English Edition

Azerbaijan's Socar Jan Oil Output Up 1.2% On Yr

Πεμ, 19 Φεβρουαρίου 2009 - 16:53

The State Oil Company of Azerbaijan, or SOCAR, said Wednesday it increased its oil output 1.2% on the year to 746,310 metric tons in January, according to the Prime-Tass news agency.

Turkey In Talks Over Caspian Gas Pipeline To Balkans

Πεμ, 19 Φεβρουαρίου 2009 - 16:52

Turkish Prime Minister Recep Tayyip Erdogan said Wednesday his country is in talks with officials for a possible pipeline project that will carry Caspian natural gas to the Balkans, the Ihlas News Agency, or IHA, reported.

Russia, Georgia Agree On Conflict Prevention

Πεμ, 19 Φεβρουαρίου 2009 - 16:51

Russia and Georgia have agreed on proposals aimed at preventing conflicts, a European Union envoy said Wednesday following two days of security talks here.

Ukraine's Naftogaz: Payment To Gazprom May Deteriorate

Πεμ, 19 Φεβρουαρίου 2009 - 16:49

Ukraine's national natural gas company Naftogaz said Thursday that its payments for imported gas to Russia's gas monopoly OAO Gazprom (GAZP.RS) might deteriorate due to a "catastrophe rise in nonpayment" from Ukraine's municipal services.

Total To Sign $5 Bln Gas Deal With Iran By Mar 20

Πεμ, 19 Φεβρουαρίου 2009 - 16:46

French energy giant Total S.A. (TOT) will sign a $5 billion contract with Iran by Mar. 20 to develop phase 11 of the giant South Pars natural gas field in the Persian Gulf, the state Islamic Republic of Iran Broadcasting, or IRIB, reports Wednesday.

Rosneft Will Use China Credit Mainly For Refinancing

Πεμ, 19 Φεβρουαρίου 2009 - 16:45

Russia's biggest oil producer OAO Rosneft (ROSN.RS) plans to use a large part of the $15 billion loan it secured from China Development Bank for refinancing purposes, Vedomosti daily reports Thursday, citing the company's Chief Financial Officer Peter O'Brien.

Europe Court To Examine Yukos Complaints Against Russia

Πεμ, 19 Φεβρουαρίου 2009 - 16:39

Former managers with Russia's bankrupt oil giant OAO Yukos have won their bid to take Moscow before Europe's human rights court in a case they say could mean a record claim for damages.

Transgaz Profit

Πεμ, 19 Φεβρουαρίου 2009 - 14:09

Romanian gas pipeline operator Transgaz yesterday posted a 6.5 percent rise in 2008 net profit, missing market forecasts, as gas demand slowed more than expected. The state monopoly posted a net profit of 238.6 million lei ($70 million), compared with an average forecast of 259 million lei in a Reuters poll.

Greeks and Azeris Make Energy Plans

Πεμ, 19 Φεβρουαρίου 2009 - 14:05

Turkey’s insistence on controlling trade in Azeri natural gas which crosses Turkish territory is posing serious obstacles to European plans for the transit of the commodity through Greece to Italy. The issue was reaffirmed yesterday during a visit by the president of Azerbaijan, Ilham Aliyev, to Athens, with a delegation of officials from the Azeri state gas company Socar. “Azerbaijan is making an effort to strengthen Europe’s energy security,” said Aliyev, stressing the Caspian Sea country’s willingness to expand cooperation with Greece.

CPC Expansion to Strengthen Burgas – Alexandroupolis Pipeline Project

Τετ, 18 Φεβρουαρίου 2009 - 19:08

When the “Caspian Pipeline Consortium” (CPC) pipeline became operational for the first time in 2001, nobody anticipated the many obstacles – both political and economic – that its expansion would eventually face. While the first discussions about the drafting of a Memorandum of Understanding between the existing CPC stakeholders started on March 1st 2005, the final document was signed 3.5 years later, in December 2008.

Kazakhstan Needs More Oil Export Capacity

Τετ, 18 Φεβρουαρίου 2009 - 15:28

The oil-rich Central Asian nation of Kazakhstan urgently needs more export capacity if it hopes to meet its ambitious plans for increasing oil production in the coming years, a senior Chevron Corp. (CVX) executive said Tuesday.

Greece, Azerbaijan To Cooperate More On Energy Security

Τετ, 18 Φεβρουαρίου 2009 - 15:23

Greek Prime Minister Costas Caramanlis and Azerbaijani President Ilham Aliyev agreed Tuesday to work more closely on getting Azeri gas into Europe to help ease its energy security problems.

Russians, Georgians Resume Security Talks In Geneva

Τετ, 18 Φεβρουαρίου 2009 - 15:22

Russia and Georgia resumed talks in Geneva Tuesday on security arrangements in the wake of their conflict last year, the U.N. said, two months after they failed to wrap up an agreement.