English Edition

Sales Of German Oil Products Rise 7.9% On Year In Oct - MWV

Πεμ, 18 Νοεμβρίου 2010 - 19:09

Total sales of oil products in Germany rose 7.9% on year in October to 7.12 million metric tons, according to provisional data from industry group MWV Thursday.

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

Πεμ, 18 Νοεμβρίου 2010 - 19:09

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.

NATO Has No Future, Poses No Threat to Iran - President Ahmadinejad

Πεμ, 18 Νοεμβρίου 2010 - 14:03

The possible deployment of elements of a NATO missile defense system in Turkey poses no threat to Iran, Iranian President Mahmoud Ahmadinejad said on Thursday at a press conference in Baku, Azerbaijan.

China to Use Own Uranium Resources to Meet Growing Nuclear Demand

Πεμ, 18 Νοεμβρίου 2010 - 14:03

China will rely on its own resources of uranium to meet a mounting demand for nuclear power, the Xinhua news agency quoted a senior official as saying on Thursday.

EU Says €200bn Needed for Energy Grids by 2020

Πεμ, 18 Νοεμβρίου 2010 - 14:02

€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

Πεμ, 18 Νοεμβρίου 2010 - 14:01

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

Τετ, 17 Νοεμβρίου 2010 - 18:57

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.

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

Τετ, 17 Νοεμβρίου 2010 - 18:56

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.

Russia To Switch To Intl Oil, Gas Reserves Standards By 2012

Τετ, 17 Νοεμβρίου 2010 - 18:56

Russia plans to harmonize its oil and gas reserves classification with international standards by 2012, the Resources Ministry said Wednesday.

Uzbekistan Warns Of Disaster Over Tajik Plant

Τετ, 17 Νοεμβρίου 2010 - 18:56

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

Τετ, 17 Νοεμβρίου 2010 - 18:55

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

Τετ, 17 Νοεμβρίου 2010 - 16:19

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.

South Stream: Corporate Agreement Between Project Shareholders Consistent with EU Law

Τετ, 17 Νοεμβρίου 2010 - 14:40

The corporate agreement between the shareholders in the South Stream gas pipeline project is fully consistent with EU law, Economy, Energy and Tourism Minister Traicho Traikov said, answering a journalist's question on Tuesday.

EU: Massive New Gas Pipelines and High-Tech Electricity Highways

Τετ, 17 Νοεμβρίου 2010 - 14:39

Europe's energy chief will this week reveal his blueprint for massive new gas pipelines, high-tech "electricity highways" and up to 8,000 km of pipes for transporting and burying greenhouse gases, a leaked draft shows.

The EBRD Support for the Private Sector in the Oil and Gas Industry in Central Europe

Τετ, 17 Νοεμβρίου 2010 - 14:38

The EBRD is supporting the involvement of the private sector in the oil and gas industry in central Europe, with an equity investment of up to US$30 million to Central Europe Oil Company – CEOC Limited (CEOC), an independent company specialising in the re-development of existent mature hydrocarbon reservoirs. CEOC was established in 2009 with backing from Barclays Natural Resource Investments (BNRI), a natural resources focused global private equity business of Barclays Capital, the investment banking division of Barclays Bank PLC.

Gazprom 3Q Europe Gas Sales 'Alarming'

Τρι, 16 Νοεμβρίου 2010 - 18:39

Gazprom's (GAZP.RS) 25% lower sales volumes to the European Union in 3Q are "alarming," says UralSib. "The reason behind Gazprom's EU setback appears to be that European buyers are unwilling to pay premiums over spot gas prices," says analyst Alexei Kokin. Notes that although spot prices are likely to rise in 4Q '10, Gazprom's contract prices are likely to remain 20%-25% above.