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Oil Wont Reach $70-$75/Bbl Before 2011

Oil Won't Reach $70-$75/Bbl Before 2011

The man in charge of selling Iraq's oil said Thursday it will take at least two years for crude prices to recover to $70-$75 a barrel, so bad is the global economic outlook.

Total CEO: Costs Are Key Question For Shtokman Investment

Total CEO: Costs Are Key Question For Shtokman Investment

Total SA's (TOT) chief executive Thursday said the key question before it finalizes approval for its planned investment in Russia's Shtokman offshore gas project would be whether it's economical.

Greener Power For PPC Plants

Greener Power For PPC Plants

State-controlled Public Power Corporation (PPC) will be required to drop plans to build anthracite-powered plants and will be obliged to switch to more environmentally friendly methods, Development Minister Costis Hatzidakis said yesterday.

Russian Min Lavrov Welcomes US Offer Of Iran Talks

Russian Min Lavrov Welcomes US Offer Of Iran Talks

MOSCOW (AFP)--Russia Wednesday welcomed offers by the U.S. administration of President Barack Obama to talk with Iran, saying the approach would help efforts to end the nuclear standoff with the West.

Iran Building Seven New Satellites - Minister

Iran Building Seven New Satellites - Minister

TEHRAN (AFP)--Iran is building seven new satellites, including three for high orbit positions, the communications minister said Thursday, a week after Iran launched its first satellite amid international concerns.

OSCE Military Monitors To Stay In Georgia Till June 30

OSCE Military Monitors To Stay In Georgia Till June 30

VIENNA (AFP)--The Organization for Security and Cooperation in Europe announced Thursday it had decided to extend the mandate, which expires next week, of 20 military monitors sent to Georgia last year to oversee a ceasefire with Russia.

Turkish President Gul Begins 4-Day Visit To Russia Thu

Turkish President Gul Begins 4-Day Visit To Russia Thu

ANKARA (AFP)--Turkish President Abdullah Gul will pay a four-day visit to Russia starting Thursday in a bid to boost political and economic ties, his office said Wednesday.

Iran Denies Cypriot-flagged Ship Carrying Arms To Gaza

Iran Denies Cypriot-flagged Ship Carrying Arms To Gaza

TEHRAN (AFP)--Iran denied Wednesday that a ship being detained by Cypriot authorities reportedly on requests by the U.S. and Israel was carrying weapons to the Hamas-ruled Gaza Strip

Iran Foreign Minister Visits Baghdad For Talks  with Respect

Iran Foreign Minister Visits Baghdad For Talks with 'Respect'

BAGHDAD (AFP)--Iranian Foreign Minister Manouchehr Mottaki flew in to Baghdad Wednesday for talks with his Iraqi counterpart Hoshyar Zebari on boosting links between their two states, a foreign ministry official said

Gazprom Nefts Executive Named New CEO Of Serbias NIS

Gazprom Neft's Executive Named New CEO Of Serbia's NIS

MOSCOW (Dow Jones)--Russia's Gazprom Neft(SIBN.RS), the oil-arm of Russian gas monopoly OAO Gazprom (GAZP.RS), said that the company's Kirill Kravchenko has been appointed the new chief executive of Serbian oil monopoly NIS.

Saudi Oil Min: Renewables Push Could Create Energy Havoc

Saudi Oil Min: Renewables Push Could Create Energy Havoc

HOUSTON (Dow Jones)--The world will eventually transition its way out of fossil fuels, but forcing the change too quickly could hamper investment in the oil sector" and create a "nightmare scenario of diminishing energy supplies," Saudi Oil Minister Ali al-Naimi said late Tuesday.

IEA’s Tanaka : Energy Sector Must Remain Focused On Investment

IEA’s Tanaka : Energy Sector Must Remain Focused On Investment

HOUSTON (Dow Jones)--Executive Director of the International Energy Agency, Nobuo Tanaka, said Tuesday that the energy sector must, and governments must, invest to ensure future energy supplies and control emissions