English Edition

Harvard Professor Says Greek Measures Doomed to Fail

Παρ, 19 Μαρτίου 2010 - 14:33

Harvard University professor Martin Feldstein, who warned almost two decades ago that the euro would prove an “economic liability,” said Greece’s austerity plan will fail and the country may have to quit the single currency to fix its fiscal crisis.

Mytilineos Finalizes Endesa Deal

Παρ, 19 Μαρτίου 2010 - 14:32

Listed energy and metals company Mytilineos SA has taken full control of Endesa Hellas, which had been a joint venture along with Spanish energy giant Endesa SA. Mytilineos agreed yesterday to acquire Endesa’s controlling stake (50.01 percent) in the Greek firm.

Plan to Help Homes Cut Energy Costs

Παρ, 19 Μαρτίου 2010 - 14:31

A 200-million-euro government program aimed at helping property owners make their homes more energy efficient will start in June, the Environment, Energy and Climate Change Ministry said yesterday.

Greek Power Workers Threaten Further Strikes From March 24

Πεμ, 18 Μαρτίου 2010 - 17:05

Greece's militant union of power sector workers, Genop, said Thursday it will proceed with rolling 48-hour strikes from March 24, but also said it was open to talks with the Greek government.

Enel Warns EU Over Emissions Rule Change

Πεμ, 18 Μαρτίου 2010 - 17:05

Italian utility Enel SpA (ENEL.MI) has warned European ministers against changes to rules for carbon-emissions permits on the grounds that it could cut investment in projects aimed at reducing greenhouse-gas emissions, The Financial Times reports Thursday, citing the company.

Wintershall CEO: In Talks With Gazprom On Yamal Gas Projects

Πεμ, 18 Μαρτίου 2010 - 17:04

German upstream oil and gas company Wintershall AG's Chief Executive Rainer Seele said Thursday the company is in talks with Gazprom OAO (GAZP.RS) over possible joint gas projects on the Yamal Peninsula.

Lukoil May Buy Conoco's Shares If Put Up For Sale - Ifax

Πεμ, 18 Μαρτίου 2010 - 17:04

Russian oil producer OAO Lukoil Holdings (LKOH.RS) would find it necessary to buy back shares held by ConocoPhillips (COP) should the U.S. oil major put part of its 20% stake in the company up for sale, the Interfax news agency reported Thursday, citing Lukoil's chairman, Valery Grayfer. News reports Wednesday suggested that ConocoPhillips may sell part of its stake in Lukoil.

South Korea To Introduce New Law To Fuel Renewable Energy -Report

Πεμ, 18 Μαρτίου 2010 - 17:03

South Korea will introduce new regulations to promote renewable energy use, Yonhap news agency reported Thursday. The Ministry of Knowledge Economy said lawmakers passed a bill earlier in the day that will make it mandatory for local power companies to generate a certain percentage of electricity by harnessing the energy created by the sun, wind, water or terrestrial heat, the agency reported.

Wintershall CEO: GDF Suez Likely Last New Nord Stream Member

Πεμ, 18 Μαρτίου 2010 - 17:03

GDF Suez SA (GSZ.FR) will likely be the last new member of the Nord Stream consortium which is laying a gas pipeline under the Baltic Sea from Russia to Germany, Wintershall AG Chief Executive Rainer Seele said Thursday.

Papandreou Seeks EU Aid Mechanism, Challenging Merkel

Πεμ, 18 Μαρτίου 2010 - 16:26

Greek Prime Minister George Papandreou set a one-week deadline for the European Union to craft a financial aid mechanism for Greece, challenging Germany to give up its doubts about a rescue package.

Draft EU Gas Regulation Under Parliament Scrutiny

Πεμ, 18 Μαρτίου 2010 - 11:57

A European Commission proposal to improve security of gas supplies following last year's price dispute between Russia and Ukraine has inspired 614 amendments from members of the European Parliament.

U.S. Court Orders Seizure of Rosneft Assets Under Yukos Lawsuit

Πεμ, 18 Μαρτίου 2010 - 11:54

A U.S. court has ruled to seize $419 million worth of assets of Russia's state oil major Rosneft under a lawsuit filed by managers of the now defunct oil giant Yukos, a business daily reported on Thursday.

China Builds Underwater Tunnel for Russian Oil Pipeline

Πεμ, 18 Μαρτίου 2010 - 11:53

China has finished the construction of a tunnel under the Amur River to accommodate an extension of a pipeline intended to pump millions of tons of Russian oil to the energy-hungry country every year, the Xinhua news agency said Thursday.

Iran Ready For Nuclear Fuel Swap Inside Country

Τετ, 17 Μαρτίου 2010 - 20:45

Iran has said it is ready for a one-shot nuclear fuel exchange on its own soil, edging closer to the conditions of a plan drawn up by the United Nations atomic watchdog last year as major powers mulled a new round of sanctions.

Angola May Restart Oil Licensing Round In 2011 - Oil Minister

Τετ, 17 Μαρτίου 2010 - 20:45

Angola may restart a delayed licensing ground in 2011, the country's oil minister said Wednesday, after the process was interrupted late 2008. Speaking to Dow Jones Newswires after exiting a meeting of the Organization of Petroleum Exporting Countries that left output unchanged, Jose Botelho de Vasconcelos said the licensing will "maybe" restart next year.

Edited Text Of OPEC Communique From March 17 Vienna Meeting

Τετ, 17 Μαρτίου 2010 - 20:44

The Conference reviewed recent oil market developments, in particular supply/demand projections, as well as the outlook for 2010, and noted that, while the global economy is clearly rebounding from the late 2008 and early 2009 recession