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Iran Gasoline Demand Drops On Subsidy Elimination

Παρ, 4 Μαρτίου 2011 - 16:44

Iran is set to cut gasoline imports further in the coming months after eliminating energy subsidies, offsetting a seasonal demand uptick, Facts Global Energy says in a research note. Iran's domestic consumption fell 10% on year after the government removed subsidies, so it no longer needs to produce gasoline at petrochemical plants, which tends to be more polluting, it says.

Norway Appoints New Minister Of Petroleum And Energy

Παρ, 4 Μαρτίου 2011 - 16:44

Norway has appointed Ola Borten Moe as its new minister of petroleum and energy, the government said Friday.

Russia Won't Raise Oil Output To Prevent Higher Prices -Report

Παρ, 4 Μαρτίου 2011 - 16:43

Russia won't increase oil production to prevent further price increases due to the crisis in Libya, German magazine WirtschaftsWoche reports in a prerelease Friday, citing Russian Energy Minister Sergei Shmatko.

Nord Stream Secures EUR2.5B Financing For 2nd Pipeline Stage

Παρ, 4 Μαρτίου 2011 - 16:43

Nord Stream AG, the Gazprom (GAZP.RS)-led joint venture building an underwater pipeline from Russia to Germany through the Baltic Sea, said Friday it has secured EUR2.5 billion financing for the second stage of the project.

Libyan Rebels Push West Towards Gadhafi Stronghold

Παρ, 4 Μαρτίου 2011 - 16:43

Libyan rebel fighters pushed further west Friday, driving in haphazard armed convoys as they sought to advance their struggle against loyalists of Moammar Gadhafi.

Sale Of Shah Deniz II Caspian Gas Delayed By Months - Sources

Παρ, 4 Μαρτίου 2011 - 16:42

A significant delay is expected in the sale of natural gas from the Shah Deniz II field in Azerbaijan being developed by a group of major energy companies, people familiar with the situation said.

Isramco Won't Confirm Reports That Shimshon Contains More Gas

Πεμ, 3 Μαρτίου 2011 - 17:09

Energy exploration company Isramco Negev Ltd. Partnership (ISRA.L.TV) declined to confirm reports in Israeli media Thursday that new data have tripled the amount of natural gas expected to be contained in its Shimshon offshore exploration area.

400 U.S. Marines In Greece For Libya Deployment

Πεμ, 3 Μαρτίου 2011 - 17:09

About 400 Marines have been dispatched to a U.S. base in Greece ahead of deployment on warships off Libya, an American military spokesman said Thursday.

GDF Suez Ups 2011 Forecast After International Power Deal

Πεμ, 3 Μαρτίου 2011 - 17:08

French power operator GDF Suez SA (GSZ.FR) Thursday raised its earnings forecast for 2011 following the merger of most of its international operations with U.K.-based International Power PLC (IPR.LN) and a 3.1% jump in 2010 net profits.

Saudi Charters Ships To Bring Crude To Med Amid Unrest-Shipbrokers

Πεμ, 3 Μαρτίου 2011 - 17:08

Saudi Arabian Oil Co., also known as Aramco, is directing its shipping arm to send crude from the Persian Gulf to the Mediterranean, indicating that the world's largest crude exporter is poised to plug the gap in European supplies left by the disruption to Libyan oil production, shipbrokers based in Europe said Thursday.

IEA Chief Says Libya Oil Outages Starting To Impact Europe

Πεμ, 3 Μαρτίου 2011 - 17:07

Unrest in Libya is starting to affect Europe's oil supplies, although no member country of the International Energy Agency has requested the authorization to release strategic oil stocks, International Energy Agency Executive Director Nobuo Tanaka said Thursday.

Total To Buy $4 Billion Novatek Stake, Join Arctic Project

Πεμ, 3 Μαρτίου 2011 - 17:07

French energy giant Total SA (TOT) secured a $4 billion deal to buy a stake in Russian gas producer OAO Novatek (NVTK.RS) and to join a massive Arctic gas project, in another sign that Russia is opening up foreign investments to its vast energy resources.

Iran's Ahmadinejad Warns West Against Military Action In Libya

Τετ, 2 Μαρτίου 2011 - 16:59

Hardline Iranian President Mahmoud Ahmadinejad Wednesday warned the U.S. against military intervention in Libya, saying such action would create a graveyard for its soldiers.

UAE Oil Pipeline Skipping Hormuz To Start Mid Year - Source

Τετ, 2 Μαρτίου 2011 - 16:59

Abu Dhabi will start pumping first crude oil by mid-year through a new giant pipeline that will enable it to bypass the strategic Strait of Hormuz waterway by exporting as much as 1.8 million barrels a day of crude via the neighboring emirate of Fujairah, where plans for a grassroots refinery are also regaining momentum, a person close to the situation said.

EU Barroso: Must Reshape Relationship With North Africa

Τετ, 2 Μαρτίου 2011 - 16:58

The European Union must reshape its relationship with North Africa, targeting help toward countries that improve the rule of law and making more resources available to the region, European Commission President Jose Manuel Barroso said Wednesday.

China To Connect 20GW Wind Energy To Grid In 2011

Τετ, 2 Μαρτίου 2011 - 16:58

China will connect 20 gigawatts of wind energy capacity to its power grid this year, Xinhua News Agency reports Wednesday citing Chinese power distributor State Grid Corp.