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Yingli Solar PV Modules Installed in the Largest Solar Plant in Greece

Δευ, 1 Αυγούστου 2011 - 11:34

Yingli Green Energy Holding Company , a leading solar energy company which markets its products under the brand "Yingli Solar," announced that its PV modules have been installed in the largest solar plant in Greece. The 10 MW utility-scale solar project is located in Larissa, Greece and is expected to produce enough energy to power approximately 3,700 homes in the area.Yingli Green Energy is the exclusive PV module supplier for the project.

Imperial Oil 2Q Profit Up On Higher Crude Prices

Πεμ, 28 Ιουλίου 2011 - 19:22

Imperial Oil Ltd. reported a 40% increase in second-quarter earnings and said its big Kearl oil-sands project in Alberta remains on track. The integrated oil and gas company, based in Calgary and controlled by Exxon Mobil Corp., earned a higher profit of C$726 million or 85 Canadian cents a share in the latest quarter, citing higher crude oil prices, stronger industry refining margins and increased Cold Lake bitumen production. However, higher royalty costs, lower Syncrude volumes and the stronger Canadian dollar weighed on results

Exxon Shuts Down Some US Gulf Oil,Gas Output Due To Tropical Storm Don

Πεμ, 28 Ιουλίου 2011 - 19:21

Exxon Mobil Corp. said Thursday that it is shutting down production of about 8,000 barrels of oil and 50 million cubic feet a day of natural gas in anticipation of the passage of Tropical Storm Don through the western U.S. Gulf of Mexico. A spokesman for the world's largest publicly traded company said that Exxon is evacuating nonessential personnel from offshore facilities in the path of the storm

Eni Discovers Gas At New Offshore Well In Indonesia

Πεμ, 28 Ιουλίου 2011 - 19:20

Italian energy giant Eni SpA Thursday said it had made a new gas discovery at a well off the shore of Indonesia. Eni successfully drilled an exploration well in the KuteiBasin, offshore Indonesia, at Jangkrik North East 1 NFW

Iraq Akkas Gas Field Development Deal Likely To Be Finalized In August

Πεμ, 28 Ιουλίου 2011 - 19:20

Korea Gas Corp., or Kogas, will likely sign the final contract to develop one of Iraq's largest gas fields in August instead of July as had been previously expected, said an official with the South Korean state-run company Thursday. The initial contract--signed on June 1--hasn't received approval from the Iraq Cabinet yet, which is expected to happen next month, said Yoo Jeong-don, general manager of Iraq project group in Kogas, by phone

Neftochim: Moscow Smells Economic War

Πεμ, 28 Ιουλίου 2011 - 19:18

By suspending the license of the largest refinery on the Balkans, LUKOIL, Bulgaria's government cast a heavy blow on Moscow's interests in the region, Russian media wrote yesterday. LUKOIL Neftochim has a processing capacity of 142,000 barrels of crude oil a day. Half of its production is for domestic consumption and the other half is exported to third countries - Bulgaria's neighbors, USA and Asia, the New Region daily writes

Saipem Net Profit Up 14% At EUR225 Mln

Τετ, 27 Ιουλίου 2011 - 19:59

Saipem SpA, Europe's biggest oil services company by market value, Wednesday said second-quarter net profit rose 14%, slightly more than expected, on the year, as it benefited from its strong order book and a good performance from the onshore segment, allowing it to confirm 2011 targets. Saipem, which is 43%-controlled by Italian oil firm Eni SpA, said net profit climbed to EUR225 million for the three months ending June 30 from EUR198 million for the same period last year, while revenue added 12% to EUR3.07 billion. Operating profit increased 10% to EUR364 million over the period

Moody's: Limited Impact On European Insurers' Capitalisation From Proposed Greek Bond Exchange

Τετ, 27 Ιουλίου 2011 - 19:57

The following is a press release from Moody's Investors Service: “Although the IIF financing offer will crystallise losses in the income statements of some insurers, Moody's believes that it will have a limited impact on the overall capitalisation of the European insurance sector because (i) the sector has limited exposure to Greek sovereign debt, and (ii) the value of government bonds for most of the sector is already marked to market

