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Rosneft to Pay RUB5.4B for 12 Arctic Shelf Licenses - Regulator

Rosneft to Pay RUB5.4B for 12 Arctic Shelf Licenses - Regulator

Russian state-owned oil giant Rosneft (ROSN.RS) will pay about 5.4 billion rubles ($179.8 million) for 12 exploration licenses on the Arctic shelf, Russian regulator Rosnedra said on its website Wednesday.

Bulgarias Bulgargaz Plans Expansion

Bulgaria's Bulgargaz Plans Expansion

Dimitar Gogov, CEO of state-owned gas supplier Bulgargaz, has said that the company is gearing up for expansion on gas markets.

BP Fourth Quarter Profit Falls 72% On Gulf Fines, Lower Output

BP Fourth Quarter Profit Falls 72% On Gulf Fines, Lower Output

BP PLC (BP.LN) Tuesday posted a 72% drop in profit for the fourth quarter, as its production fell due to asset sales and it agreed to pay billions of dollars in fines to the U.S. government to settle criminal charges over the Deepwater Horizon oil spill.

OPEC Production Eases Slightly In January On Libya Disruption-Survey

OPEC Production Eases Slightly In January On Libya Disruption-Survey

Crude oil output from the Organization of the Petroleum Exporting Countries fell slightly in January as some Libyan output was disrupted and the Saudis kept their supply at lower levels, according to a Dow Jones Newswires survey of industry sources and analysts.

Colombias January Oil Output Surpasses 1 Million-Barrel-a-Day Mark

Colombia's January Oil Output Surpasses 1 Million-Barrel-a-Day Mark

Colombia said it produced an average of 1.01 million barrels of oil per day in January, marking the first time that average crude output for a month surpassed the one million-barrel mark that the government had set as a target for the country's oil industry.

Russia Sees Gasoline Prices Rising 13%-14% in 2013

Russia Sees Gasoline Prices Rising 13%-14% in 2013

Gasoline and diesel prices in Russia will increase on average 13%-14% in 2013, Russian newswires cited Energy Ministry Alexander Novak as saying Tuesday.

EU Clears UK GBP600M Green Deal Aid for Energy Efficiency

EU Clears UK GBP600M Green Deal Aid for Energy Efficiency

The European Union's antitrust authorities cleared Tuesday the 600 million pound ($943 million) aid that the U.K. is giving to private companies to boost investments and improve the energy efficiency of buildings.

Electric Cars Head Toward Another Dead End

Electric Cars Head Toward Another Dead End

Recent moves by Japan's two largest automakers suggest that the electric car, after more than 100 years of development and several brief revivals, still is not ready for prime time - and may never be.

German Economics Ministry Criticizes Energy Ministers Plan

German Economics Ministry Criticizes Energy Minister's Plan

Germany's economics ministry Sunday said government plans to cap a rise in household electricity prices aren't far-reaching enough, signaling major obstacles within Chancellor Angela Merkel's own center-right coalition if the legislation is to become law before the general election.

For BP, The Cleanup Isnt Entirely Over

For BP, The Cleanup Isn't Entirely Over

As BP PLC gears up to report on Tuesday on its performance in the last quarter of 2012, it appears on the surface at least that the oil giant has much to cheer after a difficult 2 1/2 years.

Iraq Oil Exports Down For Second Running Month

Iraq Oil Exports Down For Second Running Month

Bad weather at southern export terminals and an explosion at an export pipeline in the north hit Iraq's crude oil exports in January, people familiar with the State Oil Marketing Organization, or SOMO, said Sunday.