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Motor Oil profits to increase by end of year

Motor Oil profits to increase by end of year

Πεμ, 8 Οκτωβρίου 2009 - 15:43

Motor Oil Hellas SA, the second-largest Greek refiner, expects that profits from processing a barrel of oil into fuels such as diesel will increase as early as the end of this year, as demand recovers. “We’ll have some recovery in demand” around the end of the year, Petros Tzannetakis, Motor Oil’s chief financial officer, said in an interview in London yesterday.

Natural Gas Execs Put Faith In Industrys Long-Term Outlook

Natural Gas Execs Put Faith In Industry's Long-Term Outlook

Τετ, 7 Οκτωβρίου 2009 - 19:44

The global financial and economic crisis has taken its toll on the natural gas industry, with sharp declines in prices and consumption, but industry executives on Tuesday expressed their faith in the long-term outlook.

Russian,Czech Presidents To Discuss Energy,Trade Oct 14

Russian,Czech Presidents To Discuss Energy,Trade Oct 14

Τετ, 7 Οκτωβρίου 2009 - 19:43

Czech President Vaclav Klaus will visit Russia Oct. 14 for talks with his Russian counterpart, Dmitry Medvedev, on energy and trade, the RIA Novosti news agency reports Wednesday, citing the Kremlin.

Gazprom, Repsol Discussing Joint LNG Project On Yamal

Gazprom, Repsol Discussing Joint LNG Project On Yamal

Τετ, 7 Οκτωβρίου 2009 - 19:41

Spanish oil firm Repsol YPF SA (REP) and Russian gas giant OAO Gazprom (GAZP.RS) are in talks about possible joint production of liquified natural gas, or LNG, on Russia's northern Yamal Peninsula, Gazprom said Wednesday.

Kashagan Oil Fields First Phase To Cost $38B

Kashagan Oil Field's First Phase To Cost $38B

Τετ, 7 Οκτωβρίου 2009 - 19:39

Development of the initial stage of the giant Kashagan oil field in the Caspian Sea will cost $38 billion, the chief executive of Kazakhstan's state oil and gas company KazMunaiGas said Wednesday.

Iraq Sep Oil Exports Unch On Mo At 2 Mln B/D

Iraq Sep Oil Exports Unch On Mo At 2 Mln B/D

Τετ, 7 Οκτωβρίου 2009 - 19:35

Iraq’s crude oil exports in September were at an average of 2 million barrels a day, about the same as the previous month, the head of the State Oil Marketing Organization, or SOMO, told Dow Jones Newswires Wednesday.

4th Eurasian Energy Conference Illustrates Increasing Significance of Kazakh Role in European and Asian Energy Security

4th Eurasian Energy Conference Illustrates Increasing Significance of Kazakh Role in European and Asian Energy Security

Τετ, 7 Οκτωβρίου 2009 - 14:27

The 4th Eurasian Energy Forum, one of Central Asia’s pivotal annual conferences, was held in the Kazakh capital of Astana on September 24th-25th. The Conference’s proceedings were opened by Kazakh Prime Minister Karim Massimov, while, the Summit’s principal speakers included Sauat Mynbayev, Kazakhstan’s Energy & Natural Resources Minister, Randall Gossen, the President of the World Petroleum Council, Roland Kobia, the Chef de Cabinet (Chief of Staff) of EU Energy Commissioner Andris Piebalgs

Ukraine Ready To Meet Winter Gas Obligations

Ukraine Ready To Meet Winter Gas Obligations

Τρι, 6 Οκτωβρίου 2009 - 18:30

Ukraine's natural gas company Naftogaz is ready to meet its supply and transit obligations this winter, Russian news agency RIA Novosti reports Tuesday, citing a Ukrainian presidential envoy.

Kuwait Oil Min: Output Boost To 4 Mln B/D Delayed To 2030

Kuwait Oil Min: Output Boost To 4 Mln B/D Delayed To 2030

Τρι, 6 Οκτωβρίου 2009 - 18:29

Kuwait is delaying plans to boost its crude output capacity by more than a third to 4 million barrels of oil a day by 10 years to 2030 due to lack of expertise and current oil market conditions, the country's oil minister said Tuesday.

GDF Suez To Hold 8%, Total To Hold 17% Of Khvanlinskoye Devt

GDF Suez To Hold 8%, Total To Hold 17% Of Khvanlinskoye Devt

Τρι, 6 Οκτωβρίου 2009 - 18:21

French utility GDF Suez (GSZ.FR) Tuesday said it has signed, in partnership with oil major Total SA (TOT), a heads of agreement to acquire half of KazMunaiGas' 50% stake in the Caspian Sea Khvalinskoye exploration license.

Suzlon Energy Gets Order From Turkeys Ayen Enerji

Suzlon Energy Gets Order From Turkey's Ayen Enerji

Τρι, 6 Οκτωβρίου 2009 - 18:15

Suzlon Energy Ltd. (532667.BY) Tuesday said it has received an order to install turbines with a total capacity of 57 megawatts for Turkey's Ayen Enerji AS (AYEN.IS).

World Bank, EBRD, EIB: Credit Crunch Risk Threatens Eastern Europe

World Bank, EBRD, EIB: Credit Crunch Risk Threatens Eastern Europe

Τρι, 6 Οκτωβρίου 2009 - 13:29

Major economic institutions have warned Monday that there is an increasing risk of a credit crunch in Central and Eastern Europe. The World Bank, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) made a joint statement at a conference in Istanbul, Turkey "There are increasing risks of a major credit crunch in the region", the banks said