English Edition

US Warns Iran Against Closing Strait Of Hormuz

Πεμ, 29 Δεκεμβρίου 2011 - 19:42

Tensions between Iran and the U.S. rose Wednesday as the U.S. Navy warned it would prevent any attempt to close the strategic Strait of Hormuz, as Iranian officials threatened to do in response to imposing sanctions on its oil exports. A significant supply of the world's energy -- about 15 million barrels of oil per day -- passes through the strait, a narrow passage that connects the Persian Gulf to the Gulf of Oman. A disruption of that flow would send the price of oil higher in an already fragile global economy

Us Oil Inventories: Stockpiles Rise, Defying Expectations

Πεμ, 29 Δεκεμβρίου 2011 - 19:41

U.S. crude inventories rose last week while analysts expected them to fall, according to data released Thursday by the U.S. Department of Energy. Crude oil stockpiles rose 3.9 million barrels to 327.5 million barrels, compared with an average survey estimate of a drop of 2.2 million barrels. The American Petroleum Institute, an industry group, reported a 9.6 million barrel build in its weekly report released late Wednesday

Libya Says To Review Contracts With Italian Oil Major ENI

Πεμ, 29 Δεκεμβρίου 2011 - 19:40

Libya will review all its contracts with Italian oil major ENI, the top producer of crude in the North African country, a statement from the prime minister's office said Thursday. The decision to review the contracts was communicated to the Italian firm's chief executive officer Paolo Scaroni Wednesday by Prime Minister Abdel Rahim al-Kib during a meeting, the statement from Kib's office said

Criminal Charges Are Prepared in BP Spill

Πεμ, 29 Δεκεμβρίου 2011 - 19:39

U.S. prosecutors are preparing what would be the first criminal charges against BP PLC (BP) employees stemming from the 2010 Deepwater Horizon accident, which killed 11 workers and caused the worst offshore spill in U.S. history, said people familiar with the matter. Prosecutors are focused on several Houston-based engineers and at least one of their supervisors at the British oil company, though the breadth of the investigation isn't known

China Calls On Big Energy Users To Save 250 Mln Tons Of Coal By End-2015

Τετ, 28 Δεκεμβρίου 2011 - 15:38

China is calling on the nation's major energy-consuming companies to save a combined 250 million metric tons of standard coal through the end of 2015 through technology upgrades, the National Development and Reform Commission said Wednesday.

Afghanistan Signs First Major Oil Deal With China

Τετ, 28 Δεκεμβρίου 2011 - 15:37

Afghanistan on Wednesday signed an oil deal with China which could earn the war-torn country $7 billion over 25 years.

EU To Pursue Iran Sanctions Despite Threat Of Strait Closure

Τετ, 28 Δεκεμβρίου 2011 - 15:37

The European Union is pressing ahead with plans to impose new sanctions on Iran, an EU spokesman said Wednesday after Tehran threatened to close a vital oil transit channel in response to Western measures.

Italy Regulator Asks EDF, A2A For More Edison Deal Information

Τετ, 28 Δεκεμβρίου 2011 - 15:37

Italian stock market regulator Consob confirmed Wednesday it has asked local utility A2A SpA (A2A.MI) and Electricite de France SA (EDF.FR) for more information about a Tuesday agreement ending their long-running spat over control of Edison SpA (EDN.MI), adding it expects a statement in the coming days.

Turkey, Russia Reach Deal on South Stream Pipeline

Τετ, 28 Δεκεμβρίου 2011 - 13:19

Turkey and Russia have reached agreement on the award of a final construction permit for the South Stream pipeline which will carry Russian gas from the Black Sea to Europe, Turkish government officials told Reuters.

Iran Signs Fuel Deal With Afghanistan

Τρι, 27 Δεκεμβρίου 2011 - 15:40

Iran has signed a deal with Afghanistan to supply its neighbor with a million tons of fuel oil, petrol and aviation fuel a year, Iranian media reported Tuesday without putting a value on the agreement.

Only Saudi Arabia Can Make Up For Possible Iran Crude Ban - JX Official

Τρι, 27 Δεκεμβρίου 2011 - 15:40

A senior official of Japan's largest refiner by capacity said Tuesday only Saudi Arabia can make up for a supply gap if a large part of the global community stops buying Iranian crude oil.

Japan Panel Calls For Broad Deregulation Of Power Market

Τρι, 27 Δεκεμβρίου 2011 - 15:39

A government-appointed panel of experts Tuesday recommended freeing up of both electrical power production and distribution to outside competition in Japan's first major review of the utilities industry in almost a decade.

EDF CFO: Edison Takeover Deal Should Reassure Rating's Agencies

Τρι, 27 Δεκεμβρίου 2011 - 15:39

Electricite de France SA's (EDF.FR) preliminary deal to take over Italian power utility Edison SpA (EDN.MI) should reduce Edison's debt by EUR1.1 billion and reassure ratings agencies, EDF Chief Financial Officer Thomas Piquemal said Tuesday.

Saboteurs Blow Up Gas Pipeline In Syria's Homs

Τρι, 27 Δεκεμβρίου 2011 - 15:39

Saboteurs blew up a gas pipeline in the flashpoint Syrian region of Homs on Tuesday, the official SANA news agency reported, as Arab League observers visited the provincial capital.

India Opposes Binding Emissions Pact, Minister Says

Τρι, 27 Δεκεμβρίου 2011 - 15:38

India said Tuesday it would reject any global pact legally binding it to cut greenhouse gas emissions as such a move could stifle economic growth needed to eradicate poverty.

Turkey, Azerbaijan Sign Deal for Pipeline Project

Τρι, 27 Δεκεμβρίου 2011 - 10:34

Turkey and Azerbaijan signed a deal Monday for the construction of a new joint gas pipeline project, the Trans Anadolu pipeline, which will stretch from Turkey's eastern border to its western border, with the aim of exporting Azerbaijani natural gas to Europe.