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Italys Current Refinery Overcapacity at Least 25%

Italy's Current Refinery Overcapacity at Least 25%

Δευ, 18 Ιουνίου 2012 - 17:42

Italy's refinery capacity is currently between 20% and 25% more than is needed as demand remains weak, said the head of the country's oil association, Unione Petrolifera, Monday.

Iraq To Hold New Energy Licensing Auction 2012-13 -Oil Official

Iraq To Hold New Energy Licensing Auction 2012-13 -Oil Official

Δευ, 18 Ιουνίου 2012 - 17:41

Iraq is planning to hold a fifth licensing auction for exploration blocks by the end of this year or at the beginning of 2013 after its last round failed to attract many companies, a top energy advisor to the Iraqi prime minister said Monday.

Exxon Mobil Drops Shale Plans In Poland

Exxon Mobil Drops Shale Plans In Poland

Δευ, 18 Ιουνίου 2012 - 17:41

Exxon Mobil Corp. (XOM) confirmed Monday it has dropped further shale exploration in Poland after two wells didn't produce commercial quantities of natural gas.

Rosneft, ExxonMobil Sign West Siberia Deal

Rosneft, ExxonMobil Sign West Siberia Deal

Δευ, 18 Ιουνίου 2012 - 14:26

Rosneft and ExxonMobil today signed a cooperation agreement covering joint work in the development of the Russian firm's tight oil reserves in west Siberia.

Greek Crisis not Expected to Impact South Stream Pipe Project

Greek Crisis not Expected to Impact South Stream Pipe Project

Δευ, 18 Ιουνίου 2012 - 14:06

Construction of the South Stream natural gas pipeline's offshore section will commence on schedule despite uncertainty about investments in the Greek part of the pipeline, RBC reports quoting Gazprom CEO Alexey Miller. According to him, the final decision on the timeline of the construction of the offshore part should be made before mid-November 2012.

OPEC Sec Gen: Most Members Agreed To Individual Oil Output Targets

OPEC Sec Gen: Most Members Agreed To Individual Oil Output Targets

Παρ, 15 Ιουνίου 2012 - 18:30

Most members of the Organization of Petroleum Exporting Countries have agreed to reduce their oil production in line with their output in November 2011, which will bring the group back in line with its 30 million barrel a day production ceiling, said Secretary General Abdalla Salem el-Badri Friday.

Eni CEO Sees No Investment Changes Due to Oil Price

Eni CEO Sees No Investment Changes Due to Oil Price

Παρ, 15 Ιουνίου 2012 - 18:30

Eni SpA (ENI, E) Chief Executive Paolo Scaroni says he doesn't expect any oil producer to alter its investments because of the latest price of oil, Italian newspaper la Repubblic reports Friday.

Greek Elections Could See Oil Drop 18% -ANZ

Greek Elections Could See Oil Drop 18% -ANZ

Παρ, 15 Ιουνίου 2012 - 18:29

Crude oil prices could drop as much as 18% next week if the Greek election fails to return a positive outcome, says ANZ. Commodities more generally could drop an average 12% following the election, but oil is likely to be the biggest loser because of the relatively large number of speculators still holding long positions.

Exxon, Rosneft Agree to Develop Tight Oil Reserves, Open Research Center

Exxon, Rosneft Agree to Develop Tight Oil Reserves, Open Research Center

Παρ, 15 Ιουνίου 2012 - 18:29

Exxon Mobil Corp. (XOM) agreed to develop tight oil reserves in Western Siberia and open a research center with Russian oil and gas company Rosneft (ROSN.RS) as part of an effort to find new regions of operation and explore the potential of difficult-to-produce reserves.

Italy Agrees to Sell Public Assets, Introduces Growth Measures

Italy Agrees to Sell Public Assets, Introduces Growth Measures

Παρ, 15 Ιουνίου 2012 - 18:28

The Italian government of Prime Minister Mario Monti on Friday said it approved measures that will allow it to sell initially some 10 billion euros ($12.6 billion) of public assets in about a month to slash the country's public debt.

OPEC to Keep 30 Million Barrel Output Target

OPEC to Keep 30 Million Barrel Output Target

Παρ, 15 Ιουνίου 2012 - 13:50

OPEC oil ministers agreed Thursday to keep their production target steady, in a compromise meant to defuse rivalries between Iran and Saudi Arabia and to send a soothing message to economically troubled consuming nations. Oil prices have fallen more than 20 percent over the past two months, and a statement from the Organization of the Petroleum Exporting Countries citied "downside risks facing the global economy" and ample stocks of crude as being responsible for the trend

The Projects that Are Key to Greek Recovery

The Projects that Are Key to Greek Recovery

Παρ, 15 Ιουνίου 2012 - 12:34

Europe is at a self-imposed crossroads. It has to choose between disintegration, first of the common currency and next of the common institutions, and a painful redressing of its shortcomings. Greece is the crossroads. It is not the cause, but the manifestation of the limitations of the European Union.

One of the Worlds Biggest Wind Parks Approved in Greece

One of the World's Biggest Wind Parks Approved in Greece

Παρ, 15 Ιουνίου 2012 - 11:51

The Regulatory Authority for Energy (RAE) approved on Thursday a license for the construction of the world’s biggest offshore wind park, consisting of 81 turbines with a total capacity of 498.15 megawatts.

Russia To Cut by 11.1% Natgas Prices for Bulgaria after Resolving South Stream Pipeline Issues

Russia To Cut by 11.1% Natgas Prices for Bulgaria after Resolving South Stream Pipeline Issues

Τετ, 13 Ιουνίου 2012 - 18:31

Russia will lower the price of natural gas for Bulgaria by 11.1% when the shareholders in the South Stream pipeline project - Russia's Gazprom and Bulgarian state-owned Bulgartransgaz - resolve the outstanding issues, Bulgaria's economy minister said. When all issues are resolved and Bulgaria makes a final investment decision, it will get an 11.1% cut in the price of gas supplies retroactively, from April 1, state-run Bulgarian News Agency (BTA) reported on Monday quoting economy minister Delyan Dobrev