English Edition

Rompetrol's Rominserv Inks $1B Deal To Upgrade Kazakh Pavlodar Refinery

Πεμ, 1 Αυγούστου 2013 - 19:29

Rominserv Valves Iaifo Zalau, the general contractor of Romania's second-largest oil group Rompetrol, was awarded a $1.07 billion contract to modernize and upgrade the Pavlodar refinery in Kazakhstan, Rompetrol said in a statement Thursday, news agency Mediafax reports

Eni Says Kashagan Field to Start Output by End of September

Πεμ, 1 Αυγούστου 2013 - 19:29

Eni SpA (E) said it expected the Kashagan field in Kazakhstan to start output by the end of the September with a daily output of 75,000 barrels of oil, a top official of the Italian energy company said Thursday

Cyprus National Hydrocarbons Company Vice President Solon Kasinis Ηas Ρesigned

Πεμ, 1 Αυγούστου 2013 - 16:36

Cyprus’ National Hydrocarbons Company (KRETYK) Vice President Solon Kasinis has resigned, He met Wednesday with the President of the Republic Nicos Anastasiades to whom he explained the reasons that led him to his decision to resign his position. In statements to CNA, Kasinis said that he had a frank conversation with the President, which lasted about 50 minutes

Enel Green Power Net Profit Jumps on New Output; Confirms Targets

Τετ, 31 Ιουλίου 2013 - 19:19

Enel Green Power SpA (EGPW.MI), one of world's biggest renewable energy companies by market value, Wednesday said its first-half net profit rose 22% on the year, in line with expectations, thanks to higher revenue from new production. Chief Executive Francesco Starace of Enel Green Power, which is controlled by Enel SpA (ENEL.MI), confirmed the 2013 targets.

EIA: Crude Oil Stocks Rise 431,000 Barrels in Latest Week

Τετ, 31 Ιουλίου 2013 - 19:13

U.S. crude inventories rose against expectations in the week ended July 26, according to data released Wednesday by the Energy Information Administration unit of the U.S. Department of Energy. Crude oil stockpiles gained 431,000 barrels to 364.6 million barrels, compared with an average survey estimate of a drop of 1.3 million barrels. Gasoline stockpiles rose 770,000 barrels, to 223.5 million barrels, the EIA said in its weekly report. Analysts surveyed by Dow Jones Newswires expected a drop of 700,000 barrels

Libya Oil Exports Plunge As Protesters Block Terminals

Τετ, 31 Ιουλίου 2013 - 19:08

Libyan oil exports have plunged by more than 70 percent after protesters forced the closure of shipping terminals, Prime Minister Ali Zeidan said Wednesday. "Groups closed the ports of Ras Lanouf, Zueitina, Al-Sedra and Al-Hariga [Tuesday], forcing a drop in production to less than 30 percent" of normal levels, Zeidan told a press conference in the capital.

China-EU Solar Panel Agreement Avoids Tariffs with Import Curbs

Τρι, 30 Ιουλίου 2013 - 18:52

European Union and Chinese negotiators reached an agreement to curb EU imports of solar panels from China in exchange for exempting the shipments from punitive tariffs. The accord would set a minimum price for imports of the renewable-energy technology from China. In return, Chinese manufacturers would be spared EU levies meant to counter below- cost sales, a practice known as dumping

ΒP Prepares For Long Fight In Civil Oil Spill Trial -CEO

Τρι, 30 Ιουλίου 2013 - 18:42

BP PLC (BP.LN) is less likely to negotiate a settlement in a civil trial to determine environmental fines for the 2010 Gulf of Mexico oil spill, in the wake of spiraling costs from a separate deal clinched last year to compensate businesses for losses stemming from the disaster, the company's chief executive said Tuesday. "It's highly unlikely we are now going to enter into some sort of detailed settlement discussions. Unfortunately, some of the circumstances that are happening today suggest that it may be in the best interests of our shareholders now to play it long," said BP CEO Bob Dudley at a press conference

Russia Anti-Monopoly Service OKs Rosneft Acquisition of Alrosa Gas Assets

Τρι, 30 Ιουλίου 2013 - 18:40

Russia's federal anti-monopoly service has approved state oil giant OAO Rosneft's (ROSN.RS) acquisition of diamond miner Alrosa Co Ltd.'s (ROSA.RS) gas assets, Russian news agencies reported Tuesday. Rosneft, the world's largest listed crude-oil producer, has said it is aiming to increase gas production and recently bought out its partner in gas company Itera Oil and Gas

EDF Ups Performance Targets As 1H Earnings Boosted By Weather

Τρι, 30 Ιουλίου 2013 - 18:23

French state-controlled power group Electricite de France SA (EDF.FR) Tuesday raised its performance target for the year and reiterated its full-year financial guidance as it posted a 3.8% increase in recurring net profit to EUR3.07 billion from EUR2.96 billion a year earlier, thanks to favorable weather conditions mostly

BP, SOCAR, Total and Fluxys Join the TAP Project

Τρι, 30 Ιουλίου 2013 - 13:15

The Trans Adriatic Pipeline AG (TAP) today announced that BP, SOCAR and Total - members of the international consortium developing the giant Shah Deniz field in Azerbaijan - have exercised their option to join the Trans Adriatic Pipeline AG

OPEC's Oil Exports Revenue Breaks New Record But Split Deepens

Δευ, 29 Ιουλίου 2013 - 19:19

Revenue from petroleum exports in the Organization of the Petroleum Exporting Countries broke a new record in 2012 but the earnings of some members are declining amid higher budgetary needs, underscoring a deepening rift between producers benefiting from higher oil prices and those who don't

Athabasca Awaits Regulator's Decision on Oil Sands Sale

Δευ, 29 Ιουλίου 2013 - 19:10

Athabasca Oil Corp. (ATHOF, ATH.T) investors are focused this week on a crucial regulatory decision for the company's Dover oil sands project that would trigger a sale of its interest and generate C$1.3 billion ($1.26 billion)--proceeds needed to fund other operations