English Edition

Office Of Fair Trade Clears Centrica Stake In British Energy

Παρ, 7 Αυγούστου 2009 - 16:21

Office of Fair Trading (OFT) said today it has given merger clearance to the anticipated acquisition by Centrica (CNA.LN) from EDF Group (EEN.FR) of a minority interest in British Energy. Under the terms of an agreement with EDF, Centrica is proposing to purchase a 20% shareholding in Lake Acquisitions, the EDF subsidiary that owns British Energy, with EDF retaining the remaining 80%.

Ankara gives green light, «in principle» for South Stream pipeline’s passage

Πεμ, 6 Αυγούστου 2009 - 14:00

Turkey has agreed “in principle” to allow the South Stream gas pipeline to pass through its territorial waters, a senior Russian official said yesterday ahead of a visit by Prime Minister Vladimir Putin to Turkey. Putin’s trip follows a signing ceremony in Ankara last month for transit agreements for the rival Nabucco gas pipeline, a European Union-backed project designed to counter Russia’s strong influence on European energy supplies.

Aegean drilling

Πεμ, 6 Αυγούστου 2009 - 13:55

Aegean Energy SA said it plans to start drilling at its offshore Epsilon field, in the Gulf of Kavala, northern Greece, next month, having tripled production from the Prinos North field. The company completed its Prinos North field development plan at a cost of about $38 million and increased production to over 3,000 barrels a day, Aegean said in a statement.

Mytilineos posts high earnings

Πεμ, 6 Αυγούστου 2009 - 13:53

Metals and energy group Mytilineos reported yesterday first-half net profits of 10.4 million euros, versus 24.1 million euros a year earlier, due to weaker revenues from its power plant building unit Metka. First-half profits in 2008 had included nonrecurring income of 20.3 million euros. The first-half profit figure beat the 7.7-million-euro figure analysts were expecting, according to Bloomberg News.

Russia Official:Turkey To OK S Stream Construction Thu

Τετ, 5 Αυγούστου 2009 - 18:19

Turkey will grant permission for the construction of the South Stream gas pipeline across its Black Sea sector when it signs a bilateral protocol with Russia Thursday, the RIA Novosti news agency reported Wednesday, citing a Russian government official.

Gazprom Sees First LNG Cargos To US In Winter

Τετ, 5 Αυγούστου 2009 - 18:15

Russian gas giant OAO Gazprom (GAZP.RS) may send its first shipments of liquefied natural gas, or LNG, from the Sakhalin-2 project to North America this winter, the company said in an interview Monday.

Russia,Venezuela Discuss Nuclear Research Reactor Plans

Τετ, 5 Αυγούστου 2009 - 18:11

Russia and Venezuela have discussed prospects for building nuclear research reactors and distillation reactors, the RIA Novosti news agency reports Wednesday, citing a statement from Russian civilian nuclear power holding company Atomenergoprom.

Ukraine PM:Ukraine Has Paid Russia In Full For July Gas

Τετ, 5 Αυγούστου 2009 - 18:09

Ukrainian Prime Minister Yulia Tymoshenko said Wednesday that Ukraine has paid Russia in full for gas pumped into its storage facilities in July, the RIA Novosti news agency reports.

TNK-BP To Build New Gas Processing Plant By 2012

Τετ, 5 Αυγούστου 2009 - 18:06

BP PLC's (BP) Russian joint venture TNK-BP Ltd. plans to construct a new gas processing facility, which will enable the company to utilize almost 100% of its associated gas by 2012, the company said Wednesday.

Gazprom To Buy Controlling Stake In Kyrgyzstan Gas Co

Τετ, 5 Αυγούστου 2009 - 18:04

Russian energy company OAO Gazprom (GAZP.RS) will acquire a controlling stake in Kyrgyzstan's national gas company Kyrgyzgaz, Russian news agency RIA Novosti reports on its Web site Wednesday, citing the central Asian republic's ambassador to Moscow.

Turkey's Petrol Ofisi To End Subsidiary Operations

Τετ, 5 Αυγούστου 2009 - 18:02

Turkish fuel distributor Petrol Ofisi AS (PTOFS.IS) said Wednesday it has decided to terminate the operations of its overseas subsidiaries Petrofinance NV and PO Oil Financing Ltd., the Ihlas News Agency, or IHA, reports.

EPCG privatization

Τετ, 5 Αυγούστου 2009 - 16:14

Montenegro’s Privatization Council confirmed yesterday that Italy’s A2A won the tender competition to take a minority stake in power monopoly Elektroprivreda Crne Gore (EPCG). The Italian company will acquire 11,457,357 shares, or 18.3 percent in EPCG, at 8.40 euros per share.

Mytilineos expected to report H1 profit drop

Τετ, 5 Αυγούστου 2009 - 16:12

Mytilineos Holdings SA, a Greek metals and energy group founded in 1908, is expected to announce that first-half profits fell as revenue declined following the suspension of Romanian operations and project delays at its Metka unit. Net income probably slid 68 percent to 7.7 million euros ($11 million) from 24.1 million euros a year earlier, according to the median estimate of six analysts Bloomberg News surveyed by e-mail and telephone.

Russia seeks an energy foothold

Τετ, 5 Αυγούστου 2009 - 16:09

Russia’s Prime Minister Vladimir Putin is likely to use a trip to Ankara tomorrow to try to get Turkey to support a mega-pipeline that will help Moscow outpace a rival EU project to safeguard its European gas market. Putin’s trip follows a signing ceremony in Ankara last month for transit agreements for the European Union-backed Nabucco natural gas pipeline, designed to counter Russia’s strong influence over European energy supplies.

PPC misses out on Montenegro tender

Τετ, 5 Αυγούστου 2009 - 16:06

Montenegro yesterday accepted an offer from Italian utility A2A for a minority stake in power monopoly EPCG, Deputy Prime Minister Vujica Lazovic said, beating a rival, higher offer by Greece’s Public Power Corporation. The PPC offer was deemed “incompatible” with the rules of the tender, a day after the company, bidding with GoldenEnergy One Holdings, a unit of the Greek shipping group Restis, said it had no conditions attached to its offer.

Bulgaria backs South Stream, unsure on future of N-plant

Τετ, 5 Αυγούστου 2009 - 16:04

Bulgaria will push ahead with the South Stream gas pipeline but has yet to decide whether or not to abandon the Belene nuclear power project, the economy and energy minister said yesterday. The new center-right government, which took office last week, has said it needs to revise its commitments on major energy projects as they could worsen the budget situation in the country, hit by the global economic crisis and falling revenues.