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India Launches Renewable Energy-Based Market Instruments

India Launches Renewable Energy-Based Market Instruments

India Thursday launched a scheme that allows power utilities to purchase renewable energy certificates to meet their obligations of buying part of their electricity requirement from green energy sources.

Iran Nuclear Drive Must Be Peaceful, Medvedev Tells Ahmadinejad

Iran Nuclear Drive Must Be Peaceful, Medvedev Tells Ahmadinejad

Russia President Dmitry Medvedev Thursday stressed the importance of Iran having a peaceful nuclear program, the Kremlin said, in his first meeting with President Mahmoud Ahmadinejad since a breakdown in ties.

Russias Gazprom Sells $1 Bln 2015 Bond Offering

Russia's Gazprom Sells $1 Bln 2015 Bond Offering

Russia's OAO Gazprom (GAZP.RS), the world's largest producer of natural gas, said Thursday that it has sold a $1 billion bond maturing Nov. 29, 2015.

Oil Prices To Trade At Around $80 A Barrel In 2011 -Deutsche

Oil Prices To Trade At Around $80 A Barrel In 2011 -Deutsche

Oil prices are likely to trade at around $80 a barrel next year, helped by the weak dollar and the global financial recovery, Adam Sieminski, chief energy economist for Deutsche Bank, says in an energy conference in Houston. Oil prices will remain strong as long as the dollar is weak, but it's likely that the Federal Reserve will increase interest rates in a year or so, a move that could make oil prices go lower, he says.

EU Says €200bn Needed for Energy Grids by 2020

EU Says €200bn Needed for Energy Grids by 2020

€200 billion is needed to upgrade Europe's gas and electricity grids over the coming decade, the European Commission said yesterday (17 November), adding that half of the sum will have to come from government coffers at a time of budgetary presssure.

Metka Sees 9M Profits Shoot Up

Metka Sees 9M Profits Shoot Up

Power plant builder Metka reported strong nine-month earnings yesterday, boosted by growing business in Turkey. Metka, which is also present in Syria, said that nine-month net profits rose to 70.1 million euros, from 19.9 million euros, beating analysts’ estimates.

Bulgaria, Greece Talk Energy As Oil Pipeline Prospects Fade

Bulgaria, Greece Talk Energy As Oil Pipeline Prospects Fade

Energy diversification topped the agenda of a meeting between the Bulgarian and Greek presidents here Wednesday as plans for a joint oil pipeline with Russia look increasingly likely to run aground.

Russias Itera: Seeking JV With Gazprom To Develop Gas Fields

Russia's Itera: Seeking JV With Gazprom To Develop Gas Fields

Russian private independent gas producer Itera Holding is seeking a joint venture with Russia's state-controlled gas monopoly OAO Gazprom (GAZP.RS) to develop small and mid-sized gas fields in Siberia, Itera said Wednesday.

Uzbekistan Warns Of Disaster Over Tajik Plant

Uzbekistan Warns Of Disaster Over Tajik Plant

Uzbekistan Wednesday warned world powers of a looming environmental disaster from Tajikistan's plan to build a huge hydro-electric dam, in a new show of tensions between the ex-Soviet neighbors.

UK Govt Shapes Landmark Power Market Reform -Energy Min

UK Govt Shapes Landmark Power Market Reform -Energy Min

The U.K. government is considering mechanisms to strengthen the carbon price and other incentives including feed-in tariffs or capacity payments to reward generators of low-carbon electricity in order to secure the huge investments required over the next decade in the sector, Energy Minister Charles Hendry said Wednesday.

Greece: Motor Oil Sees Flat 2010 Sales About 9.5 mln Tonnes

Greece: Motor Oil Sees Flat 2010 Sales About 9.5 mln Tonnes

Motor Oil, Greece's second biggest refiner, said on Tuesday group sales volume would be flat this year compared to 2009 as a new distillation unit helps reverse a sales drop posted in the first half.