English Edition

Turkey’s Leading Oil Refiner Tupras Will Keep Oil Trade Secret

Δευ, 7 Ιανουαρίου 2013 - 12:18

Tüpraş, Turkey’s leading oil refiner and crude exporter, has asked the state-run Turkish Statistical Institute (TÜİK) to keep data on crude imports from Iran secret due to the U.S. embargo on the Iranian fuel trade, Reuters claimed yesterday from an anonymous source.

Repsol to Sue Argentina's Bridas on YPF Shale Investment

Παρ, 4 Ιανουαρίου 2013 - 18:01

Repsol SA (REP.MC) will sue an Argentine company for signing a deal to develop shale oil and gas resources with its nationalized local unit YPF SA (YPF, YPFD.BA), a spokesman for the Spanish oil company said Friday. The spokesman said Repsol told Bridas International SA in a letter sent Jan. 2 that the Spanish firm would sue it for unlawful competition under Spanish law for partnering with YPF

Bulgartransgaz Seeks Contractors for 51 Mln Euro Construction Works

Παρ, 4 Ιανουαρίου 2013 - 17:42

Bulgaria's gas transmission system operator Bulgartransgaz has invited bids for construction and repair works on its gas transmission system under a contract with an indicative value of 100 million levs ($67.8 million/51 million euro), a notice in the EU's procurement journal indicated

Shell Oil Rig Off Alaska Hasn't Leaked

Παρ, 4 Ιανουαρίου 2013 - 17:38

The Coast Guard said a Royal Dutch Shell PLC oil rig that ran aground this week off the southern coast of Alaska doesn't appear to be spilling fuel, adding that a recovery plan won't be completed until a full assessment of the situation is available. Shell said a salvage crew boarded the Kulluk late Wednesday and spent three hours examining the drilling rig, which is owned by Shell and operated by Switzerland-based contract driller Noble Corp. Late Monday, the drillship struck Sitkalidak Island, an uninhabited area about 300 miles southwest of Anchorage in the Gulf of Alaska

Iran Says It Welcomes Restarting Nuclear Talks

Παρ, 4 Ιανουαρίου 2013 - 17:30

Iran's most senior nuclear negotiator said Friday his country welcomed the prospect of restarting negotiations over its nuclear program. Speaking to reporters during a visit to the Indian capital, Saeed Jalili said there was a possibility that talks could resume this month but added, "details have not been finalized." He was in New Delhi for meetings with Indian officials and ministers to seek more bilateral cooperation

Bulgarian Section of Gas Interconnector with Serbia to Cost 48 Mln Wuro

Πεμ, 3 Ιανουαρίου 2013 - 18:22

The Bulgarian section of the gas interconnector with neighboring Serbia will cost 48 million euro ($62.9 million), Bulgaria’s deputy economy and energy minister said on Thursday. The pipeline will contribute to the security of the gas supply of the two countries while also being critical to the development of the gas market of the entire region

Gulf Stockmarkets Seen Up on Global Market Cheer

Πεμ, 3 Ιανουαρίου 2013 - 17:54

Stock markets in the Persian Gulf are seen mostly higher Thursday as investors track global equity strength in the new year, but the focus is likely to shift next week to regional economic news and company earnings. Equities are seeing a continuation of a buoyant risk environment as investors react to the passing of the U.S. fiscal cliff deal, analysts at IG Markets say

Exxon Delay To Shut Pipeline Increased Size of 2011 Montana River Oil Spill

Πεμ, 3 Ιανουαρίου 2013 - 17:49

Exxon Mobil Corp. (XOM) delayed fully shutting down a ruptured oil pipeline in Montana's Yellowstone River in 2011, opening the door for an additional 1,000 barrels of crude to surge into the waterway, according to the U.S. government. More than 1,500 barrels of oil flowed into the river after a July 1, 2011, failure in the 12-inch crude pipeline that runs from Silver Tip, Mont., to Billings, according to a report by the Pipeline and Hazardous Materials Safety Administration, a division of the U.S. Department of Transportation

