English Edition

Gas Deposits Fuel Old and New Rivalries

Πεμ, 29 Σεπτεμβρίου 2011 - 16:50

Things have never been too tranquil in this corner of the Mediterranean, and the recent discovery of large deposits of gas beneath the waters off Israel and Cyprus hasn’t made things any easier. You can almost hear the tectonic plates of regional politics shifting — and Nicosia’s recent decision to drill for hydrocarbons off the divided island’s southern coast has only accelerated the process.

ExxonMobil To Start Fracking At Second Shale Gas Well In Poland

Τετ, 28 Σεπτεμβρίου 2011 - 18:44

ExxonMobil Corp. (XOM) plans to start hydraulic fracturing next week on its second test well in Poland, near the eastern town of Siennica, Jim Johnston, board member of ExxonMobil Exploration and Production Poland, said Wednesday.

GE Announces $100 Mln China Gas Innovation Fund

Τετ, 28 Σεπτεμβρίου 2011 - 18:44

General Electric Co. (GE) Wednesday announced a $100 million contest in China to fund innovative gas-energy projects, similar to the company's previous innovation programs in the U.S.

Eni To Shut Venice Refinery For 6 Mos Due Weak Margins-Trade

Τετ, 28 Σεπτεμβρίου 2011 - 18:44

Italian oil giant Eni SpA (E) will shut its 80,000 barrel-a-day Porto Marghera refinery near Venice for six months, starting Nov. 1, under pressure from an absence of Libyan crude exports and weak profit margins, traders said Wednesday.

Iranian Lawmakers Criticize Saudi Role In Yemen, Bahrain

Τετ, 28 Σεπτεμβρίου 2011 - 18:43

More than 200 Iranian lawmakers issued a joint statement on Wednesday criticizing what they called Saudi Arabia's "role" in suppressing protests in Bahrain and Yemen, the parliament's website reported.

Enel Board Approves EUR0.10/Share Advanced Div Payment On 2011

Τετ, 28 Σεπτεμβρίου 2011 - 18:43

Enel SpA (ENEL.MI) Wednesday said its board had approved an advanced dividend payment on the Italian utility giant's 2011 results equivalent to EUR0.10 per share.

Shah Deniz Consortium To Evaluate BP's Europe-Bound Gas Pipeline

Τετ, 28 Σεπτεμβρίου 2011 - 18:42

A BP PLC (BP) led consortium working on Azerbaijan's Shah Deniz natural gas field said Tuesday it will evaluate a new proposal by the U.K. oil major to feed Europe with Caspian natural gas through an alternative pipeline project.

Searches Conducted in Gazprom Offices in EU

Τετ, 28 Σεπτεμβρίου 2011 - 16:35

Representatives of the European Commission on Tuesday conducted unannounced searches in the offices of Gazprom in Central and Eastern Europe and in the offices of a number of European energy companies, the German media reported.

Price of Heating Oil Set to Soar

Τετ, 28 Σεπτεμβρίου 2011 - 16:35

Consumers will have to pay almost 50 percent more for their heating oil this winter, oil traders suggested Tuesday, as the estimated price of the essential commodity is set to soar from 0.65-0.70 euros per liter last year to about 1 euro/lt when sales start on October 15.

Greece Moves Ahead with Hydrocarbon Exploration

Τετ, 28 Σεπτεμβρίου 2011 - 14:53

As the Greek government is scrambling hard to avoid a looming default and eventual exit from the euro, the need for the state to raise much needed revenue, even on a long term basis, seems to have acted as a catalyst in its effort to accelerate plans for hydrocarbon exploration and production. Greece, which consumes some 380,000 barrels of oil daily, relies on crude imports for 99.5 per cent of this quantity with the result that more than 5% of its GDP is spend on oil purchases.

Noble Energy has Revised Drilling Plans in the Offshore Eastern Mediterranean

Τετ, 28 Σεπτεμβρίου 2011 - 12:25

Noble Energy, Inc. (NYSE: NBL) announced on Tuesday that it has revised drilling plans for the three deepwater rigs it has under contract in the offshore Eastern Mediterranean. The Ensco 5006 rig (formerly the Pride North America), which has experienced multiple subsea equipment issues, will move off the Leviathan #3 well to have repairs performed to its riser system.