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Russian Stocks May Fall 30% If Oil Slips To $50

Τετ, 26 Μαΐου 2010 - 18:33

In a scenario in which oil slips to $50 a barrel, Russia's RTS Index would likely fall to 900 to 1,000 from its current level of 1290, Troika Dialog says. The ruble would slip to between 35 and 37 to the dollar, while corporate profits would drop 30%, according to the broker.

Former Iraq Oil Chief Blasts Baghdad's Oil Deals

Τετ, 26 Μαΐου 2010 - 18:32

The former head of Iraq's largest state-owned oil company and advisor to the country's oil ministry has criticized deals Baghdad signed with international oil majors to develop some of its biggest fields.

E.ON Ruhrgas Targets Gulf,Africa For More Gas Supplies

Τετ, 26 Μαΐου 2010 - 18:31

E.On Ruhrgas AG chief executive officer Bernhard Reutersberg said Wednesday the company is seeking to secure natural gas from the Persian Gulf region and Africa to diversify its supply base and make up for dwindling European production of the fuel.

EU Climate Chief:Move To 30% CO2 Cut Now Would Not Make Sense

Τετ, 26 Μαΐου 2010 - 18:31

Moving to a more ambitious target of cutting CO2 emissions by 30% by 2020, from the present 20% goal, wouldn't make sense at the moment, as not all the conditions are right, the European Commissioner for Climate Action said Wednesday.

South Stream Signatures

Τετ, 26 Μαΐου 2010 - 13:41

Russia’s Gazprom and Greece’s natural gas grid operator DESFA will sign a deal on June 7 to build the Greek portion of South Stream, a Russian-led natural gas pipeline project, an official said on Monday. “The deal will be signed in Moscow,” DESFA spokesman Sotiris Hiotakis told Reuters.

China sets 5% tax on oil

Τετ, 26 Μαΐου 2010 - 13:25

China will levy a 5% resource tax on crude oil and natural gas sales and a 2% to 5% tax on coal in the Xinjiang region from 1 June, raising over 2 billion yuan ($292.8 million) for the region this year, according to local reports.

Russian Oil Companies to Pay Fines for Forcing up Petrochemical Prices

Τετ, 26 Μαΐου 2010 - 13:21

Russian oil companies will not only have to pay fines for breaking antitrust laws by forcing up petrochemical prices, but will also have to lower these prices, a Russian respected daily said on Wednesday.

EU Wants Unified System For Recharging Electric Cars In 2011

Τρι, 25 Μαΐου 2010 - 18:49

EU nations agreed Tuesday on the need to develop a standardized system for recharging electric cars throughout Europe by next year as part of efforts to convince sceptical consumers.

India Offers To Invest In Gas Fields In Turkmenistan

Τρι, 25 Μαΐου 2010 - 18:48

India Tuesday offered to invest in Turkmenistan's natural gas producing fields and set up a petrochemical plant in the Central Asian country as it seeks to secure its own energy supplies.

North Korea To Sever All Relations With South Korea

Τρι, 25 Μαΐου 2010 - 18:48

North Korea said Tuesday it was severing all relations with South Korea and cutting communications links in protest at claims that it had sunk one of Seoul's warships.

TNK-BP Has Completed Seismic Exploration Of Astrakhan Fields

Τρι, 25 Μαΐου 2010 - 18:47

BP PLC's (BP) Russian joint venture TNK-BP Holding (TNBP.RS) said Tuesday it has completed seismic exploration of all three of its fields in the Astrakhan region in the River Volga delta. TNK-BP acquired three 25-year licenses to develop fields in the Astrakhan region at an auction in 2006.

UK Government Outlines Laws To Promote Low-CO2 Energy

Τρι, 25 Μαΐου 2010 - 18:47

The U.K.'s coalition government outlined legislation to promote low-carbon energy production and secure energy supplies announced in the Queen's Speech that was delivered to parliament Tuesday.

Iberdrola Sells US Gas Units To Finance Transmission Project

Τρι, 25 Μαΐου 2010 - 18:46

Spanish electricity company Iberdrola SA (IBE.MC) Tuesday said it has agreed to sell three U.S. gas units to help finance a major electricity infrastructure project in New England.