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Russia Min:Rosneft, Gazprom Need Foreigners To Develop Arctic

Russia Min:Rosneft, Gazprom Need Foreigners To Develop Arctic

Russia's Natural Resources Minister Yuri Trutnev proposes easing laws restricting foreign participation in offshore energy projects and says state energy firms OAO Gazprom (GAZP.RS) and OAO Rosneft (ROSN.RS) need foreign capital, the Vedomosti daily reports Thursday.

Alstom CEO: Working With EDF Can Help Win Nuclear Contracts

Alstom CEO: Working With EDF Can Help Win Nuclear Contracts

French industrial group Alstom SA's (ALO.FR) Chief Executive Patrick Kron Thursday said working with Electricite de France SA (EDF.FR) can give an important advantage in winning contracts abroad for France's nuclear industry.

GDF Suez Cirelli: No Date Yet To Finalize Areva Partnership

GDF Suez Cirelli: No Date Yet To Finalize Areva Partnership

French utility GDF Suez SA's (GSZ.FR) deputy Chief Executive Jean-Francois Cirelli Thursday said no date yet has been set to finalize a planned strategic partnership with French state-controlled nuclear group Areva SA (CEI.FR.)

Uganda: To Decide On Tullow Oil Preemption Next Week

Uganda: To Decide On Tullow Oil Preemption Next Week

The Ugandan government will reach a decision next week on whether to back Italy-based Eni SpA's (E) proposed $1.5 billion takeover of the interests of the London-listed Heritage Oil PLC (HOIL.LN) in two exploration blocks, or allow pre-emption of the sale by the U.K.-based Tullow Oil PLC (TLW.LN), state house said late Tuesday.

Russias TNK-BP To Issue Up To $1B In Bonds

Russia's TNK-BP To Issue Up To $1B In Bonds

Russian oil producer TNK-BP Holding (TNBP.RS), part-owned by U.K. oil major BP PLC (BP), could raise as much as $1 billion from its upcoming eurobond offering, people familiar with the situation said Wednesday.

Venezuela Oil Chief Heads To Russia, China To Discuss Pacts

Venezuela Oil Chief Heads To Russia, China To Discuss Pacts

Venezuela Oil Minister Rafael Ramirez was leaving Wednesday for Russia and then to China to discuss plans for developing heavy crude blocks in the eastern Orinoco region, the Venezuelan government said in a statement.

CNPC-Total-Petronas Group Finalizes Iraq Halfaya Field Deal

CNPC-Total-Petronas Group Finalizes Iraq Halfaya Field Deal

The Iraqi oil ministry Wednesday finalized in Baghdad a deal with a consortium made up of China National Petroleum Corp., Total SA (TOT) and Malaysia's Petroliam Nasional Bhd, better known as Petronas, to develop Iraq's Halfaya oil field, Iraqi oil officials said.

OMV Exec:Nabucco Project Will Be Decided By Demand In Open Season

OMV Exec:Nabucco Project Will Be Decided By Demand In Open Season

The decision on whether the European Union-backed Nabucco Pipeline goes ahead will be made by the market this summer, when transport contracts are put up for sale, a top-executive of the pipeline project's Austrian partner, OMV AG (OMV.VI), said Wednesday.

Bulgaria may receive more nuclear decommissioning aid

Bulgaria may receive more nuclear decommissioning aid

The European Parliament has launched a procedure for the allotment of EUR 300 M in additional compensations over four years to Bulgaria for the closure of Soviet-designed reactors 1 to 4 at Bulgaria's Kozloduy nuclear power plant.

Bulgarian ‘green’ energy overdrive is raising concerns

Bulgarian ‘green’ energy overdrive is raising concerns

Bulgaria is undergoing a boom in the renewable energy sector that experts warn could see an influx of dodgy investment and actually end up doing more harm than good for the environment. And the government – the main driver behind the boom – is taking note.

Gov’t looks to Asia for funding

Gov’t looks to Asia for funding

Senior officials from the Finance Ministry will head eastward in a bid to drum up funds that will help meet the country’s borrowing needs in a plan that could see Asian investors buying up to 10 billion dollars of government debt.

Chevron Makes Australia Gas Discovery

Chevron Makes Australia Gas Discovery

Chevron Corp. (CVX) said it made a natural-gas discovery off Western Australia's coast as part of the proposed 43 billion Australian dollar ($39 billion) Gorgon liquefied-natural-gas project.

Russian Finance Min Calls For End To Oil Tax Breaks

Russian Finance Min Calls For End To Oil Tax Breaks

Shares in Russia's biggest oil producer OAO Rosneft (ROSN.RS) plummeted more than 7% on Tuesday on fears that government discussions to abandon tax breaks on crude oil produced in East Siberia could hurt the company's profits.

Azerbaijan State Oil Fund Grows To $14.8 Bln In 2009

Azerbaijan State Oil Fund Grows To $14.8 Bln In 2009

The assets of energy-rich Azerbaijan's state oil fund rose by nearly a third in 2009 to $14.8 billion, the fund said in a statement Tuesday. But after nearly quadrupling its assets in 2008, the sovereign wealth fund's growth slowed considerably to 32.8% amid the global economic downturn last year.