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EU Parliament Backs EUR5B Plan To Boost Energy, Internet Grids

Τετ, 6 Μαΐου 2009 - 17:37

The European Parliament backed Wednesday a plan to allocate EUR5 billion to develop the European Union's energy and broadband networks over this year and 2010.

E.ON Restructures Pwr Network Ops, Spins Of Transmission Grid

Τετ, 6 Μαΐου 2009 - 17:36

Utility E.ON AG (EOAN.XE) said Wednesday it has reorganized its electricity grid operations, spinning-off its ultra-high voltage power transmission grid into an independent unit ready for sale.

Germany's Merkel Links Mideast, Iranian Nuclear Issue

Τετ, 6 Μαΐου 2009 - 17:34

German Chancellor Angela Merkel said Wednesday that progress in the Middle East peace process would boost the chances of the West ending its standoff with Iran over its disputed nuclear program.

Total CFO: Co Continues To Review Acquisition Opportunities

Τετ, 6 Μαΐου 2009 - 17:33

Oil major Total SA (TOT) continues to review acquisition opportunities but won't consider buying units if sellers persist in assuming a high oil price scenario, Chief Financial Officer Patrick de la Chevardiere said Thursday.

Endesa Signs EUR2B Loan; Extends EUR1.28B Credit Line To 2012

Τρι, 5 Μαΐου 2009 - 19:22

Spanish electricity company Endesa SA (ELE.MC) said Monday that it has signed a EUR2 billion, two-year loan and extended the maturity of a EUR1.28 billion loan to 2012 from 2010.

Eni Gets Operatorship In Barents Sea New Exploration Licenses

Τρι, 5 Μαΐου 2009 - 19:20

Eni SpA (E), Italy's biggest energy company by market value, said Tuesday it got the operatorship and participating interests in two exploration licenses offshore Norway, as it strengthens its presence in the hydrocarbon-rich Scandinavian country.

Romanian Romgaz 1Q Net Pft RON208.6M, Dn 31% On Yr

Τρι, 5 Μαΐου 2009 - 19:19

Romania's largest gas producer Romgaz Medias reported in a 31% fall in first-quarter net profit to 208.6 million lei ($66 million), news agency Mediafax reports the company as saying Tuesday.

Iran To Finalize Turkmenistan Gas Field Contract

Τρι, 5 Μαΐου 2009 - 19:18

Iran is set to finalize a contract with Ashghabat to develop Turkmenistan's Yolotan natural gas field, the Iran Daily newspaper reports Tuesday.

Abu Dhabi To Start Oil Pipe Bypassing Horumuz In 2011

Τρι, 5 Μαΐου 2009 - 19:15

Abu Dhabi's International Petroleum Investment Co., or IPIC, will start pumping oil through a new pipeline that will avoid the narrow Strait of Hormuz in 2011, a senior company official said Wednesday.

OPEC's 11 Members 83% Compliant,Still 705,000 B/D To Cut

Τρι, 5 Μαΐου 2009 - 19:14

OPEC's 11 quota-bound members were complying with 83% of agreed cuts in April and still have 705,000 barrels left to cut, Vienna-based consultancy JBC Energy said Tuesday.

Petrobras, Turkish Petroleum Sign Pact To Operate In Black Sea

Τρι, 5 Μαΐου 2009 - 19:12

Brazil's state-run oil firm Petroleo Brasileiro (PBR), or Petrobras, has signed an accord with counterpart Turkish Petroleum Corporation to operate an oil-drilling platform in the Black Sea, Petrobras said Monday.

Russia's Slippery Oil Boost

Τρι, 5 Μαΐου 2009 - 19:11

After months of struggling, Russia says its crude production rose nearly 1% in April. If sustained, that could bode well for global oil supplies in the event demand ever recovers. But take the latest data with a grain of salt.

Greek Economy to Shrink in 2009

Τρι, 5 Μαΐου 2009 - 14:53

European Economic and Monetary Affairs Commissioner Joaquin Almunia presents the spring economic forecast in Brussels yesterday, which includes a grimmer outlook for the domestic economy. The European Commission expects Greece’s economy to tip into recession this year, for the first time in more than 15 years, due to the ongoing crisis and prevailing uncertainty.