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Oils Drag On Russia Poses Test For Putin

Oil's Drag On Russia Poses Test For Putin

The prospect of sharply lower prices for oil and other commodity exports -- on top of plunging stock markets and a seized-up financial system -- threatens the economic recovery that's been a foundation of Vladimir Putin's rule in Russia.

Iran OPEC Head: OPEC Could Be Prepared To Cut 1 Mln Bbl

Iran OPEC Head: OPEC Could Be Prepared To Cut 1 Mln Bbl

Organization of Petroleum Exporting Countries could be prepared to cut production by 1 million barrels a day in a "first phase" of cuts as world oil demand has fallen by 2 million barrels a day, the state Irna news agency reports Monday, citing Iran's OPEC governor.

Equatorial Guineas EG/LNG Signs Deal With Gazprom

Equatorial Guinea's EG/LNG Signs Deal With Gazprom

Russian energy giant OAO Gazprom (GAZP.RS) and Equatorial Guinea's liquified natural gas company, EG/LNG, have reached an agreement to cooperate in the areas of gas and energy, national radio reported Sunday.

Libyan Leader To Visit Russia; Arms On The Agenda

Libyan Leader To Visit Russia; Arms On The Agenda

Libyan leader Moammar Gadhafi will visit Moscow Oct. 31 for talks with Russian President Dmitry Medvedev on arms purchases and other deals, business daily Vedomosti reported Monday.

Gazproms CEO Expects To Post Net Profit Of $30 Bln In 2008

Gazprom's CEO Expects To Post Net Profit Of $30 Bln In 2008

Russia's OAO Gazprom (GAZP.RS) expects to post a net profit of $30 billion in 2008 on revenue of $100 billion, the company's Chief Executive Alexei Miller said Sunday in an interview on Vesti news channel.

Arawak Energy Net Production Up To 12,750 bopd

Arawak Energy Net Production Up To 12,750 bopd

Arawak Energy said Thursday that Company's net production has risen to 12,750 barrels of oil per day (bopd) following a rise in produced volumes at the Akzhar and Besbolek fields in Kazakhstan.

OMV CEO:Georgia War Strengthened EU Resolve On Nabucco Pipe

OMV CEO:Georgia War Strengthened EU Resolve On Nabucco Pipe

The war in Georgia has strengthened European Union policymakers' resolve to see through the construction of the planned Nabucco gas pipeline, which is to channel gas from the Caspian Sea region to Europe around Russia, said Austrian oil and gas company OMV AG's (OMV.VI) chief executive Thursday.

Gazprom:No Deal With TNK-BP If Kovykta License Isnt Extended

Gazprom:No Deal With TNK-BP If Kovykta License Isn't Extended

Russia's state-controlled gas producer OAO Gazprom (GAZP.RS) will pull out of an agreement to buy a stake in the giant Kovykta gas field from TNK-BP Holding (TNBP.RS), if the license for the field isn't extended, Gazprom spokesman Sergey Kuprianov said Friday.

Start Of Finnish Nuclear Unit Olkiluoto Delayed Again

Start Of Finnish Nuclear Unit Olkiluoto Delayed Again

Finnish nuclear utility Teollisuuden Voima Oyj, or TVO, Friday said its EUR3 billion Olkiluoto 3 nuclear plant may not startup until 2012, three years later than initial estimates, adding to a string of postponements relating to the plant supplier.

PGNiG Likely To Get OK For About 10% Gas Tariff Hike

PGNiG Likely To Get OK For About 10% Gas Tariff Hike

Poland's energy market regulator, Energy Regulatory Office, or URE, is likely to approve Polskie Gornictwo Naftowe i Gazownictwo (PGN.WA), or PGNiG's, gas tariff increase of about 10%, two people familiar with the matter told Dow Jones Newswires Friday.

Turkmenistan Gas Field Is One Of Worlds Largest

Turkmenistan Gas Field Is One Of World's Largest

A long-awaited study of a big natural-gas field in Turkmenistan identified it as the fifth largest in the world, independently confirming for the first time the Caspian state's status as one of the world's great hydrocarbon provinces.