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OMV: MOL-CEZ Stake Deal Is Abuse Of MOL-Hldrs Funds

VIENNA (Dow Jones)--Austrian oil and gas company OMV AG (OMV.VI) Thursday night said it considers its Hungarian peer MOL Nyrt.'s (MOL.BU) decision to sell a 7% stake in the company to Czech utility CEZ A.S. (BAACEZ.PR) an abuse of shareholder money.

No Solution On Kashagan, Talks To Continue

ALMATY, Kazakhstan (Dow Jones)--Eni SpA-led (E) consortium members developing the giant Kashagan field in Kazakhstan signed an "interim" memorandum Friday but have failed to agree on a final solution to the ongoing dispute, a source familiar with the talks told Dow Jones Newswires.

Enel Chmn Expects Asset Sale To E.ON Concluded By End-1H 2008

Greece's PPC Puts Off Vote On RWE Memorandum Of Understanding

ATHENS (Dow Jones)--The board of directors of dominant Greek electricity company Public Power Corp. SA (PPC.AT) agreed Thursday to put off a decision on a controversial joint venture with Germany's RWE AG (RWE.XE) until its January 2008 meeting.

Dong Energy To Build Bioethanal Demonstration Plant in Sweden

Dong Energy said Thursday that its plans regarding constructing a second-generation bioethanol demonstration plant at Kalundborg are supported by a DKK22.5 million grant from the Government's Programme for Energy research - EFP.

S.E. Europe Spot Power Market to Go Ahead

The Slovenian power exchange Borzen, and the international derivatives exchange Eurex, announced yesterday that they will jointly create a spot power market for the broader south eastern European region named South Pool.

Turkish Parliament Speaker: N Iraq Military Ops May Continue

ANKARA (AP)--Turkey's military may stage more cross-border operations into northern Iraq to hunt down separatist Kurdish rebels, Turkey's parliament speaker said Thursday, as the justice minister again urged the rebels to surrender.

Russia,Kazakhstan,Turkmenistan Ink Caspian Gas Pipe Deal

MOSCOW (AP)--Russia, Kazakhstan and Turkmenistan have signed an agreement to build a natural gas pipeline along the Caspian Sea coast.

EDP Renewables Unit Buys 1,022MW Polish Wind Projs For EUR54M

LONDON (Dow Jones)--Portuguese utility Energias de Portgual Group SA's (EDP.LB) renewables arm Wednesday said it has bought a portfolio of Polish wind farms called Relax Wind Parks for EUR54 million and associated success fees.

France Dismantles Algerian Al-Qaida Support Network

PARIS (AP)--A French intelligence operation has dismantled a logistical support network of the al-Qaida branch that claimed responsibility for a deadly bombing at Algeria's U.N. offices, a news report said Thursday

Russia To Privatize Gas Transportation Co SG-Trans -Newspaper

MOSCOW (Dow Jones)--Russian government plans to privatize the liquified gas transportation company SG-Trans, valued at 14.81 billion rubles ($600 million), the newspaper Vedomosti reported Thursday.

Iranian Nuclear Plant Won't Be Launched Until Fall 08 -Report

Turkey's Yıldız Holding has sold 60 percent of Fon Financial Leasing (FFK) to Kuwaiti-based Global Investment House KSCC (GIH), for $120 million

The holding had also sold 53.56 percent of Tire Kutsan to Austria-based Mondi Packaging for $106 million a while ago.