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Eni Sells TAG Stake to CdP In EUR675 Mln Cash, Loan Deal

Eni Sells TAG Stake to CdP In EUR675 Mln Cash, Loan Deal

Eni SpA (E) agreed to sell to Italy's state-controlled lender Cassa Depositi e Prestiti SpA its majority stake in the natural gas pipeline TAG, the energy giant said Friday, as part of a deal to settle a dispute with European Union regulators.

China Official: Sees 30 Mln KW Summer Power Shortage

China Official: Sees 30 Mln KW Summer Power Shortage

China is likely to face a power shortage of 30 million kilowatts this summer, with particular troubles in the provinces of Zhejiang and Jiangsu and the metropolis of Chongqing, state radio reported Friday, citing National Development and Reform Commission Vice Chairman Liu Tienan.

Qatar Delivers 1st LNG Cargo To Thailand

Qatar Delivers 1st LNG Cargo To Thailand

State-run Qatargas said Friday it delivered its first shipment of liquefied natural gas, or LNG, to Thailand, as demand for the fuel climbs in fast-growing Asia.

Rosneft Not Mulling BP As Partner For Kara Project

Rosneft Not Mulling BP As Partner For Kara Project

Russian state oil producer OAO Rosneft (ROSN.RS) no longer considers BP PLC (BP) a partner for a closely-watched Arctic development project and has received no new proposals from the U.K. oil major, the company's chief executive, Eduard Khudainatov, said Friday.

Japans Mitsui Buys 9% In Poland Shale Gas Concession

Japan's Mitsui Buys 9% In Poland Shale Gas Concession

Japanese trading house Mitsui & Co. Ltd. (8031.TO) Thursday became the first Japanese company to enter into a European shale gas project by agreeing to acquire a 9% stake in Polish exploration concessions from subsidiaries of Marathon Oil Corp. (MRO).

Merkel: Germany Needs Up To 20GW New Fossil Generation Capacity

Merkel: Germany Needs Up To 20GW New Fossil Generation Capacity

To secure energy security while exiting nuclear power Germany needs to build double the amount of new fossil-fired power plants than the government previously had earmarked, Chancellor Angela Merkel said Thursday, while sticking to ambitious emission reduction goals.

World Looks To Saudi Arabia After Iran Thwarts Output Bid

World Looks To Saudi Arabia After Iran Thwarts Output Bid

OPEC's failure to increase production Wednesday brought immediate bad news for oil consumers, in the form of higher prices. However, big oil importers should take heart from what may be an important silver lining to this cloud.

Projections of Sustainability in China Solar

Projections of Sustainability in China Solar

Today, www.WorldStreetFundamentals.com released its industry report highlighting LDK Solar Co., Ltd. (NYSE: LDK) and JA Solar Holdings Co., Ltd. (NASDAQ: JASO). Full fundamental and technical analysis is available at www.WorldStreetFundamentals.com/Reports.php.

Russia, China to Maintain ESPO Pipeline Oil Price Formula

Russia, China to Maintain ESPO Pipeline Oil Price Formula

Russia and China have agreed to leave unchanged the price formula for oil supplies via the East Siberia-Pacific Ocean oil pipeline, which exports Russian crude oil to the Asia-Pacific markets, a source at the Energy Ministry said on Thursday.

Gazprom Neft Wants to Start Oil Production in Venezuela in 2013

Gazprom Neft Wants to Start Oil Production in Venezuela in 2013

Russia's Gazprom Neft, the oil arm of state-controlled energy giant Gazprom, wants to start oil production at the Junin-6 block in the oil-rich Orinoco River belt in Venezuela in 2013, CEO Alexander Dyukov said on Thursday.

Exxon Makes Big Find In US Gulf

Exxon Makes Big Find In US Gulf

Exxon Mobil's (XOM) discovery of several reservoirs in Keathley Canyon containing an estimated total resource of more than 700M barrels of oil equivalent is big by US Gulf of Mexico standards.