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Iraq, Lukoil Award $998M West Qurna Deal To Samsung

Τετ, 25 Ιανουαρίου 2012 - 18:37

Iraq and Russia's OAO Lukoil Holding (LKOH.RS) have awarded a $998 million deal to south Korea's Samsung Group to develop the supergiant West Qurna phase 2 oil field, the Iraqi government said in a statement Wednesday.

UK Court Upholds Challenge To Govt's Solar Subsidy Cut

Τετ, 25 Ιανουαρίου 2012 - 18:36

The U.K. Wednesday lost a bid to overturn a court ruling that its planned cuts to solar power subsidies were illegal, a decision that could allow thousands of consumers to claim the higher payouts introduced by the previous Labour government.

ConocoPhillips 4Q Profit Rises 66% Amid Asset Sale Gains

Τετ, 25 Ιανουαρίου 2012 - 18:36

ConocoPhillips's (COP) fourth-quarter earnings rose 66% amid gains on asset sales as the oil producer and refiner also continued to benefit from high oil prices.

DEPA Stake Goes on Sale

Τετ, 25 Ιανουαρίου 2012 - 16:46

As the government gears up to get the process of the Public Gas Corporation (DEPA) and gas distribution operator DESFA’s privatization under way on Wednesday, it admitted to the country’s creditors that its likely revenues from state sell-offs this year will be far less than expected.

Europe Southern Gas Corridor Pipeline Race Heats Up

Τετ, 25 Ιανουαρίου 2012 - 12:47

Competition to build Europe's southern gas corridor intensified on Tuesday after two leading pipeline projects said they would welcome cooperation with the Trans Anatolian gas pipeline (TANAP) which aims to pump Azeri gas through Turkey.

Russia 2011 Industrial Production Up 4.7% On Year

Τρι, 24 Ιανουαρίου 2012 - 18:58

Russia's industrial production in was up 4.7% in 2011 from the previous year, the Federal Statistics Agency said Tuesday.

Lukoil's Bulgarian Refinery Gets License Back

Τρι, 24 Ιανουαρίου 2012 - 18:57

Bulgaria's Russian-owned Lukoil Neftochim refinery, the largest in the Balkans, recovered its operating license Tuesday after months of disagreement with customs and revenue authorities, a court said.

IMF: Most Commodity Prices To Fall In 2012

Τρι, 24 Ιανουαρίου 2012 - 18:57

The prices of most commodities will continue to fall in 2012, but oil prices are expected to stay elevated due to fears of supply disruptions, the International Monetary Fund said in its outlook on the global economy.

Petroplus UK Refinery To Run Out Of Crude In A Few Days -MEP

Τρι, 24 Ιανουαρίου 2012 - 18:57

Petroplus Holdings AG's (PPHN.EB) Coryton refinery in Essex, southeast England, has enough crude oil only for a few days of production, said Richard Howitt, the member of the European parliament for the East of England.

PPC-Quantum Proposes Cable Link with Israel

Τρι, 24 Ιανουαρίου 2012 - 14:55

Quantum Energy Ltd, an electricity company controlled by Athens-based Public Power Corporation SA, plans to build a cable connecting Israel to Europe via Cyprus and Greece as demand increases in the region.

Ukraine in Talks with Brazil on Black Sea Fields

Τρι, 24 Ιανουαρίου 2012 - 13:52

Ukraine has started talks with Brazil on joint development of hydrocarbons on the Black Sea shelf, Ukrainian Foreign Minister Konstantin Grishchenko said on Tuesday.

ConocoPhillips Added About 738M Barrels To Reserves In 2011

Δευ, 23 Ιανουαρίου 2012 - 18:23

ConocoPhillips (COP) said it added about 738 million barrels of oil equivalent to its proved reserves in 2011, allowing the oil giant to more than replace oil reserves lost from production.

Iran Lawmakers Repeat Threats To Close Strait Of Hormuz -Agencies

Δευ, 23 Ιανουαρίου 2012 - 18:22

Iranian lawmakers Monday reiterated a threat to block the key Strait of Hormuz, after the European Union agreed to a ban on Iranian oil.