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IEA Head: Hope Saudi Will Continue Current Output Levels

Πεμ, 11 Σεπτεμβρίου 2008 - 11:35

The International Energy Agency hopes Saudi Arabia will maintain its current oil output level, Executive Director Nobuo Tanaka said Thursday.

Czech Crude Oil Reserve To Rise 19% To Hold 110 Days Of Oil

Πεμ, 11 Σεπτεμβρίου 2008 - 11:34

The Czech Republic is increasing the capacity of its strategic crude oil reserve facilities by 19% to hold 1.55 million cubic meters of oil, or enough to last 110 days, the Administration of State Material Reserves, or SSHR, said.

PPC says spin-offs necessary for future

Τετ, 10 Σεπτεμβρίου 2008 - 15:38

Greece’s largest electricity utility, Public Power Corporation (PPC), needs to split its operations into separate production and distribution units soon in an effort to return to profitability. “The restructuring of PPC is fundamental to boosting efficiency and competitiveness and is absolutely necessary to secure PPC’s viability,” the company said in a statement.

Serbia Oil Monopoly NIS Valued At EUR2.2 Mln By Deloitte

Τετ, 10 Σεπτεμβρίου 2008 - 15:36

Serbia's oil monopoly NIS, set to be sold to Russian giant Gazprom (GAZP.RS), is worth EUR2.2 billion, a global consulting firm estimated in a report published Saturday. "Based on our research, examination and analysis we estimate that fair market value of 100% of capital of the Oil Industry of Serbia (NIS)... is EUR2.2 billion," consultants Deloitte said in the report published on the Serbian government Web site.

Turkish Min: We Will Realize Nabucco Project

Τετ, 10 Σεπτεμβρίου 2008 - 12:29

Turkish Energy Minister Hilmi Guler said Tuesday that his country will definitely realize Nabucco Project, the Ihlas News Agency, or IHA, reported.

Baku-Tbilisi-Ceyhan Pipeline Shuts For 3 Days In End-Sept

Τετ, 10 Σεπτεμβρίου 2008 - 12:21

The Baku-Tbilisi-Ceyhan pipeline, or BTC, will be out of operation for two to three days in the end of September due to planned maintenance, Azerbaijan's state oil company Socar said Tuesday.

Azerbaijan Says Hasn't Approved Lukoil, Gaz De France Deal

Τετ, 10 Σεπτεμβρίου 2008 - 12:19

Azerbaijan's state oil company Socar said Tuesday it hasn't been notified about a deal that would see Gaz de France Suez SA (GSZ.FR) acquire a stake of a block in the Azeri sector of the Caspian Sea from Russia's OAO Lukoil (LKOH.RS).

EIA: OECD End 3Q Oil Stocks Seen Near Normal Levels

Τετ, 10 Σεπτεμβρίου 2008 - 12:17

Company-held oil inventories in the major industrialized countries are expected to be near normal levels heading into the fourth quarter as demand slides, the U.S. Energy Information Administration said Tuesday.

Russia Bids To Strengthen OPEC Ties

Τετ, 10 Σεπτεμβρίου 2008 - 12:16

Russia upped the ante in its faceoff with the West by proposing "extensive cooperation" with the OPEC oil cartel, an idea that would stir concerns among big oil-consuming countries like the U.S.

EU Offers Ukraine Closer Ties But No Membership Pledge

Τετ, 10 Σεπτεμβρίου 2008 - 12:14

Ukraine on Tuesday took a step toward closer ties with the European Union but failed to win a pledge of membership in the bloc at a Paris summit overshadowed by the Russia-Georgia conflict.

Russia Begins Pull-out From Georgia

Τετ, 10 Σεπτεμβρίου 2008 - 12:12

Russian troops withdrew Tuesday from a Georgian village near the breakaway region of Abkhazia in the "first sign" of a promised pull-out from the country, the Georgian interior ministry said.

Iran Oil Min: Iran Will Act On Basis Of OPEC Decision

Τετ, 10 Σεπτεμβρίου 2008 - 12:11

Iran's oil minister said Tuesday Iran wouldn't independently change its oil production level to impact falling crude prices, the oil ministry's official Shana news Web site reported Tuesday.

IEA:Global Oil Mkt Fundamentals Likely To Ease In Mos Ahead

Τετ, 10 Σεπτεμβρίου 2008 - 12:00

The International Energy Agency on Wednesday said weaker economic growth and the effects of high oil prices were easing tight world crude market conditions in a report suggesting more energy price relief could be in the offing.