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Russia's Lukoil Launches Korchagin Oil Field In Caspian Sea

Russia's biggest independent oil producer OAO Lukoil Holdings (LKOH.RS) said Wednesday it started commercial production at the Caspian offshore field Yuriy Korchagin, which could reach annual output of 2.5 million metric tons of oil at peak.

China: Must Step Up 2010 Efforts To Reach Energy Saving Goals

Romanian Government Approves Carbon Trading Scheme

The Romanian government Wednesday gave its go-ahead to a carbon trading scheme aimed at cutting greenhouse gas emissions, hoping to earn up to EUR2.5 billion until 2012. "Romania can trade about 300 million credits, divided into 1 million-ton packages," Economy Minister Adriean Videanu said during a press conference.

Gazprom, ENI to Cede 10% of South Stream to EDF - Putin

Russia’s natural gas monopoly Gazprom and Italy’s ENI energy giant will cede 10 percent of their share in the South Stream project each to Electricite de France (EDF), Russian Prime Minister Vladimir Putin told journalists on Tuesday commenting on a statement he made in Milan that the French company would get a stake (20 percent) in the project.

Peak Oil Era: Why the Cost and Risk of Oil Exploration Will Keep Rising

Transocean’s Deepwater Horizon oil rig — which exploded and subsequently sank this week — was pushing the bounds of offshore oil and gas exploration in every possible way. The massive ultra-deepwater semisubmersible oil rig is a feat of engineering that has the ability to operate in 8,000 feet of water.

EDF’s Proglio Takes Global Water Battle With Mestrallet Nuclear

Henri Proglio and Gerard Mestrallet, the Frenchmen who run the world’s biggest utilities, fought for a decade to win water contracts around the world. Now, the rivalry goes nuclear.

IENE’s One-Day Conference in Sofia to Promote Hellenic-Bulgarian Energy Co-operation

Well-known personalities of the energy sector from Bulgaria and Greece are gathering in Sofia , Bulgaria on April 29th, 2010 on the occasion of the one-day conference on “ Hellenic-Bulgarian Co-operation in the Energy Sector” organized by the Institute of Energy for SE Europe (IENE) in co-operation with the Hellenic Business Council in Bulgaria (HBCB) . The conference will review the cooperation so far between Greek and Bulgarian energy companies and organizations but will also explore the future prospects for a broader cooperation between Greece and Bulgarian in the energy sector

IENE’s 4th South East Europe Energy Dialogue Emerges as Key Regional Energy Event

The “4th South East Europe Energy Dialogue”, the forum for furthering the idea of a S.E. European energy bridge, involving all the countries of the immediate and broader region, is once more being held in Thessaloniki, at the Hyatt Regency Hotel, on June 3 and 4, 2010, organized by the Institute of Energy for SE Europe (IENE). Following the success of the previous Energy Dialogue conferences, held over the last three years, this important international gathering, which is being organized in association with the World Energy Council (WEC), is expected to attract record participation from speakers, companies and international organizations

Indonesia to Cut Oil Use and Develop Untapped Geothermal Energy

Indonesian government has planned to cut national oil consumption by more than a quarter within five years by turning to Indonesia's vast, untapped geothermal power sources, local media reported in Jakarta on Monday.

Italy's Edison Promotes Cheaper Version of Nabucco

Italian energy company Edison is lobbying the European Commission for more support in upgrading existing infrastructure and building interconnectors from the Caspian to Italy, its representatives said on 26 April. This would allow the Nabucco gas pipeline to take over at a later stage, they claimed.

BP buys Total Norway Oil Interests for $991 million

Oil major BP Plc (BP.L) will pay Total SA (TOTF.PA) $991 million in cash for its French rival's holdings in two oil fields in the Norwegian North Sea as it continues an acquisition spree and Total sheds non-core assets.

Saudi Electricity gets SAR15 BLn Loan From Government

Saudi Electricity Co.(5110.SA) will receive a 15 billion riyal ($4 billion) loan from its main shareholder, the Saudi government, over the next two years, state-run Saudi Press Agency reported Monday.

France's Lagarde: Euro Zone Stands Behind Greece; Response Chaotic

The euro zone will stand behind Greece, which is "under attack" by some investors, French Finance Minister Christine Lagarde said Monday, but the bailout package will require harsh measures "for once" to be adopted by the cash-strapped country.