English Edition

Italy Needs More Than 4 Nuclear Plants

Τρι, 25 Αυγούστου 2009 - 16:45

Italy will need more than four nuclear plants to be able to reach the government's target of 25% of its power generated from atomic energy, Enel SpA (ENEL.MI) Chief Executive Fulvio Conti said Tuesday.

Iraq Cabinet To OK Rumaila Oil Field Deal Soon

Τρι, 25 Αυγούστου 2009 - 16:45

The Iraqi cabinet expects to soon approve the Rumaila oil field deal that was agreed with a consortium of BP PLC (BP.LN) and China National Petroleum Corp., or CNPC, in the first bidding round, Iraq's oil minister said Tuesday.

Firefighters Tame Attica Blazes

Τρι, 25 Αυγούστου 2009 - 16:14

Weary firefighters battled raging forest fires along a strip of suburbs northeast of Athens for a fourth day yesterday, managing to bring most of the blazes under control and curb the destruction of forestland and homes. Aided by a drop in near gale-force winds, firefighters managed to control several fronts that had been threatening the communities of Pikermi and Nea Makri in northeastern Attica and to douse a new fire at Porto Germeno, western Attica.

Turkish Tanker Operator Says Abkhazia Trade Risks Too High

Τρι, 25 Αυγούστου 2009 - 14:50

The Turkish operator of a tanker that was seized by Georgian authorities for delivering fuel to breakaway Abkhazia said yesterday he had given up the idea of sending any further supplies to the Black Sea territory. Georgia has passed legislation that forbids commercial traffic heading to Abkhazia in an attempt to isolate the territory, which was recognized by Moscow as independent after a five-day war between Georgia and Russia last August.

PPC Figures

Τρι, 25 Αυγούστου 2009 - 14:44

Public Power Corp, Greece’s biggest electricity producer, may post a second-quarter profit after fuel prices fell. PPC probably had net income of 158 million euros ($226 million), compared with a loss of 141.8 million a year earlier, according to the median estimate of seven analysts in a Bloomberg News survey.

Nine Bids Made for Larco Advisers Weigh Up Options

Τρι, 25 Αυγούστου 2009 - 14:41

Nine firms have expressed interest in becoming a strategic investor in Greece’s state-run ferronickel producer Larco, the Economy and Finance Ministry said yesterday. None of the potential investors was named by the ministry. “The offers are being assessed by the government’s financial and legal advisers who will submit their recommendations to a joint ministerial privatizations commitee in coming days,” the ministry said in a statement.

Motor Oil Q2 Profit Seen Sharply Lower

Τρι, 25 Αυγούστου 2009 - 14:39

Motor Oil, Greece’s second-biggest refiner, is expected to post a 45 percent year-on-year decline in second-quarter net profit, hurt by narrower refining margins and smaller oil valuation gains.The average forecast for net profit from eight analysts polled by Reuters was 39.2 million euros ($56.1 million), down from 70.9 million in the same period a year earlier.

Nuclear Power

Τρι, 25 Αυγούστου 2009 - 14:29

Turkey’s energy minister highlighted last week problems in a tender won by a Russian company to build the country’s first nuclear power plant amid media reports that Ankara could cancel the project. A consortium led by Atomstroyexport, Russia’s state nuclear giant, was the only bidder in the tender last year and the government – unhappy with the financial terms – is yet to decide whether to go ahead.

Fires Rage Through City suburbs

Τρι, 25 Αυγούστου 2009 - 14:23

Thousands of people were evacuated from their homes and dozens of properties destroyed yesterday as a spate of forest fires tore through the northeastern suburbs of Athens, fueled by near gale-force winds, and continued to burn into the night.

CEOs of Bulgaria National Electric Company Get Fired over Inaction

Τρι, 25 Αυγούστου 2009 - 13:38

The two executive directors of the Bulgarian National Electric Company NEK, Lyubomir Velkov and Mardik Papazyan, are going to be fired by the end of the week. This was announced Monday by the Bulgarian Energy Holding, of which NEK is a subsidiary. The decision for their dismissal will be made at the upcoming Board of Directors meeting of BEH

Bulgaria PM Names New Head of Kozloduy Nuclear Plant

Τρι, 25 Αυγούστου 2009 - 13:16

Dimitar Angelov, the chief engineer in charge of Reactors 5 and 6 of Bulgaria's Kozloduy NPP will be the plant's new director. This was announced Monday by the Bulgarian Prime Minister, Boyko Borisov, hours after the current director, Ivan Genov, resigned saying he was insulted by a comment of the Economy Minister Traikov that the NPP managed had made unfavorable deals with private clients

StatoilHydro Preparing Large Oil Services Contract-Exec

Δευ, 24 Αυγούστου 2009 - 17:08

Norway's largest oil company StatoilHydro ASA (STO) is preparing a big maintenance and modification contract for its Norwegian fields and plants, which it plans to put into the market this autumn, an executive said. StatoilHydro's Chief Procurement Office Anders Opedal told Dow Jones Newswires in a recent interview the company is putting together a package to support operations at most of its offshore oil and gas installations in the coming five to seven years

Futures Rise With Oil, Bargain Buying

Δευ, 24 Αυγούστου 2009 - 17:06

Natural gas futures are slightly higher, getting support from rising crude oil prices and bargain buying after reaching a fresh seven-year low. "I think we're near the area where the market is starting to stabilize a little bit," says Gene McGillian, an analyst with Tradition Energy

Harvest Energy: No Hurricane Impact At Newfoundland Refinery

Δευ, 24 Αυγούστου 2009 - 16:59

Harvest Energy Trust's (HTE) 115,000-barrel-a-day Newfoundland, Canada refinery was unaffected by the passing of Hurricane Bill, a spokeswoman from the refinery said Monday. High winds resulting from Bill were experienced at the Come By Chance oil refinery but operations were not impacted, she said.

Russia's Lukoil Secures $1.2 Bln, 3-Year Pre-Export Loan

Δευ, 24 Αυγούστου 2009 - 16:57

Russia's second largest oil producer OAO Lukoil(LKOH.RS) said Monday it has secured a $1.2 billion syndicated pre-export loan with a consortium of international banks. As Dow Jones Newswires reported in July, the loan will mature in three years and is priced at 400 basis points over Libor

Russian Shares Offer Valuation Opportunity-Goldman

Δευ, 24 Αυγούστου 2009 - 16:50

Russian stocks have underperformed other emerging markets this summer, leaving them cheaper but offering superior earnings growth, Goldman Sachs says. "We recommend investors take advantage of what we believe is a mispricing opportunity," it says