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Bulgargaz, DEPA Sign Mutual Assistance Framework Agreement

Bulgargaz, DEPA Sign Mutual Assistance Framework Agreement

Bulgaria's state-owned gas utility Bulgargaz said on Thursday it has signed a framework agreement with its Greek counterpart DEPA on mutual assistance in the event of natural gas shortages in either of the two countries resulting from extraordinary conditions.

Turkey and China Will Soon Start Talks for Building Third Nuclear Power Plant

Turkey and China Will Soon Start Talks for Building Third Nuclear Power Plant

Turkey and China will soon start talks for building the third nuclear power plant in the northwestern region of the country, said Turkey’s Deputy Prime Minister in Istanbul yesterday at a meeting with the Vice President of China, noting that Turkey’s doors are wide open for Chinese banks.

Italy’s Falconara LNG Terminal Obtains Clearance

Italy’s Falconara LNG Terminal Obtains Clearance

The Italian government has approved energy group API's project to build a 2.9mn t/yr LNG terminal offshore Falconara Marittima, near the town of Ancona in the central region of Marche.

Positive HELPE Results, Despite Challenging Environment

Positive HELPE Results, Despite Challenging Environment

Refining margins remained weak during the year with FCC cracking benchmark margin at $2.86/bbl ($4.37/bbl in 2010), with record historical lows in 4Q driven by weak demand and lower gasoline and naphtha cracks.

ELPE to Restart Elefsina Facility Next Quarter

ELPE to Restart Elefsina Facility Next Quarter

Hellenic Petroleum, Greece’s biggest refiner, plans to start its Elefsina facility in the next quarter, resuming operations for the first time in at least a year, after tying in new processing equipment.

Nabucco: Could Route N Iraq Gas Through Turkey To Europe

Nabucco: Could Route N Iraq Gas Through Turkey To Europe

Nabucco consortium could turn its attention to routing natural gas from Northern Iraq to Europe, a spokesman for the pipeline project said Wednesday, pointing to the region's "huge potential" as a resource base. "Why shouldn't we pipe gas from Northern Iraq," said Christian Dolezal. The consortium still remains focused on its primary project of a major pipeline to carry Caspian natural gas to Europe, said Dolezal

IAEA Nuclear Inspector Says Reached Impasse With Iran

IAEA Nuclear Inspector Says Reached Impasse With Iran

The chief United Nations nuclear inspector probing Iran's alleged atomic weapons drive said Wednesday negotiations have reached an impasse following a high-stakes two-day visit to the Islamic republic. "We tried to reach agreement on a way forward to resolve all the outstanding issues...We approached this trip in a constructive spirit. Unfortunately we could not get agreement," Herman Nackaerts told reporters at Vienna airport

Iran To Resume Crude Sales To France, UK If They Sign Deals

Iran To Resume Crude Sales To France, UK If They Sign Deals

Iran is ready to restart exporting its oil to France and the UK if they sign long-term supply deals, and will also continue delivering crude to Italy's Eni SpA, Tehran's oil chief said Wednesday, as the country climbed down from threats that have pushed oil prices to a nine-month high

Shah Deniz Pipeline Decision To Come Middle 2013

Shah Deniz Pipeline Decision To Come Middle 2013

A decision concerning which pipeline will receive gas from the Shah Deniz field will be made by the middle of 2013, Austrian oil and gas company OMV AG's Chief Executive Office Gerhard Roiss said Wednesday. "The consortium (developing the field) has told us that they will definitely decide by middle of 2013," said Roiss. Previously, a decision had been expected in 2012

Iraq To Approve New Saudi Ambassador For First Time Since 1990

Iraq To Approve New Saudi Ambassador For First Time Since 1990

Iraq will quickly approve the nomination of a non-resident Saudi ambassador, meaning the kingdom will have an ambassador to Iraq for the first time since 1990, the Iraqi premier's spokesman said Tuesday.

Total: Finalizes Uganda Entry With Tullow, CNOOC

Total: Finalizes Uganda Entry With Tullow, CNOOC

French oil-and-gas major Total SA (TOT) Tuesday confirmed the finalization of its farm-in with Tullow Oil PLC (TLW.LN) for an interest of 33.33%, covering EA-1 and EA-2 licenses, the new Kanywabata license and the Kingfisher production license in Uganda's Lake Albert region.

Petrofac Gets $329.7M Contract In Iraqs Badra Oil Field

Petrofac Gets $329.7M Contract In Iraq's Badra Oil Field

Iraq and a consortium led by Russia's state oil producer OAO Gazprom Neft (SIBN.RS) have awarded a $329.758 million deal to U.K.-based oil and gas services company Petrofac Ltd. (PFC.LN) to develop the untapped Badra oil field, in eastern Iraq, an Iraqi government spokesman said Tuesday.