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Russian Brokerage Tetlis Seeks Up To $400M From BP

Πεμ, 22 Μαΐου 2008 - 02:41

Moscow brokerage ZAO Tetlis is seeking up to $400 million from BP PLC (BP), the daily Vedomosti reported Thursday citing documents filed with a court in Russia's Siberia.

Russia Tatneft Seeks $1.1B From Ukraine In Compensation

Πεμ, 22 Μαΐου 2008 - 02:38

Russia's crude producer OAO Tatneft (TATN.RS) is taking legal action to obtain $1.1 billion from Ukraine in compensation for the loss of control of its former affiliate, Ukrtatnafta, the daily Vedomosti reported Thursday, citing an unnamed Tatneft official.

Oil Fundamentals Don't Justify Rally

Πεμ, 22 Μαΐου 2008 - 02:35

Oil market fundamentals don't justify this week's $10/bbl rally, says Edward Meir at MF Global. The weaker dollar has come up from its recent lows, Nigerian unrest hasn't worsened, and US energy demand continues to deteriorate.

Iran NIOC Official: Lack Of Investment Driving Oil Prices

Πεμ, 22 Μαΐου 2008 - 02:32

A lack of international investment in oil exploration and production activities, which threatens to constrain growth in future oil supplies, is a primary factor behind the rise in global oil prices, an official from the National Iranian Oil Company told Dow Jones Newswires.

OPEC's El-Badri: No Shortage Of Oil In The Market

Τετ, 21 Μαΐου 2008 - 04:36

The Secretary General for the Organization of Petroleum Exporting Countries said late Tuesday that oil markets are well supplied and that crude inventories remain "very high", Venezuela's government said.

StatoilHydro Makes Gas Find In Norwegian Sea

Τετ, 21 Μαΐου 2008 - 04:32

StatoilHydro Petroleum, operator of production licence 348, said Wednesday it is in the process of completing the drilling of wildcat well 6407/8-4 S. The well proved gas in sandstone from the middle Jurassic.

Gazprom Safe Route To Russian Exposure

Τετ, 21 Μαΐου 2008 - 04:29

Gazprom (GAZP.RS) represents a relatively safe route to gain exposure to Russian energy companies, as much uncertainty surrounds the proposed tax cuts for the oil sector, says UralSib.

Kazakhstan Lowers 08 Oil Output Forecast To 67.6M Tons

Τετ, 21 Μαΐου 2008 - 04:26

The Kazakh government has lowered its forecast for oil and gas condensate production for this year to 67.6 million metric tons, or 1.35 million barrels a day, from 70 million tons, the economy minister said Wednesday, according to Kazakhstan Today news agency.

Kuwait Introduces Oil Deals Tied To Output Targets

Τετ, 21 Μαΐου 2008 - 04:22

State-owned Kuwait Petroleum Corp. is negotiating performance-related contracts with international oil companies as it seeks to boost oil and gas production, the Financial Times newspaper reports Wednesday.

Iran Agrees In Principle To EU Visit On Nuclear Offer-IRNA

Τετ, 21 Μαΐου 2008 - 04:19

Iran said Wednesday it has agreed in principle to a visit by European Union foreign policy chief Javier Solana to deliver a package being drawn up by world powers in a new bid to persuade Tehran to halt controversial nuclear work.

Gaz de France Summoned To Crt By Works Council Secretary

Τετ, 21 Μαΐου 2008 - 04:15

Gaz de France (1020848.FR), which is to merge with French peer Suez (SZE.FR), has been summoned to court by the secretary of its work council in an attempt to prevent the May 26 meeting of the council from taking place, a company spokesman said Wednesday.

EU Reaches Agreement To Open Partnership Talks With Russia

Τετ, 21 Μαΐου 2008 - 04:12

European Union governments Wednesday gave the green light for talks to open on a new partnership accord with Russia, the E.U.'s Slovenian presidency announced.

E.ON Workers Walk Out; Pwr Production Not Seen Hit

Τετ, 21 Μαΐου 2008 - 04:10

Workers at E.ON AG (EOA.XE) walked out for a one-day warning strike Wednesday over a pay dispute, but the company and union executives said the action isn't affecting power production.