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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.

EU Will Propose Binding Measures To Boost Energy Saving

Τετ, 2 Μαρτίου 2011 - 16:58

The European Commission will propose in a few weeks binding measures to boost energy saving in the European Union and set the bloc on track to meet a goal of being 20% more efficient in 2020, the commission's Energy Chief said Wednesday.

Two US Warships Enter Mediterranean En Route To Libya - Suez Canal

Τετ, 2 Μαρτίου 2011 - 16:57

Two U.S. warships carrying marines and equipment Wednesday entered the Mediterranean Sea en route to Libya, the Suez Canal Authority said, as the West weighed up military action.

EDF Can Boost French Nuclear Exports, But Needs To Invest

Τρι, 1 Μαρτίου 2011 - 16:53

French state-controlled power group Electricite de France SA's (EDF.FR) tariffs must enable it to invest in France's 58 reactors, and France can benefit from the company's experience to boost the whole French nuclear industry's export capacity, Chairman and Chief Executive Henri Proglio said Monday.

China: Signed Loan Agreement With Turkmenistan Gas Giant

Τρι, 1 Μαρτίου 2011 - 16:53

Chinese Vice Premier Wang Qishan and his Turkmenistan counterpart, Baymyrat Hojamuhammedov, signed an initial agreement Tuesday for China to provide loans to Turkmenistan gas producer Turkmengaz State Concern.

TNK-BP 4Q Net Profit +51% On Year $1.93 Bln

Τρι, 1 Μαρτίου 2011 - 16:53

Russia's third-largest oil producer TNK-BP International, part-owned by U.K. oil major BP PLC (BP), said Tuesday its fourth-quarter net profit rose 51% from last year, mainly due to higher oil prices.

EU Rehn: Rising Oil Prices Now Pose No Risk To EU Growth

Τρι, 1 Μαρτίου 2011 - 16:52

Rising oil prices are pushing up inflation in the 27-nation European Union, but this isn't hurting growth for now, the bloc's commissioner for monetary affairs said Tuesday.

EDF, Edison Italian Hldrs Mull Simplifying Shareholding Structure

Τρι, 1 Μαρτίου 2011 - 16:52

Electricite de France (EDF.FR) and the Italian shareholders that indirectly control a stake of Edison SpA (EDN.MI) are considering simplifying the shareholding structure of the Italian utility company, a person with knowledge of the situation said Tuesday.

Iraq February Oil Exports Hit Post-2003 High - SOMO

Τρι, 1 Μαρτίου 2011 - 16:51

Iraq's oil exports rose to 2.202 million barrels a day in February, the highest rate reached since the U.S.-led invasion in 2003, the head of the state oil marketing company SOMO said Tuesday, and the country's top oil officials said output should hit 3 million barrels a day by the end of the year.

TNK-BP Unlikely To Join BP-Rosneft Deal

Δευ, 28 Φεβρουαρίου 2011 - 17:23

TNK-BP (TNBP.RS) is unlikely to join BP's (BP) joint project with Rosneft (ROSN.RS) despite a stalemate in negotiations, says Renaissance Capital. "We maintain our view that the deal between BP and Rosneft should be completed under terms that are close to the original ones," says analyst Ildar Davletshin.

Libya May Be Eighth Largest Oil Shock Since 1950

Δευ, 28 Φεβρουαρίου 2011 - 17:22

The ongoing political turmoil in Libya could cause the eighth largest supply oil shock since 1950, according to a note by Bank of America Merrill Lynch. The bank noted that Libya is the 13th largest crude oil exporter in the world and is a "very large producer of light sweet blends, a quality of crude easily turned into transportation fuels."