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Gazprom Expects Contract Gas Prices for Europe to Rise

Τετ, 27 Απριλίου 2011 - 17:53

Top Russian gas firm Gazprom (GAZP.MM) expects its gas prices for Europe in long-term contracts to average $500 per thousand cubic metres by December, above planned levels, its chief executive told reporters.

First Quarter Lower for BP

Τετ, 27 Απριλίου 2011 - 17:52

Supermajor BP has posted a replacement cost (RC) first quarter profit of $5.48 billion, down 2.1% on the $5.6 billion recorded for the first quarter 2010, after it was forced to sell assets to pay for the Gulf of Mexico oil spill.

Thai Energy Min: To Delay Planned Development Of Nuclear Power Plants

Τετ, 27 Απριλίου 2011 - 17:51

Thailand will delay the commercial startup of five planned nuclear power plants by three years because of safety concerns following the nuclear crisis in Japan, Energy Minister Wannarat Charnnukul said Wednesday.

TNK-BP Exec: Not Planning Lawsuits Against BP

Τετ, 27 Απριλίου 2011 - 17:51

TNK-BP Ltd., Russia's third-largest oil producer, isn't considering any lawsuits against U.K. oil major BP PLC (BP), its 50% partner in the joint venture, and is no longer chasing participation in a deal signed between BP and OAO Rosneft (ROSN.RS), TNK-BP's chief financial officer said Wednesday.

TNK-BP: Artificially Low Fuel Prices Hurt 1Q Profits

Τετ, 27 Απριλίου 2011 - 17:50

Russia's third biggest oil producer TNK-BP Ltd. said Wednesday margins on domestic retail sales remains low due to pressure from authorities to keep gasoline prices artificially low, which resulted in lost profits of $54 millions in the first quarter.

Norway Oil Well Incidents Up At 28 In '10 From 11 In '08-Safety Body

Τετ, 27 Απριλίου 2011 - 17:50

A rise in well control incidents to 28 in 2010 from 11 in 2008 and a continued high number of gas leaks in 2010 need to be tackled in a more purposeful manner to reverse the trend, the Petroleum Saftey Authority Norway said Wednesday.

PetroChina Net Profit Up 14% On Higher Oil Prices

Τετ, 27 Απριλίου 2011 - 17:50

PetroChina Co. (PTR), the largest listed Chinese oil firm by capacity, said Wednesday its first-quarter net profit rose 14% from a year earlier on increased output and higher crude oil prices.

Eni Net Profit Up 15%; Sees Lower 2011 Output On Libya

Τετ, 27 Απριλίου 2011 - 17:49

Eni SpA (E) Wednesday said first-quarter net profit rose 15% on the year, lifted by higher crude prices, despite lower hydrocarbon output as it had to slash Libyan production due to the civil war in the North African country.

BP's Russia Partner Hints Possible Sale Of TNK-BP Stake

Τρι, 26 Απριλίου 2011 - 17:26

BP PLC's (BP) partners in the Anglo-Russian oil joint venture TNK-BP Ltd. Tuesday indicated that a sale of their 50% stake in the company is possible, saying they have still to receive an "interesting proposal" from any buyer, the BBC reports.

China To Limit Corn Use In Biofuel, Other Non-Feed Projects

Τρι, 26 Απριλίου 2011 - 17:25

China will limit alcohol, biofuel and other non-animal-feed projects that use grain and edible oils as raw materials in an effort to secure grain supplies, China's top economic planner said Tuesday.

Medvedev Proposes New Global Convention For Nuclear Safety

Τρι, 26 Απριλίου 2011 - 17:25

Russian President Dmitry Medvedev said Tuesday he had drawn up proposals for a new convention on nuclear safety, 25 years on from the Chernobyl disaster.

Eni's 2011 Output From Libya Seen Sharply Lower

Τρι, 26 Απριλίου 2011 - 17:24

Eni's (E) hydrocarbon production from Libya is expected to show a significant fall this year as a result of the military conflict there, says Bernstein Research.

PM Berlusconi Hopes Italy Nuclear Project To Resume In 1-2 Years

Τρι, 26 Απριλίου 2011 - 17:24

Italian Prime Minister Silvio Berlusconi said Tuesday he hopes the country will resume its nuclear comeback in a year or two after the government introduced a 12-month moratorium because of the atomic crisis in Japan.

Russia Faces Oil Quality Problems - State Study

Τρι, 26 Απριλίου 2011 - 17:23

The quality of Russian crude is deteriorating sharply, with the world's largest oil producer also doing a poor job replenishing depleting reserves, a government study warned Tuesday.

Dubai Considers Potential for Gas Hub

Τρι, 26 Απριλίου 2011 - 15:20

Delegates at Dubai’s Global Energy Forum have learned that state-owned Dubai Supply Authority (Dusup) is considering the possibility of establishing a natural gas trading hub in the Emirate.

Libya: NOC Protests Over Qatar's Role in Rebel Oil Sales

Τρι, 26 Απριλίου 2011 - 15:20

The chairman of Libya's National Oil Corp. sent a letter of protest to the Organization of Petroleum Exporting Countries about the help fellow member Qatar is giving to Libyan rebels with sales of oil.