 - 03:29

The Organization of Petroleum Exporting Countries will take into account oil market fundamentals before taking any decision on output levels when it meets in Abu Dhabi in December, OPEC President Mohamed Al Hamli said Tuesday.

Italy To Present New EU CO2 Plan At End-Nov -Govt Official

Τρι, 13 Νοεμβρίου 2007 - 03:20

Italy will present to the European Commission the new 2008-2012 carbon emissions plan at the end of the month, said Corrado Clini, director general at the country's Environment Ministry, on Tuesday.

Eni CEO: Sees Algeria, Russia As Pillars Of EU Energy Needs

Τρι, 13 Νοεμβρίου 2007 - 03:15

Algeria and Russia will become key energy suppliers to the European Union as it becomes more dependent on natural gas to meet its energy needs, the chief executive of Italian oil major Eni said Tuesday.

IEA Sees Signs High Oil Prices Starting to Hit Demand

Τρι, 13 Νοεμβρίου 2007 - 03:09

There are signs that super high crude oil prices have started to depress oil demand as drivers in the world's industrialized nations start to feel the pain of almost $100 oil, the International Energy Agency said Tuesday in its monthly oil market report.

Greece's Budget to Include New Oil Price Hikes

Τρι, 13 Νοεμβρίου 2007 - 03:03

The Economy Ministry is counting the impact of soaring international oil prices on the local economy, particularly inflation and growth, in order to incorporate them in the budget draft to be tabled in Parliament next week

Credibility of Greece's Reformist Agenda Dented by the Delays in PPC

Τρι, 13 Νοεμβρίου 2007 - 03:00

If the Greek government wanted to send the strongest signal ever about its determination to revitalize the economy through reforms, the first candidate on the list should have been the Public Power Corporation (PPC). It is the state-controlled company with the strongest labor union and biggest assets in the country. However, events in the last two weeks show this does not appear to be the case.

Greece's PPC To Retain 100% Control Of Plants Under RWE Deal

Δευ, 12 Νοεμβρίου 2007 - 07:39

Public Power Corp. SA said over the weekend that it will retain 100% ownership of renewed power plants under a cooperation deal, denying press reports that it will cede management control of a majority stake of new plants to Germany's RWE AG.

Iraq Kurds Award Oil Deals To TNK-BP,Sterling,KNOC Cos-Source

Δευ, 12 Νοεμβρίου 2007 - 07:37

Iraq's Kurdish Regional Government Monday will unveil the award of five new oil deals, with awardees including units of TNK-BP , Sterling Energy PLC and Korea's National Oil Corp., or KNOC, a person familiar with the announcement said.