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TPAO, Botas, Shell Sign Prelim Iraq Gas Exploration Deal

TPAO, Botas, Shell Sign Prelim Iraq Gas Exploration Deal

Turkey's state oil company TPAO, state-owned pipeline and gas company BOTAS and Royal Dutch Shell PLC (RDSA) Thursday signed a preliminary agreement for exploration, transportation and marketing of Iraqi natural gas, the Ihlas News Agency, or IHA, reported.

Turkey Could Get $2.8B From World Bank In 09

Turkey Could Get $2.8B From World Bank In '09

Turkey plans to secure $2.8 billion credit form the World Bank in 2009, Turkish Economy Minister Mehmet Simsek said in the text of speech released Thursday on the Web site of the Turkish Treasury, the Ihlas News Agency, or IHA, reported.

Germanys Wingas Confirms Shelving EUR600M Pipeline Project

Germany's Wingas Confirms Shelving EUR600M Pipeline Project

German natural gas pipeline operator Wingas Transport GmbH & Co. KG Wednesday confirmed it has shelved plans to build a EUR600-million natural gas pipeline in southern Germany, citing "increasing regulatory intervention."

Eni Signs Exploration Deals With Ecopetrol

Eni Signs Exploration Deals With Ecopetrol

Eni SpA (E), Italy's biggest energy company by market value, said Thursday it has signed two partnership deals with Colombian state-controlled Ecopetrol (ECOPETROL.BO) on exploration activity, as it aims to boost its assets in South America.

Lukoil Is In Talks To Buy Large Repsol Stake

Lukoil Is In Talks To Buy Large Repsol Stake

Russia's second biggest oil producer OAO Lukoil (LKOH.RS) is in talks with key shareholders of Repsol YPF SA (REP) to buy a large stake in the Spanish oil company, people familiar with the situation said Thursday.

Vestas receives order for 58 MW in Greece

Vestas receives order for 58 MW in Greece

Vestas has received an order for two projects totalling 29 units of the V90-2.0 MW wind turbine. The projects have a total installed capacity of 58 MW, and the turbines for the projects will be delivered during 2009. At the customer’s request, details about the project ownership, exact location, etc. cannot be disclosed. With a total estimated annual production of 213 GWh, the wind power plants will save the environment from more than 165 tons of CO2 emissions.

NPP Belene Meets Highest Requirements for Third Generation NPPs

NPP Belene Meets Highest Requirements for Third Generation NPPs

NPP Belene meets the highest requirements for third generation NPPs, Harmut Pam, vice president of ‘Nuclear Power Plants' department at RWE Power, said. The Bulgarian government has chosen RWE Power as the main investor in the construction of the second NPP in Bulgaria.

Tariff Hike Needed for PPC Plan

Tariff Hike Needed for PPC Plan

Greece’s largest energy utility, Public Power Corporation (PPC), said yesterday it may seek an equity increase to fund its 2009-2014 business plan if the government does not approve tariff rises. PPC, which has a market capitalization of 2.2 billion euros, is planning to invest about 11.5 billion euros under a six-year plan to modernize operations, expand abroad and boost profits in a newly liberalized market.

Turks Want New Energy Routes

Turks Want New Energy Routes

Turkish President Abdullah Gul yesterday joined east European leaders at a summit in Azerbaijan aimed at promoting energy routes to Europe outside Russia’s influence. Amid concerns in the region that US president-elect Barack Obama will see the Caucasus and eastern Europe as less of a priority, a senior US official told the summit that he expected Washington to stay engaged in the area.

Turkmenistan Important Partner To Pipeline

Turkmenistan Important Partner To Pipeline

Austrian Finance Minister Wilhelm Molterer hailed Turkmenistan as an "important partner" in the European Union-backed Nabucco pipeline project on Tuesday as the country's president Gurbanguly Berdymukhamedov continued his official visit to Vienna.

World Bank Sees Falling Ruble As Oil Tumbles

World Bank Sees Falling Ruble As Oil Tumbles

The Russian ruble will continue to drop as falling oil prices weaken the country's financial position, the World Bank said in a survey published Tuesday.

Gazprom Seeks Oil Majors As Partners For Arctic LNG Projects

Gazprom Seeks Oil Majors As Partners For Arctic LNG Projects

Russian gas giant OAO Gazprom (GAZP.RS) may invite international oil majors such as ConocoPhillips (COP) and Exxon Mobil Corp. (XOM) to jointly develop gas projects in the country's Arctic region, the company said Tuesday.

EU Mulls CO2 Emission Allowances Break For Eastern Europe

EU Mulls CO2 Emission Allowances Break For Eastern Europe

Power stations in eastern Europe could receive millions of euros of free carbon emission allowances to overcome opposition to a European Union climate pact, The Financial Times reports on its Web site Wednesday.

Iran A Threat To UAE, Mideast Financial Systems

Iran A Threat To UAE, Mideast Financial Systems

Financial systems in the U.A.E. and Middle East are under the threat of being used by Iran to finance its nuclear and missile programs as well as fund terrorism, a U.S. official said Wednesday.