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Russian Court Rules Against BP in TNK-BP Lawsuit

Παρ, 27 Ιουλίου 2012 - 18:14

Russia's Tyumen arbitration court on Friday ordered BP PLC to pay just over 100 billion rubles ($3.1 billion) in damages to TNK-BP, a ruling that the British company called a "corporate attack." The court ruling is to take effect in 30 days unless appealed, in which case it would become effective at the end of the appeal process, BP's lawyer said

To Review Secretary General Candidates At August Panel Meeting

Πεμ, 26 Ιουλίου 2012 - 18:35

Members of the Organization of Petroleum Exporting Countries are set to meet in Vienna next month to start the process of selecting a new secretary general, OPEC delegates said Thursday. A panel, set up to recommend a preferred candidate, will meet at the end of August "to screen applications of the candidates" and to determine whether their credentials are suitable for the job, one OPEC delegate said

India-Iran Shipping JV Folds Under Sanctions Pressure

Πεμ, 26 Ιουλίου 2012 - 18:32

U.S.-led sanctions against Tehran claimed their latest casualty Thursday, with state-run companies in India and Iran deciding to scrap a 37-year-old shipping joint venture because the unrelenting pressure was making operations untenable. The sanctions denied the joint venture's ships of insurance to cover third-party claims in case of oil spills or other accidents. Also, the curbs have made it very difficult for Iranian companies to do business in U.S. dollars and euros -- the currencies of choice for charter hires

Shell Signals Interest In Russia's Shtokman Project

Πεμ, 26 Ιουλίου 2012 - 18:27

Royal Dutch Shell PLC is open to doing more liquefied natural gas projects in Russia, including joining the OAO Gazprom -led Shtokman development in the country's Arctic region, Chief Executive Peter Voser said Thursday. "We are interested in doing more gas projects in Russia," said Mr. Voser. "We are in talks with various players in the country, including Gazprom."

Bulgaria Plans Further Cuts in Solar Incentives

Πεμ, 26 Ιουλίου 2012 - 18:05

Bulgaria plans to cut guaranteed rates for electricity generated from new solar power parks by an average of 30 percent from September after halving the feed-in tariffs in late June, the energy regulator said on Thursday. The State Energy and Water Regulatory Commission will seek the reductions as a solar boom fuelled by generous guaranteed rates threatens to boost consumer prices and strain the power grid in the European Union's poorest country

AAR Would Welcome 50-50 Ownership of TNK-BP With Rosneft-Interfax

Τετ, 25 Ιουλίου 2012 - 17:27

The AAR group of Soviet-born billionaires said Wednesday they would welcome state oil company OAO Rosneft (ROSN.RS) as a partner in TNK-BP (TNBP.RS) if BP PLC (BP) decides to sell the oil giant its 50% share in Russia's No.3 crude producer, Interfax reported.

Shell Signs Upstream Deals With CNOOC, CNPC For China, Gabon Projects

Τετ, 25 Ιουλίου 2012 - 17:27

Royal Dutch Shell PLC (RDS.LN) Shell announces Wednesday that it signed two offshore oil and gas Production Sharing Contracts, or PSCs, with the China National Offshore Oil Corporation, or CNOOC, and a PSC amendment with CNPC, the China National Petroleum Corporation, for a new development phase for the Changbei gas field in China.

Suntech Power Warns Against EU Protectionist Moves in Solar Sector

Τετ, 25 Ιουλίου 2012 - 17:26

Leading Chinese solar component maker Suntech Power Holdings Co. (STP, K3ND.SG) Wednesday warned that any move by the European Union to impose duties against it could spark a trade war and destroy thousands of jobs in the European solar sector.

EU Proposes Steps to Pave Way for Higher CO2 Prices

Τετ, 25 Ιουλίου 2012 - 17:26

The European Union's executive body presented first ever plans to boost EU carbon prices, a controversial effort to fix the problem of low prices that has been crippling the EU market for years, raising questions about its own existence.

PetroChina to Take 40% Stake in Qatar's Block 4 From GDF Suez

Τετ, 25 Ιουλίου 2012 - 17:26

Qatar Petroleum signed an agreement Wednesday allowing PetroChina Co. (PTR) to acquire from GDF Suez SA (GSZ.FR) a 40% stake in the country's exploration and production Block 4 field.

Azerbaijani Energy Minister Backs Nabucco West Gas Pipeline

Τετ, 25 Ιουλίου 2012 - 12:28

Azerbaijan's best bet for piping natural gas to western Europe from the Caspian Sea is the Nabucco West project, Industry and Energy Minister Natik Aliyev said on Tuesday ahead of a formal decision.

Iran Completes First Of Four Oil Tankers For Venezuela

Τρι, 24 Ιουλίου 2012 - 18:25

Iran has completed construction of the first of four oil tankers to be sold to Venezuela for a total 230 million euros ($278 million), the official news agency IRNA reported Tuesday.

Cnooc to Gain Access to Shale Techniques

Τρι, 24 Ιουλίου 2012 - 18:25

Cnooc's (CEO) intention to take over Nexen (NXY.T) would give the Chinese company access to Nexen's extensive experience with unconventional oil and gas resources in North America, says JBC Energy.

Russia's Supreme Court Orders Review of Khodorkovsky Conviction

Τρι, 24 Ιουλίου 2012 - 18:24

Russia's highest court Tuesday ordered a review into the second conviction of jailed former Yukos oil company boss Mikhail Khodorkovsky and his business partner Platon Lebedev.

Chevron Barred From Deals In Central, Southern Iraq

Τρι, 24 Ιουλίου 2012 - 18:24

The second largest U.S. energy company Chevron Corp. (CVX) will be barred from contracts in central and southern Iraq because the Californian company bought stakes in two oil-exploration blocks in the Kurdish region of Iraq, an Iraqi oil ministry statement said Tuesday.

Weighed Average Import Price of Natural Gas in Greece

Τρι, 24 Ιουλίου 2012 - 14:15

According to the provisions of the Ministerial Decision No Δ1/Γ/400 (Government Gazette Issue Β’ 33/19.1.2007), entitled «Determination of the procedure applied to collect and process the data required to calculate the weighed average import price of Natural Gas”, the companies importing Natural gas in the National Natural Gas System (NNGS) are required to submit to RAE, every three months, data about the quantities and prices of imported Natural Gas.