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Iraq, Lukoil to Cut West Qurna-2 Oilfield Output Target 33%

Iraq, Lukoil to Cut West Qurna-2 Oilfield Output Target 33%

The Iraqi oil ministry and OAO Lukoil Holdings (LKOH.RS) Thursday signed an amended contract to cut the production target from Iraq's West Qurna-2 oil field 33%, a senior Iraqi oil official said Thursday.

Major Libyan Oil Terminal Remains Closed, Exports Delayed

Major Libyan Oil Terminal Remains Closed, Exports Delayed

The Zueitina oil terminal in Libya remains shut, almost a month after demonstrators forced the closure of the major oil exporting hub, a shipping agent told Dow Jones Newswires Thursday.

Turkish President Ratifies Agreement on TANAP

Turkish President Ratifies Agreement on TANAP

President of Turkey Abdulla Gul ratified an intergovernmental agreement on implementation of the Transanatolian gas pipeline project (TANAP).

Saudi Cabinet to Review Power Grid Project With Egypt by Feb

Saudi Cabinet to Review Power Grid Project With Egypt by Feb

Saudi Arabia's cabinet will likely review next month a $1.5 billion project linking the power grids of the kingdom with Egypt, Saudi water and electricity minister Abdullah Al-Hussayen said Wednesday.

Turkey And France To Resume Nuclear Plant Talks

Turkey And France To Resume Nuclear Plant Talks

Turkey and France have agreed to resume talks on civilian nuclear energy at a time Ankara plans to build three plants within the next five years, French Foreign Trade Minister Nicole Bricq said Wednesday.

Al Qaeda Group Seizes Foreigners at Algerian Gas Field

Al Qaeda Group Seizes Foreigners at Algerian Gas Field

Islamist militants seized foreign nationals Wednesday at an Algerian gas field operated by two Western energy majors, fanning fears that France's military operations in Mali are sparking a terrorist backlash in neighboring countries.

N America Shale Oil Boom Will Pressure OPEC to Cut Output - BP

N America Shale Oil Boom Will Pressure OPEC to Cut Output - BP

Increasing output of shale oil in North America will put pressure on OPEC to cut its own crude production, resulting in a global oil supply buffer on a scale not seen since oil prices were far lower more than 10 years ago, BP PLC (BP.LN) said in its annual energy forecast Wednesday.

IENE to Organize Colloquium on «The Arab Spring, Oil Market Implications and the Role of the East Med Hydrocarbon Resources»

IENE to Organize Colloquium on «The Arab Spring, Oil Market Implications and the Role of the East Med Hydrocarbon Resources»

The Institute of Energy for SE Europe (ΙΕΝΕ) is organizing an afternoon colloquium on “The Arab Spring, Oil Market Implications and the role of the East Med Hydrocarbon resources”. The event will take place on January 30, 2013, at the Eugenides Foundation Conference Centre, Faliron, Athens (387, Syngrou Ave.), from 17:00 to 21:00. Following conclusion of the Colloquium, IENE will offer a glass of wine to its guests and will celebrate the New Year