English Edition

OPEC Sees Lower Demand Growth, More Supply in 2013

Τετ, 11 Ιουλίου 2012 - 15:23

World oil demand growth is set to flag next year in line with a slowdown in the global economy, even as supply from non-OPEC countries is seen increasing, the Organization of Petroleum Exporting Countries said in its monthly oil market report Wednesday.

EU Proposes Cars Cut CO2 Emissions to 95 Grams a Kilometer by 2020

Τετ, 11 Ιουλίου 2012 - 15:22

The European Union's executive body proposed Wednesday to further limit passenger cars' greenhouse gas emissions by 2020, a move likely to stir unease in an industry already complaining about low profit margins and overcapacity in Europe.

Gazprom to Sell More Gas to Independent Turkish Buyers

Τετ, 11 Ιουλίου 2012 - 11:48

Russia's state-controlled Gazprom is working on sales agreements with potential Turkish buyers to make sure that they receive import licences to buy Russian gas.

The Nuclear Plant to be Built in Turkey's Mersin Akkuyu may Cost USD 25 billion

Τετ, 11 Ιουλίου 2012 - 11:47

During a press statement, Vladimir Ivanovski, Russia’s Ambassador to Turkey said the nuclear plant to be built in Mersin Akkuyu may cost as high as USD 25 billion, while the initial costs were estimated at USD 20 billion.

Poland May Propose Taking Stakes In Hydrocarbon Licenses

Τρι, 10 Ιουλίου 2012 - 18:35

The Polish government's yet-to-be published draft law on taxing hydrocarbons production may give the government as much as a 40% stake in hydrocarbon licenses, daily Dziennik Gazeta Prawna reports Tuesday citing an unnamed government official.

NIOC Matches Saudi Oil Price Hikes for Asia, Europe

Τρι, 10 Ιουλίου 2012 - 18:34

National Iranian Oil Co. has pegged oil prices for its crude at higher levels for most customers in August, matching a similar move by Saudi Arabia earlier in the month, despite tightening sanctions against the Islamic Republic's crude exports.

Saudi Keeps Aug Term Crude Volumes To Europe Unchanged

Τρι, 10 Ιουλίου 2012 - 18:34

Saudi Arabian Oil Co., or Saudi Aramco, has offered its European term lifters their full quota of supply in August, unchanged from July, buyers of Saudi crude in Europe told Dow Jones Newswires Tuesday.

BP Shelves Arctic Offshore Project in Alaska

Τρι, 10 Ιουλίου 2012 - 18:33

BP PLC (BP) is shelving its Liberty offshore drilling project in Alaska, after deciding that the current development plan is not up to the stricter standards the company enacted after the Deepwater Horizon incident.

Court Hearing on DEPA/DESFA Privatization Cancelled Due to the Non-Appearance of FUND ENERGY

Τρι, 10 Ιουλίου 2012 - 16:28

The Russian group Fund Energy sought an injunction from Greek Courts regarding the tender procedure for the privatization of the DEPA Group. The hearing before the Athens Court of First Instance was scheduled for today.

Iran to Sell Oil to Europe via Private Consortium

Τρι, 10 Ιουλίου 2012 - 13:46

Iran has reached agreements with European refiners to sell some of its oil through a private consortium, the Indian Express reported, citing an official, APA reports quoting Mehr agency.

Beijing Threatens EU With Trade Action

Δευ, 9 Ιουλίου 2012 - 17:44

Chinese officials warned their European Union trade counterparts at a meeting in late June that they would investigate subsidies given to European agriculture, automotive, renewable energy and telecoms companies if the EU proceeded with an investigation of wireless-network vendors Huawei Technologies Co. and ZTE Corp. (0763.HK), the Financial Times reported on its website Sunday, citing unnamed sources.