Brazil's QGEP: Carcara Field Wells Could Rival Lula's Output

Πεμ, 3 Ιανουαρίου 2013 - 17:37

Brazilian oil and natural gas company QGEP Participacoes (QGEP3.BR) said Thursday that wells at the promising Carcara subsalt prospect could eventually rival production at the Lula offshore field that pushed the Latin American country into the oil-industry spotlight. Flow rates and reservoir conditions at the Carcara discovery are superior to the Lula field, which has several of Brazil's best-performing oil wells, producing about 28,000 barrels of crude per day, QGEP Exploration Director Sergio Michelucci said during a conference call. Lula, which currently produces about 100,000 barrels a day, is estimated to hold recoverable reserves of between 5 billion and 8 billion barrels of oil equivalent

Abu Dhabi's Taqa Inks Accord on Turkish Energy Project

Πεμ, 3 Ιανουαρίου 2013 - 17:33

Abu Dhabi National Energy Co., better known as Taqa, said Thursday it signed an inter-governmental agreement with Turkey for the development of power plants and associated coal mines in the southern Turkish region of Afsin-Elbistan. According to the agreement, which marks the start of exclusive talks between the Abu Dhabi firm, Turkey's Electricity Generation Co., EUAS, and the Turkish government, Taqa will build 7,000 megawatts of generation capacity

Iran Politics Steer Nuclear Stance

Τετ, 2 Ιανουαρίου 2013 - 18:30

Domestic politics and a June election could make the difference in how Iran addresses its main dilemma of the coming year: whether to compromise on its nuclear program or maintain a policy of defiance. Iran is slated to elect a new president amid deep political divisions and rivalries among conservative factions. The issues at the heart of Iran's standoff with the West -- the country's economy, its isolation and security -- will likely dominate the campaign

Iran Claims Shooting Down Two US-made RQ-11 Drones

Τετ, 2 Ιανουαρίου 2013 - 18:28

Iran on Wednesday said it had shot down two U.S.-made RQ-11 reconnaissance drones in the past 15 months, adding to a ScanEagle drone and RQ-170 Sentinel stealth aircraft it already claims to have captured. "The army's air defense shot down two...RQ-11 drones," Rear Admiral Amir Rastegari told state television and Fars news agency, adding that the army was carrying out "research" on the downed unmanned aircraft

Posco Backs Deal for $1.1 Billion Stake in Arcelor

Τετ, 2 Ιανουαρίου 2013 - 18:22

A consortium that includes South Korea's biggest steel maker is buying a $1.1 billion stake in Montreal's ArcelorMittal Mines Canada Inc., the latest sign of international enthusiasm for Canada's resource sector. A person familiar with the deal said South Korea's POSCO is "one of the more important players" in the consortium, which also includes Taiwan's China Steel Corp. The consortium is taking a 15% stake in ArcelorMittal Mines -- the second time in as many years that POSCO has bought into a Canadian mining firm

Oil Futures Jump as US House Approves Fiscal Cliff Bill

Τετ, 2 Ιανουαρίου 2013 - 18:20

Crude-oil futures soared in Asia on the first trading day of 2013, with the U.S. benchmark rising by over $1 after the U.S. House approved a bill to address the fiscal cliff-a bevy of tax increases and government spending cuts slated to begin in January. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at $92.82 a barrel at 0627 GMT, up $1.00 in the Globex electronic session. February Brent crude on London's ICE Futures exchange rose $0.88 to $111.99 a barrel

Russia's 2012 Oil Output Hits Post-Soviet High

Τετ, 2 Ιανουαρίου 2013 - 18:13

World energy power Russia said on Wednesday that its 2012 oil output hit a post-Soviet record high level while natural gas production declined amid stalling European sales. The mixed figures--highlighted by a dip in oil exports outside ex-Soviet territories--point to lingering problems in a sector that accounted for 49% of all budget revenues in 2011

Vitol Set for UK Tax Showdown

Δευ, 31 Δεκεμβρίου 2012 - 14:11

Swiss-based Vitol, a leading oil trader, is set to have negotiations with the U.K. taxman after HM Revenue & Customs issued a demand for back taxes over an offshore pay scheme that let its top staff avoid millions of pounds in tax, the Sunday Times reports.