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Eni To Spend $1.5B Over 5-Yr Period In Egypt Hydrocarbon Deal

Eni To Spend $1.5B Over 5-Yr Period In Egypt Hydrocarbon Deal

Τρι, 12 Μαΐου 2009 - 19:05

Eni SpA (E), Italy's biggest energy company by market value, said Tuesday it has agreed to two new hydrocarbon projects in Egypt that would involve a financial commitment of $1.5 billion over the next five years.

Eni CEO To Go To Russia Wed On South Stream; Still No Deal

Eni CEO To Go To Russia Wed On South Stream; Still No Deal

Τρι, 12 Μαΐου 2009 - 19:00

Eni SpA (E) Chief Executive Paolo Scaroni said Tuesday he will meet with Russian officials Wednesday to seek a deal on the South Stream natural gas pipeline project it has with OAO Gazprom (GAZP.RS), as the two energy companies appear to be far from agreement.

Algeria Says OPEC To Keep Output Level If Prices Climb

Algeria Says OPEC To Keep Output Level If Prices Climb

Τρι, 12 Μαΐου 2009 - 18:57

The Organization of Petroleum Exporting Countries, or OPEC, will maintain its current production levels at its next meeting if oil prices continue to climb, Algeria's oil minister, Chakib Khelil, said Tuesday, according to the Kuwait News Agency. "There is no need to change the level of production if oil prices keep increasing like they are now," Khelil said, according to the official Kuwaiti agency, also known as KUNA.

Bankers Petroleum Gets USD110mn Loan For Albanian Operation

Bankers Petroleum Gets USD110mn Loan For Albanian Operation

Τρι, 12 Μαΐου 2009 - 14:43

Canada-based Bankers Petroleum announced that it had finalized loan agreements with the International Finance Corporation and European Bank for Reconstruction and Development for reserve-based long-term financing of up to USD110 million. The credit will be used to fund capital requirements and working capital needs for the oil and gas company's projects in Albania.

RWE Innogy Eyes Around 900 MW In Italy Renewables Capacity

RWE Innogy Eyes Around 900 MW In Italy Renewables Capacity

Δευ, 11 Μαΐου 2009 - 17:11

RWE Innogy, the renewables energy unit of German utility RWE AG (RWE.XE) plans to build around 900 megawatt of generation capacity in Italy in coming years, Chief Executive Fritz Vahrenholdt said Monday.

E.ON Exec: Plan To Invest EUR1.5B/Yr In Renewables Long-term

E.ON Exec: Plan To Invest EUR1.5B/Yr In Renewables Long-term

Δευ, 11 Μαΐου 2009 - 17:09

Utility E.ON AG (EOAN.XE) plans to invest around EUR1.5 billion a year in renewable energies over the long-term, said Cord Landsmann, chief executive of E.ON's renewable energy unit, Climate & Renewables, Monday.

Iran OPEC Head: Global Crude Oil Stocks Should Be Reduced

Iran OPEC Head: Global Crude Oil Stocks Should Be Reduced

Δευ, 11 Μαΐου 2009 - 17:07

Iran's OPEC governor said the Organization of Petroleum Exporting Countries will either cut production at its May 28 meeting to reduce record-high crude oil stock levels, or decide to maintain current output on expectations of an improved economic situation and a rise in demand.

Eni Sees EBIT Over EUR12B In 2009

Eni Sees EBIT Over EUR12B In 2009

Δευ, 11 Μαΐου 2009 - 16:16

Oil giant Eni SpA (E) expects its 2009 earnings before interest and taxes to be over EUR12 billion and adjusted net profit to be EUR5 billion, assuming an exchange rate of EUR1.30 against the dollar and oil prices at $50 a barrel, financial daily Il Sole 24 Ore reports Sunday.

Baghdad OKs Northern Iraq Kurdish Oil Exports

Baghdad OKs Northern Iraq Kurdish Oil Exports

Δευ, 11 Μαΐου 2009 - 16:15

The Iraqi federal oil ministry said Sunday it will allow the autonomous Kurdish government in northern Iraq to start exporting crude oil in June to world markets in a move that will boost badly needed oil export revenues for Baghdad.

Sofia seeks N-plant funding

Sofia seeks N-plant funding

Δευ, 11 Μαΐου 2009 - 15:52

Bulgaria is counting on loans from Russia, Germany and France to build a new 4-billion-euro nuclear power plant on the Danube, Deputy Economy and Energy Minister Yavor Kuyumdjiev said yesterday. Funding for the plant, which was due to come from the Bulgarian state and German power giant RWE, was proving difficult, Kuyumdjiev said in an interview with the daily Klassa published yesterday.

EU Meets Caspian Region Leaders On Nabucco Pipeline

EU Meets Caspian Region Leaders On Nabucco Pipeline

Παρ, 8 Μαΐου 2009 - 15:25

The European Union opened talks with leaders from the Caspian sea region and beyond in Prague Friday to breathe some life into the ambitious Nabucco pipeline project designed to take non-Russian gas to Europe.