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Iran's NIOC Raises June OSPs to NW Europe, Med

Τετ, 9 Μαΐου 2012 - 17:49

National Iranian Oil Co., or NIOC, has raised its crude-oil official selling prices for June term supply to Northwest Europe and the Mediterranean, a person familiar with the situation told Dow Jones Newswires Wednesday.

Liberia Parliament Wants 10 Oil Contracts Renegotiated

Τετ, 9 Μαΐου 2012 - 17:48

Liberian lawmakers Wednesday voted to renegotiate production-sharing contracts with oil companies which they said violate the current petroleum law.

Serious Cash Problems in RES Sector

Τετ, 9 Μαΐου 2012 - 16:41

The renewable energy sources (RES) sector is ringing the alarm bells and demanding immediate measures to boost liquidity in the electricity market as well as a long-term plan for its viability and growth. In a joint interview last week, the three associations representing the sector (in the respective areas of wind power stations, photovoltaic parks and small hydroelectric plants), along with the Hellenic Wind Energy Association (HWEA), blamed the government for failing to diagnose the real problem in the sector, which according to the representatives is the ever-increasing bad loans in the electrical energy supply market.

Bahrain Min: $15B Will Be Invested Over 20 Yrs To Boost Oil, Gas Output

Τρι, 8 Μαΐου 2012 - 19:11

Bahrain's energy minister Abdul Hussein Mirza said that nearly $15 billion will be invested in the next two decades in projects to develop his country's oil resources, Manama-based Akhbar Al Khaleej daily reports Tuesday.

Saudi Able To Compensate For Any Oil Supply Shortages - Naimi

Τρι, 8 Μαΐου 2012 - 19:11

Saudi Arabia reiterated Tuesday it is very well-equipped to fill any gap between global supply and demand thanks both to its ample spare crude-oil output capacity and oil stocks, but suggested that the Organization of Petroleum Exporting Countries could potentially discuss a change to the group members' output when ministers meet next month.

Eni Sees Not Taking Minimum Take-Or-Pay Gas Amounts In 2-3 Years

Τρι, 8 Μαΐου 2012 - 19:10

Eni SpA (E), Italy's biggest energy company by market value, Tuesday said it expects not to take the minimum amount of natural gas in the next two to three years under its long-term take-or-pay contracts, as demand for the fossil fuel remains weak amid a European economic slowdown.

Work on Bulgaria-Turkey Gas Link To Start in 2013

Τρι, 8 Μαΐου 2012 - 15:10

The construction of a gas link between Bulgaria and Turkey with a capacity of 8.3 million cubic metres per day will start in 2013, a report of the European Network of Transmission System Operators for Gas (ENTSOG) indicated.

Cypriot Government Announces New RES Schemes

Τρι, 8 Μαΐου 2012 - 12:57

The government has approved new renewable energy sources (RES) subsidy schemes, which mainly aim to boost photovoltaics and biomass, it was announced yesterday.

Iran Hopes Hollande Presidency Opens New Era

Δευ, 7 Μαΐου 2012 - 18:08

Tehran Monday voiced hope that Francois Hollande's presidency will open up a "new era" in ties between Iran and France, whose former president was one of the most vocal critics of Iran's nuclear program.

Saudi, UAE To Make Up Any Drop In Iran Oil Supply To S. Korea

Δευ, 7 Μαΐου 2012 - 18:08

Saudi Arabia and the United Arab Emirates have pledged to make up for any shortfall in Iranian oil exports to South Korea, the country's Minister of Strategy and Finance Bahk Jae-wan said Monday.

France, Greece Worries Stop Oil From Rising -DnB

Δευ, 7 Μαΐου 2012 - 18:08

French and Greek election results, which fueled worries over the euro zone's ability to solve its sovereign debt problems, have prevented crude prices from rising Monday after sharp falls at the end of last week, says Torbjorn Kjus, oil market analyst at DnB NOR. "Normally we would see more strength in oil futures [after such falls]," he says.