English Edition

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

Gold Edges Higher On Caution Ahead Of Greek Vote

Τρι, 28 Ιουνίου 2011 - 17:51

Gold futures edged back above $1,500 an ounce Tuesday, but showed little decisive direction as traders were reluctant to take positions ahead of Greece's closely watched vote on austerity measures. The most actively traded contract, for August delivery, was recently up $3.70, or 0.3%, at $1,500.10 a troy ounce on the Comex division of the New York Mercantile Exchange

Russia To Adopt Unified Oil Export Duties In Summer

Δευ, 27 Ιουνίου 2011 - 18:06

Russia this summer will introduce a unified export duty on crude and refined oil products, Energy Minister Sergei Shmatko said Monday on state television. The proposal would cut export duty on crude oil to a marginal rate of 60%, from 65% previously, while adjusting duties on refined products to 66% of the level of crude oil

Crude Prices Decline As Greece, IEA Weigh

Δευ, 27 Ιουνίου 2011 - 17:12

Oil futures declined Monday, as Greece's debt crisis and the decision to tap global oil reserves continued to weigh on prices. Light, sweet crude for August delivery traded down $1.11, or 1.3%, to $90.05, on the New York Mercantile Exchange. Brent crude on the ICE Futures Europe exchange fell $1, or 0.1%, to $104.12 a barrel

CNPC: Iraq Ahdab Oil Field With 60,000 B/D Capacity Now Online

Δευ, 27 Ιουνίου 2011 - 17:10

China National Petroleum Corp. said Monday that it has brought online the Ahdab oil field in Iraq. The field's annual production capacity is 3 million metric tons or around 60,000 barrels a day. CNPC won a $3 billion contract two years ago to develop the field--the first major oil development deal with Iraq since the fall of Saddam Hussein in 2003

Top Russian Officials Removed From Board Of State Power Firm

Παρ, 24 Ιουνίου 2011 - 19:08

Russia's two top energy officials, Deputy Prime Minister Igor Sechin and Energy Minister Sergei Shmatko, Friday failed to be re-elected to the board of state electricity monopoly InterRAO (IRAO.RS).

IEA May Have Strayed From Mission In Oil Stock Release -Analysts