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Syria Oil Output Dives To 5% Of Pre-war Level

Τετ, 29 Μαΐου 2013 - 19:22

Syria's oil production has crashed to 20,000 barrels a day, or 5% of its pre-war output, Oil Minister Sleiman Abbas said, quoted on Wednesday in the ruling party's Al-Baath daily. "The terrorism of armed groups (rebels) and the unjust (Western) embargo imposed on Syria" were to blame for the collapse, he told a session of parliament

Saudi Oil Minister: OPEC to Discuss Secretary-General Selection Criteria

Τετ, 29 Μαΐου 2013 - 19:18

Saudi oil minister Ali al-Naimi said oil prices are at a suitable level for oil producers and consumers, the Saudi Press Agency reported Wednesday. "The situation in the international oil market at present is characterized by stability and balance of supply, demand and commercial inventories," Mr. Naimi said. Oil "prices are at the level suitable for producing and consuming nations and the petroleum industry."

E.ON Romania Threatens To Pull Green Energy Projects if Subsidies Are Cut

Τετ, 29 Μαΐου 2013 - 19:13

The chief executive of E.ON Romania, the local unit of German utility E.ON AG (EOAN.XE), Wednesday said the company will abandon its green energy projects unless the government reconsiders its plan to reduce subsidies, news agency Mediafax reports. "It all depends on whether the law on supporting renewable energy is changed. If the law is modified, then we give up [our projects]," Frank Hajdinjak told a news conference

IENE Convenes Working Group Meeting in Sofia on Nuclear Energy

Τετ, 29 Μαΐου 2013 - 18:39

An IENE Working Group, consisting of experts from Bulgaria and Greece, met today (May 29) in Sofia, to examine the role of nuclear energy for power generation in SE Europe. A review was conducted of the latest developments in nuclear related projects and initiatives focusing on Bulgaria, Romania and Turkey. In spite of the setback on their nuclear plans suffered by certain European countries, following the Fukushima disaster in March 2011, enthusiasm for nuclear electricity has not waned in the SE European region

EU Authorities Signal Decision to Proceed With Planned Tariffs Against China Solar-Panel Makers

Τρι, 28 Μαΐου 2013 - 19:36

European Union trade authorities Monday signaled they would push ahead with a plan to impose import tariffs on solar panel equipment made in China, despite heavy lobbying from Beijing that appeared to be weakening support for the duties among EU member governments

EU's Almunia: Oil Price Manipulation Would Have Caused ΄Huge Damages΄

Τρι, 28 Μαΐου 2013 - 19:32

Any confirmed manipulation of oil prices would have caused "huge" damages for consumers and the case has similarities to the Libor benchmark scandal, the European Union's top antitrust regulator said Tuesday. EU antitrust authorities carried out unannounced inspections of energy companies BP PLC (BP), Royal Dutch Shell PLC (RDSA) and Statoil ASA (STO) this month as part of a probe into whether they manipulated prices in the $2.5 trillion physical-oil market by giving false data to an oil index publisher, the Platts unit of McGraw Hill Financial Inc. The offices of Platts were also inspected

Eni Reaches Deal With Sonatrach on Gas Contracts

Τρι, 28 Μαΐου 2013 - 19:27

Italy's leading energy company by market value, Eni (E), and Algerian state-owned energy group Sonatrach have reached a deal on the revision of some conditions of their gas supply contracts for 2013 and 2014, Eni said Tuesday. Under the agreement, "Eni and Sonatrach will reduce certain quantities of the contractual gas volumes delivered into Italy," Eni said in a statement, without providing additional details

GDF Suez Buys Stake in Nabucco West Pipeline Consortium

Τρι, 28 Μαΐου 2013 - 19:22

The French utility GDF Suez S.A. (GSZ.FR) has bought around 9% in the proposed gas pipeline project Nabucco West from Austrian oil and gas company OMV AG (OMV.VI), OMV said Tuesday. With the purchase, GDF Suez replaces German utility company RWE AG (RWE.XE), which sold its 17% share in the pipeline to OMV--one of the main shareholders of the proposed pipeline--in April for an undisclosed sum

