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Austria’s OMV talks Turkey

Austria’s OMV talks Turkey

Austrian integrated oil firm OMV aims to cut costs and restructure operations, while putting Turkey at the core of its three-pronged growth plan.

PPC to Invest 1.8 bln euros and Hire Workers

PPC to Invest 1.8 bln euros and Hire Workers

Public Power Corporation (PPC) is planning to make investments of 1.8 billion euros in western Macedonia by 2015 and hire 1,600 employees by the year's end, the listed power company's chairman and chief executive officer, Arthouros Zervos, announced yesterday.

Turkmenistan Begins Work On East-West Gas Pipeline

Turkmenistan Begins Work On East-West Gas Pipeline

Turkmenistan started work on a $2 billion gas pipeline Monday as the resource-rich but isolated Central Asian nation seeks to diversify its energy customers away from Russia.

China To Cut Fuel Prices; May Help Inflation

China To Cut Fuel Prices; May Help Inflation

China will lower domestic fuel prices in a move that will pass on the steep fall in crude prices to the pockets of Chinese consumers and assist the central government in keeping inflation in check, a key government agency said.

Japan Urges Iran To Halt Uranium Enrichment: Reports

Japan Urges Iran To Halt Uranium Enrichment: Reports

Japan urged Iran on Monday to halt its controversial uranium enrichment program, hinting Tokyo might support additional international sanctions against the country, media reports said.

China and Japan Plan Gas Field Talks

China and Japan Plan Gas Field Talks

China and Japan today agreed on steps to ease military tension between the Asian neighbours and resuumed talks on jointly exploring disputed gas fields in seas bewteen them.

Petrobras for Turkey Chapter and Black Sea Programme

Petrobras for Turkey Chapter and Black Sea Programme

Petrobras, Brazil's state-controlled oil firm, and state-owned Turkish Petroleum Corp. (TPAO) signed a memorandum of understanding Thursday to expand research into deep-water exploration in Turkey's sector of the Black Sea.

Russian Gas Dispatched to Europe Across Baltic Sea

Russian Gas Dispatched to Europe Across Baltic Sea

The first batch of Russian gas to Europe across the Baltic Sea was dispatched on Sunday. The batch is only a tenth of a cubic meter, but its route almost precisely follows that of the Nord Stream pipeline under construction. The shipment proves the seriousness of the Russian intention to fulfill Nord Stream commitments to Western partners.

Oil Above $74 on Dollar But Down 14 percent in May

Oil Above $74 on Dollar But Down 14 percent in May

Oil rose above $74 a barrel on Monday as the euro steadied, although worries about euro zone economic stability saw the commodity record its biggest monthly loss in 18 months.

Uranium Enrichment Not Discussed In Iran Deal--Brazil

Uranium Enrichment Not Discussed In Iran Deal--Brazil

Iran's decision to enrich to 20% of its stock of uranium was never part of the negotiations behind the nuclear fuel swap deal Brazil and Turkey struck with Tehran last week, Brazil's foreign minister said Friday.

Drill Ban Crimps Suppliers Of Energy

Drill Ban Crimps Suppliers Of Energy

Oil and gas companies Friday began shutting down 33 oil-exploration rigs operating in deep water in the Gulf of Mexico in response to government demands while bristling at the prospect of the six-month drilling ban.