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E.ON Profits Fall On Power, Gas Margins; Outlook Cut

E.ON Profits Fall On Power, Gas Margins; Outlook Cut

Τετ, 11 Μαΐου 2011 - 18:58

E.ON AG (EOAN.XE) Wednesday reported a 23% drop in first-quarter operating earnings, saying poor margins in its power generation and gas wholesale business took their toll on profitability.

Kazakhstans KazMunaiGas Pulls Out Of Iraq Field Deal

Kazakhstan's KazMunaiGas Pulls Out Of Iraq Field Deal

Τετ, 11 Μαΐου 2011 - 18:58

Kazakhstan's state fuel producer, KazMunaiGas EP JSC (RDGZ.KZ) has withdrawn from a deal to develop one of Iraq's largest gas fields near the border with Syria, a senior Iraqi oil official said Wednesday.

OPEC: Oil To Stabilize As Supply, Demand In Balance

OPEC: Oil To Stabilize As Supply, Demand In Balance

Τετ, 11 Μαΐου 2011 - 18:58

A good balance between oil supply and demand backed up by adequate inventories and spare production capacity show that last week's big drop in oil prices was "inevitable" and "in line with short-term market fundamentals," the Organization of Petroleum Exporting Countries said Wednesday in its monthly report.

Kosmos Energy IPO Raises More than Expected

Kosmos Energy IPO Raises More than Expected

Τετ, 11 Μαΐου 2011 - 15:24

Oil company Kosmos Energy Ltd, which is known for its discovery of a major oil field in West Africa, raised more than expected in its initial public offering on Tuesday, selling more shares than planned at the top of the proposed price range, an underwriter said.

Energy Firms Face New Efficiency Regime

Energy Firms Face New Efficiency Regime

Τετ, 11 Μαΐου 2011 - 15:22

Energy companies will need to make savings among final customers of 1.5% a year under a new regime of audits, inventories and savings obligations outlined in a draft directive seen by EurActiv.

Turkeys Sale Of Baskent Dolalgas To MMEKA Cancelled

Turkey's Sale Of Baskent Dolalgas To MMEKA Cancelled

Τρι, 10 Μαΐου 2011 - 17:24

The sale of Turkish natural gas distributor Baskent Dogalgaz to MMEKA Makina Ithalat Pazarlama ve Ticaret AS has been cancelled after the joint venture failed to pay the $1.2 billion it bid for a 80% stake in August, Turkey's privatization agency said Tuesday.

RWE CEO: Legal Action Against German Nuclear Tax Likely

RWE CEO: Legal Action Against German Nuclear Tax Likely

Τρι, 10 Μαΐου 2011 - 17:23

RWE AG's (RWE.XE) Chief Executive Juergen Grossmann Monday gave his strongest indication yet that the utility will go to court to fight against the tax on nuclear fuel that the German government introduced at the beginning of the year.

Bids Come In For Swiss Meter Maker Landis&Gyr

Bids Come In For Swiss Meter Maker Landis&Gyr

Τρι, 10 Μαΐου 2011 - 17:22

Swiss electric meter maker Landis&Gyr AG received several bids in the second round of a sale process by Monday's deadline, people familiar with the situation told Dow Jones Newswires Tuesday.

Saudi To Supply Full Term Volumes To Asia For June As Expected

Saudi To Supply Full Term Volumes To Asia For June As Expected

Δευ, 9 Μαΐου 2011 - 17:26

Saudi Arabian Oil Co. will maintain full contracted crude-oil volumes to Asian refiners in June, with some refiners continuing to get higher-than-contracted supplies of lighter grades offset by fewer heavy barrels, executives with the refiners said Monday.

Chinas Xinjiang Region To Build 10 Coal-Fired Power Plants

China's Xinjiang Region To Build 10 Coal-Fired Power Plants

Δευ, 9 Μαΐου 2011 - 17:25

China's northwestern Xinjiang Uyghur Autonomous Region plans to build 10 coal-fired power plants with a combined installed power generation capacity of 6.6 gigawatts, putting its coal resources to work to meet power demand in central and eastern China, the state-run China News Service reported Sunday.

SNC-Lavalin To Sign Deal With Iraq Oil Ministry Tuesday - Official

SNC-Lavalin To Sign Deal With Iraq Oil Ministry Tuesday - Official

Δευ, 9 Μαΐου 2011 - 17:25

The Iraqi Oil Ministry will sign a contract with Canadian engineering and construction company SNC-Lavalin Group Inc. (SNC.T) for advice on constructing oil and gas pipelines from to the Mediterranean Sea through Syria, the ministry's deputy spokesman said Monday.