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MOL Transfers Treasury Shares To Oman Oil Company

Hungarian oil and gas company MOL Nyrt. (MOL.BU) said Wednesday that, as part of the strategic alliance with Oman Oil Company S.A.O.C announced March 10, MOL transferred 8,774,040 pieces of A" series MOL shares to Oman Oil Budapest Limited, a subsidiary of Oman Oil Company S.A.O.C on March 12.

Turkey's Tupras To Invest $1.6 Bln In Fuel Project

EU To Get List Of Distrigaz Bidders Before Month End

Suez SA (SZE) and Gaz de France (1020848.FR), two French power companies in the process of merging, are planning to submit the list of bidders of Belgian gas operator Distrigaz to the European Commission before the end of the month, La Tribune reported.

Malaysia's Biodiesel Exports To EU Hampered By High Costs

Malaysia's biodiesel exports to the European Union nearly doubled to 24,696 metric tons in 2007 from 12,598 tons a year earlier, but absolute numbers continued to remain low due to high prices of the feedstock crude palm oil, said a government official.

Greece’s Power Deficit

Greece’s electric power grid seemed to be flirting with a general blackout last week, as over a third of productive capacity went out of action as a result of the strike at the Public Power Corporation (PPC).

Terna 07 Net Pft +6.4% To EUR413.9M; Div At EUR0.151

Terna SpA (TRN.MI), Italy's biggest power grid by capacity, said Tuesday that net profit in 2007 rose 6.4% on the year, better than expected, thanks to efficiency measures and cost cutting.

Russian Min To Visit Mideast To Stem Degrading Conditions

Russia's foreign minister will head to the Middle East next week to help stem growing violence in the region and "degrading conditions" between Israel and the Palestinians, a Foreign Ministry official said Tuesday.

Hungary To Transform Power Wholesaler For Lower Prices, Sale

Hungarian Prime Minister Ferenc Gyurcsany Tuesday ordered Finance Minister Janos Veres to transform state-owned power wholesaler Magyar Villamos Muvek Zrt. to prepare it for privatization and eventually lower electricity prices, a government spokesman said.

Endesa, Open Auction Possible If No Price Agreed On E.ON Deal

Endesa SA (ELE.MC) may start an open auction for a large portfolio of European assets if it doesn't reach an agreement with Germany's E.ON AG (EOA.XE) over its final price, a top official of the Spanish power company said Tuesday.

Chayanda Gas Field May Be Transferred To Gazprom

The Russian government is considering transferring the rights to the Far Eastern Chayanda gas field to OAO Gazprom (GAZP.RS), the Interfax news agency said Tuesday, citing Vitaly Karaganov, a deputy departmental head at the Energy Ministry.

Greek Power Company, Union Reach Deal To Boost Supply

Management and workers at Greece's dominant electric company, Public Power Corp. SA (PPC.AT), reached a deal Tuesday to resume operations at two of 16 power plants shut by recent strike action.

Gazprom To Buy Central Asian Gas At European Prices From 2009

Russia's state-controlled gas monopoly OAO Gazprom (GAZP.RS) Tuesday said it would buy gas from Kazahstan, Uzbekistan and Turkmenistan at European prices from 2009.

Price Relief Unlikely Amid Varied Demand Trends-IEA

The International Energy Agency on Tuesday said high, $100 a barrel crude prices continue to chip away at oil consumption in the U.S. and other industrialized nations, but warned that there is unlikely to be much relief from current prices because of brisk demand in China and other emerging markets.