Hess Announces Exploration Agreement in Kurdistan Region of Iraq

Τετ, 27 Ιουλίου 2011 - 19:56

Hess Corporation announced today that, in partnership with Petroceltic International PLC, it has signed production sharing contracts with the Kurdistan Regional Government of Iraq for its Dinarta and Shakrok exploration blocks. Hess is the operator and has a 64 percent participating interest and 80 percent paying interest in the blocks, which are located northeast of Erbil and cover a combined area of 670 square miles (1,737 square kilometers). Each PSC has an initial three-year exploration period in which the joint venture plans to acquire 2D seismic and drill at least one exploration well

BP Restarts Work At Chirag Caspian Sea Oil Platform

Τετ, 27 Ιουλίου 2011 - 19:55

U.K. oil major BP PLC has successfully completed maintenance work at the Chirag platform in the Caspian Sea and will restore exports through the Baku-Sapsa pipeline in the coming days, the company said Wednesday. The Chirag platform produced 80,000-85,000 barrels of oil a day before maintenance work began July 10. BP operates Azerbaijan's Azeri-Chirag-Guneshli block in the Caspian Sea in a consortium that includes Chevron Corp., Statoil ASA, Inpex Corp. and Itochu Corp

Lukoil Ordered to Stop Operations in Bulgaria

Τετ, 27 Ιουλίου 2011 - 19:51

А decision has been issued by the State Customs Agency terminating the license of Nefothim Burgas to operate the so-called excise storage facilities. The decision pertains also to the oil terminal "Rosenets," both property of the Lukoil Bulgaria company. The news was reported by the TV channel bTV Wednesday morning

Italian Consortium To Build Iraqi Refinery

Τρι, 26 Ιουλίου 2011 - 23:19

An Italian consortium will build and operate a 200,000-barrels-a-day refinery in central Iraq as part of a drive to boost fuel supply, the country's deputy oil minister said Tuesday. Ahmad al-Shammaa told Dow Jones Newswires the preliminary agreement is valid for six months, during which time the consortium should make progress on securing finance and equipment to build the project in Kerbala province, some 100 kilometers south of Baghdad

No Extra Capex Needed To Produce New Brazil Reserves

Τρι, 26 Ιουλίου 2011 - 23:18

Almost all of the extra 3 billion barrels equivalent of oil and gas reserves BG Group PLC added in Brazil last month reside in prior discoveries that can be produced without additional capital expenditure, Chief Executive Frank Chapman said Tuesday

BP Shares Drop After Earnings Miss Expectations

Τρι, 26 Ιουλίου 2011 - 23:16

BP PLC faced fresh scrutiny from investors Tuesday after quarterly earnings beat last year's level but came in below expectations following a big drop in oil and gas production. BP posted a 12% rise in adjusted profit for the second quarter as it benefited from higher crude prices and better refining margins. But oil and gas production fell a whopping 11% compared with the 2010 quarter due in part to anemic output in the Gulf of Mexico and unexpected maintenance in the North Sea and Angola

Dow Chemical, Aramco To Build $20B Saudi Chemicals Complex

Τρι, 26 Ιουλίου 2011 - 23:14

Saudi Arabian Oil Co. and Dow Chemical Co. on Monday outlined plans to build one of the world's largest chemicals plants in the Gulf kingdom and float the $20 billion joint venture ahead of its planned start-up in 2015. The partners will spend around $12 billion building the plant, located at Jubail on Saudi Arabia's Persian Gulf coast, producing high-margin chemicals and plastics for fast-growing Asian and Middle East markets, with another $8 billion earmarked for third-party investors and contingencies

Gazprom Outlook Positive on Europe - Renaissance

Δευ, 25 Ιουλίου 2011 - 17:47

Gazprom's market conditions in Europe are improving as a result of nuclear power restrictions, despite it agreeing price discounts with Edison, says Renaissance Capital. "While providing discounts to one European customer may be interpreted by the market that Gazprom's export strategy based on long-term oil-indexed contracts could be changing, we think that market conditions in Europe could be changing in favor of Gazprom," it notes