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RWE to Become Sixth Partner in Nabucco Gas Pipeline Project

RWE AG, Germany’s second-largest utility, plans to join the –5 billion Nabucco pipeline project that’s seeking to export natural gas from the Caspian Sea and blunt Russia’s influence in Europe.

StatoilHydro Completes 6407/6-6 Drilling, Proves Wet Gas

The Norwegian Petroleum Directorate said Thursday StatoilHydro, operator of production licence 312, has completed the drilling of wildcat well 6407/6-6 in the Norwegian Sea.

Putin In Line To Be Gazprom Chairman

Vladimir Putin is in line to be the new chairman of Russia's state-owned gas giant OAO Gazprom (GAZP.RS), The Daily Telegraph reports Thursday.

OPEC Senior Delegate: Seeking At Least 500,000 B/D Cut In March

Some countries within OPEC are seeking a production cut of at least 500,000 barrels of oil a day at the group's March meeting, according to a senior OPEC delegate, as it seeks to buoy up prices amid a potential slump in demand.

Iraqi Oil Min: No Need For OPEC To Increase Oil Production

Iraq's Oil Minister Hussein al-Shahristani said Thursday he saw "no need" for the Organization of Petroleum Exporting Countries to increase production, pointing to the latest information which showed there was no shortage of oil supplies.

OPEC Powerless To Influence Global Turmoil

OPEC has done what it can to help the global economy and is powerless to influence the turmoil in global financial markets, the group's president said Thursday, putting the possibility of a recession in the U.S. at 40%.

BP Announces Major Gas Discovery Offshore Egypt's Nile

BP PLC said Thursday it made a large natural gas discovery offshore Egypt in the Nile Delta, the third deep gas discovery in the area.

E.ON UK Says No Current Plans To Raise Gas, Pwr Prices

E.ON U.K., a subsidiary of Germany's E.ON AG (EOA.XE), said Thursday it has no current plans to raise its retail gas and electricity prices.

France's Areva Submits Bid To Build 2 EPRs To South Africa

Areva (CEI.FR), the French nuclear giant, Thursday said it has submitted a bid to the Republic of South Africa to build two third generation nuclear reactors, or EPRs.

Terna CEO: 07 Div To Top 4% Growth On Yr; No Special Div

Terna SpA (TRN.MI), Italy's biggest power grid company by capacity, plans to boost its 2007 dividend by more than 4% from the previous year, said Chief Executive Flavio Cattaneo Thursday.

Iraq's Turkmen Of Kirkuk Appeal For Govt Protection

Turkmen of Kirkuk, Iraq's northern oil hub which is riven with ethnic tension, called Thursday for the government to protect them and indirectly threatened to create their own militia.

Czech Pres Calls EU Climate Measures "Tragic Mistake"

Right-wing Czech President Vaclav Klaus slammed the European Union's sweeping new measures to fight climate change as a "tragic mistake" in an interview with a German newspaper on Thursday.

PM Zubkov Might Be Nominated To Be Gazprom Chmn - Interfax