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Siemens CEO: Germany Needs to Adjust Energy Reform Plans

Siemens CEO: Germany Needs to Adjust Energy Reform Plans

Germany needs to adjust its plans for energy reform to save around 150 billion euros ($196.2 billion) by the year 2030, the chief executive of industrial conglomerate Siemens AG (SI) said Wednesday.

Chinas CNOOC Eyes First Foray Into Offshore Arctic Oil Drilling

China's CNOOC Eyes First Foray Into Offshore Arctic Oil Drilling

China National Offshore Oil Corp. (CEO), or Cnooc, is partnering with Iceland's Eykon Energy in an application for a license to explore and produce oil and gas in Arctic waters offshore Iceland, the country's hydrocarbon licensing manager told Dow Jones Newswires Wednesday.

IMF Set to Admit Major Missteps in Greece

IMF Set to Admit Major Missteps in Greece

In a critical assessment of its own handling of the euro-zone financial crisis, the International Monetary Fund is set to publicly admit to major missteps in the bailout of Greece, the recipient of one of the institution's largest-ever rescue packages and the spark for a wider debt crisis across Europe.

The State of the Mediterranean Marine and Coastal Environment report presented in Athens

The State of the Mediterranean Marine and Coastal Environment report presented in Athens

Under the auspices and in the presence of his Excellency Pr. Evangelos Livieratos, Minister of Environment, Energy and Climate Change and on the occasion of Environment Day, the Hellenic Ministry of Environment, Energy and Climate Change and the United Nations Environment Programme/Mediterranean Action Plan (UNEP/MAP) held a presentation ceremony of the State of the Mediterranean Marine and Coastal Environment Report today.

Romania Temporarily Scales Back Green Energy Incentives

Romania Temporarily Scales Back Green Energy Incentives

The Romanian government said it decided on Tuesday to temporarily suspend as of July 1 the issuance of some of the green certificates for which hydro, wind and solar energy producers are eligible in a bid to reduce the price of electricity for final consumers.

Gazprom 2013 Retroactive Discounts at Less Than $1B

Gazprom 2013 Retroactive Discounts at Less Than $1B

Russia's state-run gas company, OAO Gazprom (GAZP.RS), expects retroactive discounts to European buyers for 2013 to amount to less than $1 billion, the company's deputy chief executive said Tuesday.

EU to Delay Full Tariffs on China Solar Panels

EU to Delay Full Tariffs on China Solar Panels

The European Union will delay for two months the full impact of import tariffs it planned to put on Chinese solar panel equipment, to allow Chinese manufacturers to negotiate a settlement with European authorities that could defuse one of the biggest disputes over unfair trade in recent decades, officials said Tuesday.

Romania Cuts Incentives for Green Energy

Romania Cuts Incentives for Green Energy

Romania's center-left government on Tuesday adopted a decree cutting incentives to renewable energy producers, which experts say will deter investment in a booming industry.

EURELECTRIC Award 2013 honours IEA Chief Economist, Dr Fatih Birol

EURELECTRIC Award 2013 honours IEA Chief Economist, Dr Fatih Birol

This year's EURELECTRIC Award goes to Dr. Fatih Birol, Chief Economist of the International Energy Agency (IEA), for his outstanding contribution to improving understanding of the opportunities and challenges facing the power sector. The winner was announced at the EURELECTRIC Annual Convention in Bologna today.

Greece Announces Plan to Setup a National Hyrdocarbon Company

Greece Announces Plan to Setup a National Hyrdocarbon Company

Greece's Prime Minister Antonis Samaras on Tuesday announced plans for setting up a "national hydrocarbon company" to prospect for natural gas and oil deposits in the Aegean and Ionian seas reports Kathimerini.

Total CEO Sees More European Refineries Closing in Coming Years

Total CEO Sees More European Refineries Closing in Coming Years

More European refineries, including some in France, are likely to shut down in the coming years, as refined-oil products consumption is falling in the region, Total SA (TOT, FP.FR) Chairman and Chief Executive Christophe de Margerie said Sunday.