English Edition

Gas-To-Liquids Industry Hits Doldrums Despite $97 Oil

Πεμ, 8 Νοεμβρίου 2007 - 06:20

As oil prices threaten to hit $100 a barrel and governments seek to introduce ever-tighter controls on air pollution, a cheaper alternative resource that can be turned into less-polluting road fuels should look like a winner.

Dollar Falls to Record Low over China Worries

Πεμ, 8 Νοεμβρίου 2007 - 02:56

The dollar slumped to a record low against the euro after Chinese officials signaled plans to diversify the nation's $1.43 trillion of foreign-exchange reserves in response to a falling U.S. currency.

Turkish Sabanci Eyes Foreign Energy Partnerships

Πεμ, 8 Νοεμβρίου 2007 - 02:49

Sabancı Holding, which began collaborating with Austria's largest electricity company Verbund in Enerjisa, has given the green light to foreign investors for partnership ventures in nuclear energy. Sabancı Holding formed a group presidency within its body last year by including energy among the company's strategic sectors. The company is now preparing to sign a foreign partnership agreement on nuclear energy.

Greece’s Public Works Funding Plan Gets Approval

Πεμ, 8 Νοεμβρίου 2007 - 02:31

The Environment and Public Works Ministry announced yesterday the approval of its proposals for the European Union subsidy period of 2007-2013. The program totals 4.3 billion euros and includes 11 fields of action and major project proposals. Minister Giorgos Souflias said that it had been approved by the EU without any amendments. This opens the way for the projects’ tenders, with the relevant documents already submitted to the ministry.

Greece’s Refiners Earnings Results Mixed

Πεμ, 8 Νοεμβρίου 2007 - 02:26

Hellenic Petroleum, Greece’s largest oil refiner, said yesterday nine-month net profit rose 3 percent, above market forecasts, boosted by foreign exchange gains. By contrast Motor Oil posted a drop in its nine-month profitability.

Greek -Turkish Gas Pipeline to Open Nov 18

Τετ, 7 Νοεμβρίου 2007 - 19:30

Turkish Energy Minister Hilmi Guler said yesterday the official opening of the natural gas pipeline linking Turkey and Greece will take place on November 18, in the presence of the two countries’ prime ministers.

PPC to Invest 1.95 Bln in Renewable Energy

Τετ, 7 Νοεμβρίου 2007 - 19:28

The Public Power Corporation, Greece’s biggest electricity company, plans to build a total 950 megawatts of renewable energy units by 2014.

Kazakh Min: May Seek Full Halt at Kashagan by Nov. 22

Τετ, 7 Νοεμβρίου 2007 - 19:27

The Kazakh Ecology will demand a complete stop to work at the giant Kashagan oil field if operator Agip KCO doesn't fix environmental violations by Nov. 22, Kazakhstan Today news agency reported Ecology Minister Nurlan Iskakov as saying Tuesday.

Greece’s Illegal Fuel Trade out of Control

Τετ, 7 Νοεμβρίου 2007 - 03:33

One August night on the outskirts of Elefsina, a young man was working feverishly next to a parked truck. He was diverting fuel from an underground petroleum pipeline – Hellenic Petroleum (ELPE)’s main pipeline linking the Aspropyrgos Refinery with the installations at Elefsina – into the truck with the help of a hose and pressure meter. Suddenly, a team of Western Attica police descended on him.

Keystone,MOL Confirm Iraqi Kurd Oil Exploration Deals

Τετ, 7 Νοεμβρίου 2007 - 03:23

U.K.-listed independent oil company Gulf Keystone Petroleum Ltd Wednesday confirmed it had signed two deals to drill for oil in Iraqi Kurdistan along with a subsidiary of Hungary's MOL Nyrt.

Italy OKs 1st Pwr Merchant Line, To Import Swiss Electricity

Τετ, 7 Νοεμβρίου 2007 - 03:20

The Italian Industry Ministry late Tuesday approved the country's first power merchant line that will allow for electricity to be imported from Switzerland as Italy seeks to boost its energy security. The ministry said it gave the go-ahead for the construction of the power line with a capacity of 150 megawatts linking Campocologno in Switzerland and Tirano in Italy.

MOL, CEZ To Build Two 800MW Plants In JV - Newspaper

Τετ, 7 Νοεμβρίου 2007 - 03:09

Hungarian oil and gas company MOL Nyrt. and Czech energy firm CEZ AS are to build two generators with an 800 megawatt capacity each in a joint venture, MOL Chief Financial Officer Jozsef Molnar said at a conference, as reported in business daily Napi Gazdasag.

Nord Stream Construction Delayed By 6 Months - Report

Τρι, 6 Νοεμβρίου 2007 - 07:21

The Nord Stream gas pipeline project between Russia and Germany has been delayed by six months, Interfax news agency reported Tuesday citing the project's technical director Sergei Serdukov. Construction of the pipeline, which is led by Russia's OAO Gazprom (GAZP.RS), will now begin in June 2009 and the first gas will be delivered on Nov. 30, 2010, two months later than initially planned, Serdukov told journalists.