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Romanian Oltchim To Buy Petrom s Petrochem Ops For EUR62M -Mediafax

Romanian Oltchim To Buy Petrom s Petrochem Ops For EUR62M -Mediafax

Romanian state-owned chemical plant Oltchim (OLT.RO) will take over the petrochemical arm of Arpechim refinery by the end of August, in a EUR62 million transaction, which doesn't include Oltchim's debts to the refinery's owner, oil company Petrom (SNP.RO), news agency Mediafax reported.

Baku-Tbilisi-Ceyhan Pipe Jan-Jun Oil Throughput 17.7M Tons

Baku-Tbilisi-Ceyhan Pipe Jan-Jun Oil Throughput 17.7M Tons

The BP PLC (BP)-led Baku-Tbilisi-Ceyhan pipeline exported 17.7 million metric tons of Azeri and Kazakh oil in the first six months of 2009, up 1.1% from the same period last year, Azerbaijan's state oil company Socar said Thursday

Japan Hopes For Stakes In Iraq Nassiriya Oil Field -Official

Japan Hopes For Stakes In Iraq Nassiriya Oil Field -Official

Japan's Minister of Economy, Trade and Industry Toshihiro Nikai, who met with Iraqi Oil Minister Hussain al-Shahristani in Tokyo Thursday, requested special consideration of stakes sought by Japanese companies at Nassiriya and other oil and gas fields, said a senior METI official who also attended the meeting.

Clinton Calls For Stricter Sanctions Against Iran

Clinton Calls For Stricter Sanctions Against Iran

Washington will call for "even stricter sanctions on Iran to try to change the behavior of the regime," U.S. Secretary of State Hillary Clinton said in a TV interview broadcast in Venezuela.

Sibir Energy Office Searched By Police

Sibir Energy Office Searched By Police

Russian law enforcement agencies Wednesday conducted a search at a subsidiary of London-listed oil firm Sibir Energy PLC's (SBE.LN), the company said in a statement.

Iran Invites China To Take Part In US$43B Oil Proj - Report

Iran Invites China To Take Part In US$43B Oil Proj - Report

HONG KONG (Dow Jones)--Iran is inviting China to get involved in deals in several huge oil projects worth more than US$42.8 billion, as the Islamic nation seeks to boost its crude refining capacity, the South China Morning Post reported Wednesday, citing the Ministry of Petroleum of Iran.

Obama Concludes Russia Visit; Heads To Italy

Obama Concludes Russia Visit; Heads To Italy

MOSCOW (AFP)--U.S. President Barack Obama concluded his trip to Moscow on Wednesday, having met Russian leaders and signed a handful of security deals in his mission to heal badly strained relations with Moscow.

EU: GDF Suez Offers Remedies To Up Mkt Competition

EU: GDF Suez Offers Remedies To Up Mkt Competition

BRUSSELS (Dow Jones)--The European Commission is seeking comments from interested parties on remedies energy giant GDF Suez SA (GSZ.FR) has offered to increase competition in the French gas market, in which it has been accused of abusing its dominant position, it said Wednesday.

EU Fines GDF Suez,E.ON EUR1.1B For Gas Mkt Cartel

EU Fines GDF Suez,E.ON EUR1.1B For Gas Mkt Cartel

BRUSSELS (Dow Jones)--French and German energy giants GDF Suez SA (GSZ.FR) and E.ON AG (EOAN.XE) face a EUR553 million fine each for agreeing not to compete on each other's national gas markets, the European Commission said Wednesday.

Pirates Seize Turkish Cargo Ship Off Somalia -TV

Pirates Seize Turkish Cargo Ship Off Somalia -TV

ANKARA (AFP)--Pirates Wednesday seized a Turkish cargo ship and its all-Turkish crew of 23 off the coast of Somalia, the Anatolia news agency reported, quoting the ship's owner.

Flight of BP and Shell Illustrates Problems of Local Framework

Flight of BP and Shell Illustrates Problems of Local Framework

Multinationals are forced out of the country as others are turned away. British Petroleum is leaving Greece after 58 years of commercial activity in the country, because the present environment allows it no room to expand, according to its officials. The departure from Greece of two major multinational companies, British Petroleum (BP) – which has already occurred – and soon Shell as well as the very low amount of foreign direct investments should all be a reminder to most that the country remains less than hospitable to multinational firms and foreign companies in general

Medvedev:Russia Wants To Diversify Of US Investment

Medvedev:Russia Wants To Diversify Of US Investment

Russia is interested in diversification of U.S. investments, Russian President Dmitry Medvedev said Tuesday at a Russian-U.S. business forum, Prime-Tass news agency reports, citing ITAR-TASS.

Gazprom Confirms Naftogaz Full June Gas Payment

Gazprom Confirms Naftogaz Full June Gas Payment

Russia's gas monopoly OAO Gazprom (GAZP.RS) said Tuesday Ukraine's state natural gas company Naftogaz has submitted full payment for June deliveries.