English Edition

Siberian Court Rejects TNK-BP Shareholders' Appeal Against BP

Τετ, 21 Δεκεμβρίου 2011 - 18:54

A Siberian arbitration court said Wednesday it had rejected an appeal by minority shareholders in BP PLC's Russian joint venture, OAO TNK-BP Holding, in a $2.8 billion lawsuit, marking a small victory for the U.K. oil major. The plaintiffs--led by Andrey Prokhorov who owns a 0.0000106% stake in TNK-BP--claim two BP-appointed directors on the TNK-BP board unlawfully blocked the company's efforts to promote itself rather than BP as a partner of state-controlled oil company OAO Rosneft in an Arctic exploration alliance that collapsed in May

Italian Edison Holders To Make New Split-Up Offer To EDF

Τετ, 21 Δεκεμβρίου 2011 - 18:52

Italian shareholders in utility Edison SpA will make a new offer to Electricite de France SA to split up Edison at a board meeting Wednesday, two Edison shareholders said Wednesday. The proposed agreement would swap investment vehicle Delmi's 30% stake in Edison, Italy's second-largest utility, in exchange for Edipower, a company that owns nine power plants with a 6,000-megawatt generating capacity

Shell: 319 Barrels Of Drilling Fluid Leaked Into Gulf Of Mexico

Τρι, 20 Δεκεμβρίου 2011 - 19:34

Royal Dutch Shell PLC said Monday it had temporarily abandoned a deepwater well in the Gulf of Mexico after it spilled 319 barrels of fluid used to drill the well. A company spokeswoman said the leak on its Deepwater Nautilus rig occurred Sunday while drilling the well in about 7,200 feet of water southeast of New Orleans. Shell said it has stopped the leak and will temporarily abandon the well while it makes repairs, said spokeswoman Kelly op de Weegh. She did not have an estimate of how long the repairs would take

A2A, Iren Aim To Create Diversified Utility After Exchanging Edison Holdings

Τρι, 20 Δεκεμβρίου 2011 - 19:26

A2A SpA and Iren SpA, Italian utilities and major shareholders of Edison SpA, are willing to give up their holdings in Edison in exchange for all the assets of Edipower, which include hydroelectricity plants and combined cycle gas plants, and even taking on its EUR1.1 billion debt, La Repubblica reported in its Internet edition Tuesday, without citing sources

Gazprom More Than Doubles 2011 Dividends

Τρι, 20 Δεκεμβρίου 2011 - 19:24

Russian state-controlled gas producer OAO Gazprom said Tuesday it would more than double dividend payments this year, in a sign that the government is seeking more cash from state companies to fill a budget deficit. Gazprom--the world's biggest producer of natural gas--said its board will recommend a total dividend payout of 198.62 billion rubles ($6.19 billion) or RUB8.39 per share. The company paid RUB91 billion in dividends to shareholders in 2010

U.S. Oil Majors' Spending Sparks Concerns About Higher Costs

Δευ, 19 Δεκεμβρίου 2011 - 18:54

Major U.S. oil companies are set to spend more than ever next year, as they bolster funding for massive projects world-wide. But the outlays are raising concerns that the multibillion-dollar budgets are being driven by labor, materials and currency costs.

Residents Around Japan Plant Could Start To Return In April

Δευ, 19 Δεκεμβρίου 2011 - 18:54

Japan's minister in charge of the Fukushima Daiichi nuclear power plant disaster said Monday that under a revised evacuation plan announced over the weekend, some residents may begin to return home in stages as early as next April.

Total Signs Offshore Oil Exploration Deal With Mauritania

Δευ, 19 Δεκεμβρίου 2011 - 18:53

Mauritania has signed an agreement with French oil group Total SA (TOT) to explore for oil at sea and to extract any oil discovered, the official Mauritanian information agency reported Monday.

North Korea Test-Fires Short-Range Missiles

Δευ, 19 Δεκεμβρίου 2011 - 18:53

North Korea test-fired two short-range missiles off its east coast on Monday, the same day it announced the death of leader Kim Jong-Il, South Korea's Yonhap news agency said.

France To Launch Security Inspections At All Nuclear Sites

Δευ, 19 Δεκεμβρίου 2011 - 18:53

France will launch a security review at all the country's nuclear sites following a recent break-in by Greenpeace protesters, French Prime Minister Francois Fillon said Monday.

Gulf Leaders Gather For Summit In Saudi Capital

Δευ, 19 Δεκεμβρίου 2011 - 18:52

Leaders of wealthy Gulf Arab states Monday gathered in Riyadh for the opening of their annual summit, against a backdrop of regional turmoil and growing fears of Iran.

Serbia to Renew Russian Gas Contract by 10 Years

Δευ, 19 Δεκεμβρίου 2011 - 17:55

Serbia may sign a new, 10-year contract with OAO Gazprom for gas imports from Russia in Dec. 22, Politika newspaper reported, citing the chief of Serbia’s national gas company.

Noble Update on Leviathan Disappoints

Δευ, 19 Δεκεμβρίου 2011 - 17:54

Last week, Noble Energy announced that drilling of the Leviathan 3 well was complete. Today, the US company issued an updated estimate of the reserves in the Leviathan field, of 17 TCF (trillion cubic feet), which compares with a previous estimate of 16 TCF.

Gazprom Agrees To Buy 3 BCM Of Gas From Azerbaijan In 2012

Παρ, 16 Δεκεμβρίου 2011 - 19:50

Russian state gas firm OAO Gazprom will increase imports of natural gas from Azerbaijan to 3 billion cubic meters in 2012, the company said late Thursday. Gazprom imported 800 million cubic meters from Azerbaijan's state energy company Socar in 2010, and had bought 1.36 billion cubic meters between January and November this year, Gazprom said

Oil Majors in Iraq Set Sights High, Add More Muscle

Παρ, 16 Δεκεμβρίου 2011 - 19:48

Oil companies active in the south of Iraq have beefed up security to deal with fears over the security implications of the U.S. troop withdrawal, but they say the pullout hasn't caused them to change plans to significantly ramp up production. "We have to wait and see.... If the security situation deteriorates that means we will hire more security personnel to protect us," said an executive of one of the oil majors

Fuel Oil Prices Seen Rising In 2012 On Increased Japan Demand

Παρ, 16 Δεκεμβρίου 2011 - 19:46

European fuel oil prices are expected to strengthen next year from current lows on strong demand from Japan and China for power generation and tighter supplies due to a new tax regime in Russia, according to analysts and traders. Prices in Europe could rise in the coming months to more than the $660 per metric ton level seen in July when power producers were restocking ahead of peak autumn industrial demand, analysts and traders said