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Bharat Petroleum Starts 120,000 Bbl/Day Central India Refinery

Παρ, 20 Μαΐου 2011 - 17:24

Bharat Petroleum Corp. (500547.BY) Friday formally initiated commercial operations at its new 120,000-barrel-a-day refinery in central India that will allow it to sell fuel products in the country's north and take its total refining capacity to 30.5 million metric tons a year.

IEA Could Swap Light For Heavy Crude -JPMorgan

Παρ, 20 Μαΐου 2011 - 17:23

A major release of emergency crude stocks this summer by the IEA this summer would be politically tricky, but the agency could take targeted action to ease the shortage of light, sweet crude following the loss of Libyan supplies, says JPMorgan analyst Lawrence Eagles.

Iraq, Third Largest Oil Reserves Holder - Oil minister

Παρ, 20 Μαΐου 2011 - 15:34

Iraq’s oil minister Hussein al-Shahristani claimed Thursday that the country has now become the third largest oil reserves holder with 200 billion barrels.

Greece Must Have More Detailed Privatisation Plan - Officials

Παρ, 20 Μαΐου 2011 - 15:32

EU and IMF inspectors will not conclude an audit key to releasing aid to Greece before the government comes up with a bolder and more detailed privatisation plan, officials said on Thursday.

South Steam Shareholders to Strike New Agreement in 2011

Παρ, 20 Μαΐου 2011 - 15:31

A new shareholders' agreement for the South Stream gas transit pipeline will be signed in 2011, Gazprom CEO Alexei Miller has announced.

Erdogans Crazy Plan Unveiled

Παρ, 20 Μαΐου 2011 - 15:31

With his party expected to win its third overall majority in general elections on June 12, Tayyip Erdogan, Turky’s prime minister, seems set on establishing his own legacy with his long-promised “crazy project” finally unveiled this week: a 50-kilometre long, 120-metre wide canal that his government plans to construct 100 km west of Istanbul between the Black Sea and the Sea of Marmara.

IEA: Oil Prices Remain at Elevated Levels Driven by Market Fundamentals

Πεμ, 19 Μαΐου 2011 - 17:41

The IEA Governing Board, at its regular quarterly meeting on 18-19 May, examined oil market developments and their impact on the global economy. Despite a near-10% correction since 5 May, oil prices remain at elevated levels driven by market fundamentals, geopolitical uncertainty and future expectations.

GDF Suez Exec Sees Europe Gas Market Oversupplied For Years

Πεμ, 19 Μαΐου 2011 - 17:30

European natural gas markets will remain oversupplied in the foreseeable future, despite supply disruptions due to the political upheaval in key North African producer countries such as Libya, said GDF Suez SA's (GSZ.FR) co-CEO Jean-Francois Cirelli Thursday.

TNK-BP Board Meeting Brings BP, AAR Face To Face

Πεμ, 19 Μαΐου 2011 - 17:30

BP PLC (BP.LN) and its partners in the Russian joint venture TNK-BP Ltd. are meeting Thursday and Friday in Cyprus for a scheduled board meeting, their first since BP's multi-billion pact with Rosneft (ROSN.RS) elapsed, a BP spokesman confirmed Thursday.

EU Nuclear Stress Tests Plan Blocked, Talks Continue

Πεμ, 19 Μαΐου 2011 - 17:30

Germany and Austria have blocked a plan backed by several European Union countries that would have set criteria for EU nuclear reactor safety checks to protect against natural disasters, calling for even stronger "stress tests" and demanding that experts independent of the nuclear industry should conduct them, said Austrian and Czech government officials.

EU Agrees To Significantly Expand Iran Sanctions

Πεμ, 19 Μαΐου 2011 - 17:29

The European Union has agreed to significantly expand its sanctions against Iran over its refusal to freeze its disputed nuclear activities, European diplomats said Thursday.

Gazprom Rejects Changes To Long-Term Gas Contracts

Πεμ, 19 Μαΐου 2011 - 17:29

Russian natural gas company Gazprom OAO (GAZP.RS) continues to reject changing the commercial terms of its long-term natural gas delivery contracts with major European importers, Gazprom's Vice Chairman Alexander Medvedev said Thursday at a gas storage conference in Salzburg.

Czechs Moving Ahead With Nuclear Expansion - PM

Πεμ, 19 Μαΐου 2011 - 17:28

Czechs will move ahead with their nuclear energy expansion plans and want to retain sovereign control over the country's electricity generation mix, significantly depending on nuclear generators, the Czech Prime Minister said Thursday.