English Edition

Vestas Shares Tumble Following Profit Warning

Shares in Vestas Wind Systems A/S (VWS.KO) plummeted Monday after the world's largest manufacturer of wind turbines revised its profit guidance for 2011 and said it wouldn't complete some projects on time due to problems commissioning a new generator factory in Germany.

TNK-BP To Pay $1B To Buy 45% Stake In HRT's Amazon Oil Blocks

TNK-BP Holding (TNBP.RS) will pay $1 billion to buy a stake in exploration blocks in the Amazon region from Brazil's HRT Participacoes em Petroleo SA (HRTP3.BR), the Brazilian company said Monday in a statement.

Petrobras To Double Oil Production To 4M B/D By 2020 - CEO

Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, plans to double its crude production from the current level to four million barrels a day by 2020, said its chief executive Jose Gabrielli Monday.

Unsustainable UK Solar Subsidies Should Be Halved - Govt

A popular subsidy to incentivize U.K. citizens to switch to solar power had become too expensive to maintain and should be cut by half, the government said Monday, a move that some solar panel manufacturers and consumer groups warned will lead to industry job losses and set back attempts to encourage households to generate their own electricity as a cheaper and secure alternative.

CEZ Sets Deadline Of July 2, 2012 For Nuclear Reactor Tender

The Czech Republic's 70% state-owned power company CEZ AS (BAACEZ.PR) on Monday set July 2, 2012 as the deadline for bids in a tender to build two new nuclear reactors, and said a winner will be chosen in late 2013.

Nabucco Pipeline Investment Decision To Come At Year-End

Germany's nuclear phase-out has given the planned Nabucco gas pipeline a boost by raising the need for imported energy, but a final investment decision won't be made until the end of 2012, meaning construction wouldn't begin before 2013, the pipeline's managing director told Dow Jones Energy Daily.

TNK-BP Buys 45 pct Stake in Brazilian Oil and Gas Deposit

Russian-British oil joint venture TNK-BP has bought a 45 percent stake in an oil and gas deposit in Brazil from local firm HRT O&G for an undisclosed sum, TNK-BP said in a statement on Monday.

GDF Inks Huge Chinese LNG Deals

GDF Suez has penned a deal worth $4 billion with China Investment Corporation (CIC) covering an LNG play in Trinidad & Tobago.

Iran Raises Crude Oil Exports to Turkey

The Islamic Republic of Iran has signed new deal with Turkey to surge oil exports, a National Iranian Oil Company (NIOC) official said on Sunday.

Panetta: North Korea Bars Return Of Workers From Libya

North Korea is refusing to let 200 workers return from Libya because it fears they will spread word about the fate of Moammar Gadhafi, U.S. Defense Secretary Leon Panetta said Thursday.

Saudi Aramco Stops Leak At Safaniya Oil Field

Sinopec Profit Lifted By Higher Oil Prices

China Petroleum & Chemical Corp. (SNP), or Sinopec, said Thursday its third-quarter net profit rose 3% from a year earlier under international accounting standards, helped by higher oil prices.

General Electric Selling 350 Wind Turbines To BP's Wind Energy Arm

General Electric Co. (GE) said Thursday it is selling 350 wind turbines to BP PLC's (BP, BP.LN) wind energy arm in a deal valued at roughly $750 million.