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Gazprom 4Q Up Eightfold; Shares Rise

Russia's OAO Gazprom (GAZP.RS), the world's largest producer of natural gas, Thursday posted an eightfold increase in fourth-quarter net profit on rising output and demand, as well as a one-time financial gain.

Qatar Starts Up $800 Mln Ethane Cracker At Ras Laffan

Qatar's Ras Laffan Olefins Co. will on Tuesday inaugurate officially its new $800 million ethane cracker that started production last week, the state-run Qatar News Agency reports Monday.

E.ON Sells 265MW Power Output Capacity To Morgan Stanley Unit

E.ON AG (EOAN.XE) said Monday it has agreed to sell 265 megawatts of power generation capacity its owns in the German coal-fired power plant Veltheim to Morgan Stanley Capital Group Inc., the commodities division of Morgan Stanley (MS).

Total Production Profile One Of The Strongest

GDF Suez/Bolivia Talks Had Been Ongoing

The nationalization of GDF Suez's (GSZ.FR) assets in Bolivia is no surprise, Aurel says, noting GDF Suez had been in talks with the Bolivian government for quarters over the issue. Notes Corani, in which GDF Suez owned 50% and which was nationalized over the weekend, represented 16.4% of the Bolivian power generation market share in 2008.

GDF Suez Earnings Beat Views, Keeps Full-Year Goals

French power operator GDF Suez (GSZ.FR) Monday posted 2.1% drop in first-quarter earnings before interest, tax, depreciation and amortization, or Ebitda--due to lingering economic difficulties in Europe and lower energy commodities prices--but the decline was a less-than-expected and the group maintained its full-year targets.

Electric Cars Push Needs Careful Thinking

Despite a strong push to ramp up the production of electric cars around the world, experts warn that their roll-out needs to be carefully planned before investors open their wallets.

Euro Zone Seals €110bn Rescue Plan for Greece

Under a deal struck by eurozone finance ministers on Sunday (2 May), Athens would receive 80 billion euros in bilateral loans in three years spanning until 2012. 30 billion would come from the International Monetary Fund (IMF).

Regions Wont Wait for Orders on Energy Reform

European regions are moving ahead with reforming their energy sectors with or without an invitation from the European Commission, a gathering of regional representatives heard in Brussels yesterday (29 April).

Chevron 1Q Profit More Than Doubles, Matching Peers

Chevron Corp.'s (CVX) first-quarter earnings more than doubled on higher oil and gas prices, increased production and better-than-expected refining results. Chevron's global output rose 5% to 2.78 million barrels of oil equivalent per day from a year ago mainly due to higher production from new projects in the U.S. Gulf of Mexico, Nigeria and Angola

Iran Floating Crude Storage Estimated At 35 Mln Barrels-Broker

Iran is storing an estimated 35 million barrels of crude oil in floating tankers, according to London-based shipbroker E.A. Gibson. The amount equates to nearly 10 days of Iranian oil production, Gibson said.

Putin Offers To Merge Gazprom, Ukraine's Naftogaz - Interfax

Russian Prime Minister Vladimir Putin proposed to merge the country's state-controlled natural gas giant OAO Gazprom (GAZP.RS) and Ukraine's national gas company Naftogaz, Interfax reported Friday.

Russia: UN To Address Iran Sanction In Near Future - Report

The United Nations Security Council may take up the issue of sanctions against Iran in the "very near future," Russian Foreign Minister Sergei Lavrov said Thursday according to the RIA Novosti news agency.