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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.

Bulgaria's Energy Regulator Approves 6.67% Increase in Gas Tariffs

Τετ, 28 Σεπτεμβρίου 2011 - 12:24

Bulgaria's State Energy and Water Regulatory Commission (SEWRC) agreed at a meeting on September 27 2011 to increase natural gas prices by 6.67 per cent to 594.37 leva a 1000 cu m from October 1.

BP Proposes New Route To Bring Azerbaijan Gas To EU

Τρι, 27 Σεπτεμβρίου 2011 - 18:38

BP PLC (BP) has proposed an alternative pipeline project to feed Europe with Caspian natural gas, as the fight among competing pipeline projects heats ahead of a deadline that is being closely watched by European governments and energy companies.

Azerbaijan To Evaluate BP's Europe-Bound Gas Pipeline

Τρι, 27 Σεπτεμβρίου 2011 - 18:37

Azerbaijan's state energy company Socar said Tuesday it will evaluate a new proposal by BP PLC (BP) to feed Europe with Caspian natural gas through an alternative pipeline project.

Return Of Libya Oil Seen Normalizing Brent-WTI Gap

Τρι, 27 Σεπτεμβρίου 2011 - 18:37

The resumption of Libya's oil production should mean the end to record price spreads between Brent and WTI oil prices, says Bank of America Merrill Lynch's Tom Petrie.

Gamesa To Supply 200MW Of Wind Turbines To China's Huadian

Τρι, 27 Σεπτεμβρίου 2011 - 18:36

Spanish wind turbine manufacturer Gamesa Corporacion Tecnologica SA (GAM.MC) said Tuesday it will supply 200 megawatts worth of capacity to Chinese giant power company China Huadian Corp.

Solyndra Gets Final Court Approval To Keep Spending In Chapter 11

Τρι, 27 Σεπτεμβρίου 2011 - 18:36

Embattled solar-panel maker Solyndra LLC reached a deal to ward off a threat to its cash flow and Tuesday won bankruptcy-court approval to keep spending, at least until Nov. 19.

Rosneft May Get Up to 30 pct in Exxon Mobil's Projects

Τρι, 27 Σεπτεμβρίου 2011 - 17:26

Russia's top oil producer Rosneft may get up to 30 percent in ExxonMobil's projects as part of a $3.2 billion agreement signed in August, Glenn Waller, head of Exxon Mobil Russia, said on Tuesday.

EDF and EEN Hellas Complete 24MW Wind Park in Greece

Τρι, 27 Σεπτεμβρίου 2011 - 17:21

French renewables giant EDF Energies Nouvelles has commissioned the 24MW Trikorfo wind farm in Greece. The project, in central Greece, was developed by EEN Hellas, EDF-EN’s local subsidiary. It consists of eight 3MW Vestas wind turbines.

Poland's Pawlak:Europe's Energy Security Depends On Neighbors

Δευ, 26 Σεπτεμβρίου 2011 - 15:33

Europe's energy security does not depend on investments alone and should include countries neighboring the European Union, such as states in North Africa, Poland's Economics Minister Waldemar Pawlak said in an interview with Austrian business newspaper Der Wirtschaftsblatt Monday. Securing Europe's energy is "sometimes about such simple solutions as changing European law to require pipeline operators to work in reverse [to transport natural gas or oil in both directions]," said Pawlak

NMDC Executive: Evaluating Coking Coal Mine In Russia

Δευ, 26 Σεπτεμβρίου 2011 - 15:31

NMDC Ltd. is conducting a due diligence to buy the Vinci coking coal mine in Russia with total reserves of 70 million-100 million metric tons, a senior executive at the state-run Indian company said Monday. "NMDC's team is currently evaluating the mine in Russia and will be back in one-two days. We hope to take a call on this investment by the end of next month," Finance Director S. Thiagarajan told Dow Jones Newswires

Debt Crisis In Some EU States Is A Worry - Qatar Oil Min

Δευ, 26 Σεπτεμβρίου 2011 - 15:29

The debt problems in some countries in the European Union are a worry for oil producers, but the crude market is currently well-supplied, Qatar's state news agency, reported Sunday, citing the country's oil minister. "Oil demand is currently affected by the global economic growth," Mohammed Saleh al-Sada said, according to QNA