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China's 2nd West-East Gas Pipeline Comes Online Thursday

Πεμ, 30 Ιουνίου 2011 - 19:14

China's second West-East natural gas pipeline comes online Thursday, bringing gas imports from Central Asia to 15 provinces and autonomous regions, the state-controlled Xinhua news agency reported. The CNY142.2 billion ($21.97 billion) pipeline, which links the northwestern Xinjiang Autonomous Region to Shanghai in the east and Guangzhou and Hong Kong in the south, has an annual transmission capacity of 30 billion cubic meters and will be able to operate for more than 30 years, Xinhua said

Poland PGNiG Plans PLN27B Investment, Over Half On Upstream

Πεμ, 30 Ιουνίου 2011 - 19:12

Poland's natural gas monopoly PGNiG SA plans to invest about 27 billion zlotys ($9.8 billion) through 2015, over half of which will be spent on ramping up the company's exploration and extraction of conventional and unconventional hydrocarbons. Under a revised strategy, PGNiG, or Polskie Gornictwo Naftowe i Gazownictwo, is aiming to increase annual domestic production of natural gas by 9% to 4.5 billion cubic meters and to double domestic crude oil production to 1 million metric tons, while continuing to expand exploration and extraction activity abroad

Moscow Stocks Close Higher

Πεμ, 30 Ιουνίου 2011 - 19:10

1509 GMT [Dow Jones] Micex ends 0.4% higher at 1666.59, most stocks moving very little with the price of Brent crude relatively constant. Gazprom gains 1.2% as PM Putin says the company's Bovanenkovo project may produce 115B cubic meters of gas by 2016. Lukoil ends the session +1.2%. Despite the climb in Micex, some market experts are worried about the immediate future for Russian stocks

Qatargas Talks On LNG Supplies To China Making Slow Progress

Πεμ, 30 Ιουνίου 2011 - 19:09

Despite signing preliminary agreements almost two years ago to sell more liquefied natural gas to China, Qatar Liquefied Gas Co. has yet to sign contracts with Cnooc Ltd. (CEO) or PetroChina Co. (PTR), Qatargas' chief representative in Beijing said Thursday. Qatargas has received approval from China's National Development and Reform Commission to negotiate with Cnooc, but still isn't authorized to begin talks with PetroChina, Qatargas' Abdulla Hijji said on the sidelines of a conference in Beijing. Qatargas is the Gulf country's largest producer of LNG

Iraq Signs $365M Gas Pipeline Deal With Iran

Πεμ, 30 Ιουνίου 2011 - 19:02

The Iraqi electricity ministry signed Thursday a contract worth $365 million with an Iranian company nominated by the Tehran government to build a gas pipeline to supply Iraqi power plants with Iranian gas, the ministry spokesman said Thursday. Musaab Al Mudaris said the pipeline would carry some 25 million cubic feet of Iranian gas a day that would be enough to generate some 2,500 megawatts

Swiss Nuclear Plant Muehleberg to Go Offline 5 Weeks Early

Τετ, 29 Ιουνίου 2011 - 17:23

Swiss nuclear plant Muehleberg will go offline around five weeks earlier than planned, starting Thursday, the plant's operator BKW FMB Energie AG (BKWN.EB) said Wednesday.

RWE Won't Alter Strategy Despite German Nuclear Exit

Τετ, 29 Ιουνίου 2011 - 17:22

RWE AG won't drastically alter its strategy despite its home market's decision to accelerate the exit from nuclear energy, significantly affecting its share price as investors lost trust in the company, said RWE Chief Commercial Officer Leonhard Birnbaum Wednesday.

UAE Finance Minister: No Concern over Oil Price Moves, no Federal Bond in '11

Τετ, 29 Ιουνίου 2011 - 17:14

The United Arab Emirates, the second-largest Arab economy, isn't concerned about recent oil price fluctuations and won't issue any federal sovereign bonds before 2012, the country's finance minister said.

OPEC Secretary General Calls on IEA to Avoid More Oil Releases

Τετ, 29 Ιουνίου 2011 - 17:10

OPEC's top official said Wednesday he wants to mend fences with the International Energy Agency and avoid a repeat of an oil stockpiles release that has strained consumer-producer relations.

Russia Shuts Off Electricity Shipments to Belarus

Τετ, 29 Ιουνίου 2011 - 17:08

Russia's state electricity monopoly InterRao (IRAO.RS) cut power supplies to cash-strapped Belarus on Wednesday over $43 million of unpaid bills, deepening an economic crisis that has eroded support for the country's authoritarian president, Alexander Lukashenko.

Russia's Medvedev Calls For Higher Taxes On Gas Industry

Τετ, 29 Ιουνίου 2011 - 17:07

Russian President Dmitry Medvedev said Wednesday that he favors raising taxes on the gas industry to help close the country's budget gap.

Romania Loses Lawsuit Against Kazakh Oil Group

Τρι, 28 Ιουνίου 2011 - 18:21

Romania has lost a lawsuit against Rompetrol, the country's second-largest oil group, over a EUR500 million debt, the group said Tuesday. A court in Constanta, eastern Romania, ruled that Rompetrol had paid its debt. The government, which hasn't commented on the ruling, has 15 days to appeal

Iraq's Kirkuk Buys Electricity From Kurdish Region

Τρι, 28 Ιουνίου 2011 - 18:19

Iraq's oil-rich Kirkuk province has started buying electricity from a private supplier in autonomous Kurdistan, its governor said Tuesday, after a spat with Baghdad over power shortages. "We have a signed contract to solve the electricity problem in Kirkuk during the summer through buying 200 megawatts from a supplier in Kurdistan," said Rakan Saeed al-Juburi, the governor of Kirkuk