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Novatek 1Q Net Profit Up 69% To RUB18.9 Bln On Higher Sales

Novatek 1Q Net Profit Up 69% To RUB18.9 Bln On Higher Sales

Παρ, 13 Μαΐου 2011 - 17:06

OAO Novatek (NVTK.RS), Russia's biggest independent natural gas producer, Friday said first-quarter net profit rose 69% to 18.85 billion rubles ($677.0 million) due to higher oil and gas sales, cost optimization and foreign exchange gains.

Petrobras 1Q Profits Likely Hindered By Pricing

Petrobras 1Q Profits Likely Hindered By Pricing

Παρ, 13 Μαΐου 2011 - 17:05

Benefits of high oil prices on Petrobras' (PBR) 1Q earnings will likely be mitigated by the government's pricing policy, says Deutsche Bank. The refining division should report EBITDA just shy of break even, as higher crude oil wasn't fully passed through to consumers due to price controls, firm says.

BP Faces Arctic Pact Lawsuit

BP Faces Arctic Pact Lawsuit

Παρ, 13 Μαΐου 2011 - 16:02

A minority shareholder in BP's Russian venture TNK-BP reportedly intends to sue the UK supermajor in a Siberian court over its alliance with Rosneft.

DryShips Wins Petrobras Race

DryShips Wins Petrobras Race

Παρ, 13 Μαΐου 2011 - 16:01

Greek player DryShips has won the race to provide deep-water drilling rigs to Brazilian oil giant Petrobras in two deals worth $1.1 billion.

Shell Says Eliminating Oil Tax Breaks Will Affect Supply, Prices

Shell Says Eliminating Oil Tax Breaks Will Affect Supply, Prices

Πεμ, 12 Μαΐου 2011 - 17:19

As Democrats look to repeal tax breaks given to the oil and gas industry, Royal Dutch Shell PLC (RDSA, RDSA.LN, RDSB, RDSB.LN) President Marvin Odum said in congressional testimony Thursday that lawmakers may think "there is something to gain by taking more from a few," but that they should consider the effects of higher taxes "on both supply and price" of oil.

Russian Court Rejects TNK-BP Holder Motion Against BP

Russian Court Rejects TNK-BP Holder Motion Against BP

Πεμ, 12 Μαΐου 2011 - 17:19

A Russian court has rejected a TNK-BP Holding (TNBP.RS) shareholder motion seeking access to documents in computers of the company and BP (BP.LN), Interfax reports Thursday, citing the court's spokesman.

Repsol Profit +29% On Higher Oil Prices, LNG Unit

Repsol Profit +29% On Higher Oil Prices, LNG Unit

Πεμ, 12 Μαΐου 2011 - 17:18

Spanish oil firm Repsol YPF SA (REP.MC) Thursday posted a 29% jump in first-quarter net profit, excluding inventory effects, on higher oil prices and a soaring contribution from its liquefied natural gas business.

Offshore Wind Can Shed Subsidy in 10-15 Years: Study

Offshore Wind Can Shed Subsidy in 10-15 Years: Study

Πεμ, 12 Μαΐου 2011 - 14:17

Offshore wind power technology will become economic without state subsidies in 10-15 years' time, most government bodies said in a survey published on Thursday by consultancy PwC.

Nuclear Plants Across Europe Face 9/11 Test

Nuclear Plants Across Europe Face 9/11 Test

Πεμ, 12 Μαΐου 2011 - 14:16

The 143 nuclear power plants operating in Europe, plus the six under construction and the 15 planned, should be able to withstand any possible threat, including a malicious plane crash like the 9/11 terrorist attacks in the US, the European Commission announced.

Yingli Sees Surprise Sequential Drop In 1Q Shipments

Yingli Sees Surprise Sequential Drop In 1Q Shipments

Τετ, 11 Μαΐου 2011 - 19:00

Yingli Green Energy Holding Co. (YGE) said it expects to report a surprise drop in shipments for the first quarter from the fourth quarter because of subsidy policy changes in Italy, joining other companies in the solar-energy sector that have warned of disappointing results in recent days.