English Edition

Kazakhstan To Review Investors' Contracts This Year

Πεμ, 14 Φεβρουαρίου 2008 - 03:05

Resource-rich Kazakhstan will this year retake control of all natural resources where investors are found in breach of their obligations, Kazakh Prime Minister Karim Masimov said Thursday.

Study Finds Profit In Cutting Greenhouse Gas Emissions

Πεμ, 14 Φεβρουαρίου 2008 - 03:03

Half the cuts in greenhouse gas emissions needed to make the world safe can be achieved at a net profit to the global economy, according to a report from consultancy McKinsey, The Financial Times says.

CEZ Reiterates Goal To Exand Into Gas-Fired Power Generation

Πεμ, 14 Φεβρουαρίου 2008 - 03:02

CEZ AS (BAACEZ.PR), a Czech-based power company with operations across central and eastern Europe, aims to aggressively expand into natural gas fueled electricity production, the company's spokeswoman said Thursday.

Turkey's Petkim 2007 Net Profit Up 27% At TRY73.9 Mln

Πεμ, 14 Φεβρουαρίου 2008 - 03:00

Turkish petrochemicals company Petkim Petrokimya Holding's (PETKM.IS) net profit rose 27% on the year to 73.9 million new Turkish lira ($61.7 million) in 2007 from TRY58 million in 2006, the official Web site of the Istanbul Stock Exchange or IMKB showed Thursday, Ihlas news agency reported.

Russia's UES May Postpone TGK-11 Sale

Πεμ, 14 Φεβρουαρίου 2008 - 02:59

Former electricity monopoly RAO Unified Energy System of Russia (EESR.RS) may postpone the sale of a 28.9% state-owned stake in territorial generation company TGK-11 (TGKK.RS) following potential investors' request, the newspaper Vedomosti reported Thursday.

ACS Could Sell Fenosa Stake To EdF, Target Iberdrola

Πεμ, 14 Φεβρουαρίου 2008 - 02:57

Actividades de Construccion y Servicios SA (ACS.MC), or ACS, could sell its 45.3% stake in Union Fenosa SA (UNF.MC) to French utility Electricite de France SA (1024251.FR) as part of its effort to gain control of Iberdrola SA (IBE.MC), Spanish daily ABC reports Thursday, citing people with knowledge of the transaction.

StatoilHydro Joins EGL in Trans Adriatic Pipeline Gas Project

Πεμ, 14 Φεβρουαρίου 2008 - 01:29

StatoilHydro ASA and Swiss EGL Group singed yesterday in Zurich an agreement to establish an equally-owned joint venture to develop, build and operate the Trans Adriatic Pipeline (TAP). The pipeline will open a new corridor and market outlet for natural gas from the Caspian Sea and Middle East regions into Europe.

Gov’t to hit fuel rackets

Πεμ, 14 Φεβρουαρίου 2008 - 00:49

The Finance Ministry and its special inspections service are preparing to come down hard on the rackets profiteering from the illegal trade in fuels, sources say.

Turkey, Switzerland Considering Building Gas Pipeline

Τετ, 13 Φεβρουαρίου 2008 - 05:30

Turkish Energy Minister Hilmi Guler said Wednesday his government and Switzerland are considering building a new trans-Adriatic natural gas pipeline, which will run through the Balkans, Albania and Italy, the Ihlas News Agency reported

Gazprom Doubles Beltransgaz Stake To 25% - Interfax

Τετ, 13 Φεβρουαρίου 2008 - 05:28

Russian gas monopoly OAO Gazprom (GAZP.RS) Wednesday said it had raised its stake in Belarussian pipeline operator Beltransgaz to 25% from 12.5%, the Intefax news agency reported.

Kazakhstan January Oil Production Up 5.4% On Year

Τετ, 13 Φεβρουαρίου 2008 - 05:26

Kazakhstan produced 4.9 million metric tons of oil in January, a year-on-year rise of 5.4%, Interfax news agency reported Wednesday, citing the country's statistics agency.

MOL Says It Bought 53,031 Treasury Shrs On Bourse Tuesday

Τετ, 13 Φεβρουαρίου 2008 - 03:42

Hungarian oil and gas company MOL Magyar Olaj- es Gazipari Nyrt. (MOL.BU) said Wednesday that it purchased 53,031 shares of its registered equity on the Budapest Stock Exchange Tuesday

Gulfsands Petroleum Starts Drilling At Khurbet East

Τετ, 13 Φεβρουαρίου 2008 - 03:40

Gulfsands Petroleum, an oil and gas production, exploration and development company with activities in Syria, Iraq, and the U.S. Wednesday announced that it has commenced the drilling of its first development well within the Khurbet East Field (KHE-4) following the recent approval by the Syrian Government for the development of the Khurbet East Field.

Russia's UES To Hold Board Meeting Feb 29

Τετ, 13 Φεβρουαρίου 2008 - 03:38

Former electricity monopoly RAO Unified Energy System, or UES, (EESR.RS) will hold a board meeting Feb. 29, the company said in a statement Wednesday.

Unipetrol Wants 20% Gasoline Station Mkt Share

Τετ, 13 Φεβρουαρίου 2008 - 03:35

Czech petrochemical company Unipetrol AS (BAAUNIPE.PR) reiterated its goal of acquiring smaller Czech gasoline station operators to reach 20% market share by 2010, the company's chief executive said Tuesday.

Timan Oil & Gas: Appeals Filed In Russia Over Licenses

Τετ, 13 Φεβρουαρίου 2008 - 03:33

Timan Oil & Gas said Wednesday that as a result of a publication on the website of the Moscow Ninth Appellate Arbitration Court, the Company has recently become aware of two appeals, filed by the Russian Federal Subsoil Agency (Rosnedra) on Dec. 27 2007.