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Exxon Sees Rising CO2 Emissions Despite More Renewable Fuels

Exxon Sees Rising CO2 Emissions Despite More Renewable Fuels

Τρι, 6 Νοεμβρίου 2007 - 07:13

It's hardly surprising that Exxon Mobil Corp. (XOM) forecasts continued steady growth in petroleum demand for decades to come. But the oil giant also sees alternative sources of energy rapidly expanding their share of the market, even if they require a big push in the form of government subsidies and legislation.

Gasunie Joins Nord Stream; Gazprom Gets BBL Option

Gasunie Joins Nord Stream; Gazprom Gets BBL Option

Τρι, 6 Νοεμβρίου 2007 - 07:05

OAO Gazprom (GAZP.RS) Tuesday said Nederlandse Gasunie N.V. would join the Nord Stream pipeline project in a deal that could give the Russian gas monopoly a bigger role in the European market.

Oil at $100 Barrel Likely A Short-Term Gain For Russia

Oil at $100 Barrel Likely A Short-Term Gain For Russia

Τρι, 6 Νοεμβρίου 2007 - 07:00

Russia will cash in if oil prices continue to surge but any windfall would likely mean the country suffering its corollary - rising inflation. Should the price hit $100 a barrel as oil analysts are widely predicting - Tuesday Brent-blend benchmark was $92 - the country's Stabilization Fund, which amasses windfall oil revenue, would be boosted to more than 4 trillion rubles ($162 billion). While that creates new wealth and strengthens President Vladimir Putin's hand on the world stage, longer term the massive accumulation of windfall oil money can create a lethal combination of inflationary pressures and speculative capital that could threaten economic stability.

Hungarian MOL Buys 40% Stake in Cameroon Oil Fiield

Hungarian MOL Buys 40% Stake in Cameroon Oil Fiield

Τρι, 6 Νοεμβρίου 2007 - 06:32

Hungarian oil and gas company MOL Magyar Olaj- es Gazipari Nyrt.said Tuesday that it signed a sales and purchase agreement with Tullow Oil Plc. to acquire Tullow's 40% non-operated interest in the Ngosso Permit, offshore Cameroon Nov. 5, 2007.

Oil Falls as Citi Woes Revives Credit Concerns

Oil Falls as Citi Woes Revives Credit Concerns

Δευ, 5 Νοεμβρίου 2007 - 06:15

Oil fell back sharply on Monday after a warning by top bank Citigroup of more write-downs related to risky U.S. mortgages heightened concern over the economic health of the world's biggest fuel consumer. U.S. light crude dropped $1.14 a barrel to $94.79 by 7:50 a.m. EST. It hit a record of $96.24 on Nov 1. London Brent crude lost $1.13 to $90.95.

Terna Energy Completes IPO Successfully

Terna Energy Completes IPO Successfully

Δευ, 5 Νοεμβρίου 2007 - 05:47

Terna Energy initial public offering was covered more than three times, the company said. The offer was completed on Friday. Terna’s offering was for 30.6 million shares while the price was set at 11 euros per share. Total proceedings reached 330/7 million euros.

Russia in Ukraine Refinery Spat

Russia in Ukraine Refinery Spat

Δευ, 5 Νοεμβρίου 2007 - 04:45

Russia says the armed seizure of a Ukrainian oil refinery in which it has a stake is a "flagrant outrage". Russian First Deputy PM Sergei Ivanov accused Kiev of "inaction" after a former head of the Kremenchuk refinery, backed by armed guards, was reinstated.