Russia's Sintez Not To Bid For Greece's DEPA, May Bid For DESFA

Δευ, 27 Μαΐου 2013 - 19:12

Russia's Sintez Group will not bid for Greek gas company DEPA, but may bid for its gas-network operator, DESFA, Sintez said Monday. Sintez was one of two Russian companies, alongside state gas giant OAO Gazprom (GAZP.RS) that showed initial interest in DEPA. But Sintez, controlled by Russian tycoon Leonid Lebedev, said in a statement Monday it is only considering a bid for DESFA

Iran To Host 'International' Conference On Ally Syria

Δευ, 27 Μαΐου 2013 - 19:05

Iran will host on Wednesday an international forum to help find a "political solution" for the conflict in ally Syria, the foreign ministry said, as France, the U.S. and Russia push for their own peace conference. "More than 40 countries and a representative of former U.N. Secretary General Kofi Annan are expected to attend," deputy foreign minister, Hossein Amir Abdollahian, on Monday told Al-Alam Arabic-language television

7th S.E. Europe Energy Dialogue Programme Announced

Δευ, 27 Μαΐου 2013 - 18:59

The Institute of Energy for SE Europe (IENE) has announced the detailed programme of the “7th S.E. Europe Energy Dialogue”, which will be held in Thessaloniki at the MET Hotel on June 19 – 20, 2013. As in past years, IENE’s annual Energy Dialogue conference is being organized in association with the World Energy Council (WEC). This year, the Energy Dialogue will focus on «The New Regional Parameters» vis-a΄ - vis the latest developments of the evolving natural gas and electricity markets of the region, as well as the ever deepening energy partnerships of on S.E. European countries with the Caspian Sea, the East Mediterranean, the Middle East and North Africa

OPEC Divided Over US Oil Boom

Δευ, 27 Μαΐου 2013 - 18:58

The Organization of the Petroleum Exporting Countries may be heading for a new internal clash--this time over how it responds to the growing challenge from U.S. shale oil. Rising American output is rewriting global oil-trade patterns and deepening existing fault lines within the powerful exporters' group, limiting its ability to mount a collective response--including possible production cuts--ahead of a crucial meeting in Vienna Friday

EU Electricity, Gas Prices Soar in 2H 2012 Despite Economic Downturn

Δευ, 27 Μαΐου 2013 - 18:56

Energy prices in the majority of European Union states continued to rise in the second half of last year, mainly driven by higher tariffs and environmental surcharges, data released by Eurostat showed Monday, providing ammunition to those Europeans seeking changes to energy policy. The average household price for electricity in the 27-nation bloc rose by 6.6% in the second half of 2012 from the same period a year earlier. The rise was 6.3% in the latter half of 2011. Prices rose in all countries except Hungary, where the government has capped regulated power prices, and in Finland and Sweden

Crude Futures Trade Lower ahead of Three-Day Weekend in US, UK

Παρ, 24 Μαΐου 2013 - 18:33

Oil prices were lower Friday as traders stayed cautious after U.S. Federal Reserve Chairman Ben Bernanke's testimony earlier this week. At 1008 GMT, Brent crude for July delivery on the ICE futures exchange traded lower, down 7 cents at $102.37 a barrel. Light, sweet crude for July delivery traded lower by 38 cents, or 0.4%, at $93.87 a barrel on the New York Mercantile Exchange

North Korean Envoy Meets China President

Παρ, 24 Μαΐου 2013 - 18:22

A North Korean envoy gave Chinese President Xi Jinping a handwritten letter from Kim Jong Un on Friday and said Pyongyang wanted to solve diplomatic issues through dialogue, Chinese state media reported, a high-level move that appeared aimed at assuaging Beijing's concerns about the volatile state's actions in order to secure vital continued economic support

Iran Hacks Energy Firms, U.S. Says

Παρ, 24 Μαΐου 2013 - 18:18

Iranian-backed hackers have escalated a campaign of cyberassaults against U.S. corporations by launching infiltration and surveillance missions against the computer networks running energy companies, according to current and former U.S. officials. In the latest operations, the Iranian hackers were able to gain access to control-system software that could allow them to manipulate oil or gas pipelines. They proceeded "far enough to worry people," one former official said