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Sinopec Signs Deal To Develop Iran's Yadavaran Field

SHANGHAI (AP)--China's biggest refiner, Sinopec, and Iran have signed a US$2 billion agreement on developing the Yadavaran oil field, reports said Monday, firming Beijing's business links with Tehran despite U.S. calls for sanctions over Iran's nuclear program.

EU Clears 32.6M CO2 allowances For Slovakia 2008-12 CO2 Plan

BRUSSELS (Dow Jones)--The European Commission Friday ruled Slovakia's carbon dioxide national allocation for the period 2008-12 should be granted an extra 1.7 million allowances, boosting Slovakia's total allocation to 32.6 million allowances for the period

EU Says Ukraine Gas Pipeline Blast Won't Affect EU Supply

MARKET TALK:OPEC Likely Already Pumping More Oil From Mideast

Tanker rates may rise on congestion

The cost of hiring 1 million-barrel tankers to collect crude oil from Black Sea ports may snap a two- day drop because of congestion in Turkey's Bosporus Straits.

Injaz expects to close Petkim deal next month

Injaz Projects Company Ltd., the Saudi Arabia-based developer that's part of a group buying chemical maker Petkim from Turkey's government for $2.04 billion, said it expects to close the deal next month.

Iran, US Jockey For Position After Nuclear Report

A new U.S. intelligence report playing down Iran's nuclear threat has set off a round of jockeying between Tehran and Washington for control of the diplomatic debate. Iranian officials are seizing on Washington's surprising new National Intelligence Estimate as vindication of its position that it's only seeking peaceful nuclear power.

Powernext OKs German, French Spot Pwr Merger With EEX

BRUSSELS (Dow Jones)-- French power and carbon dioxide exchange Powernext Thursday approved an equal merger with German energy exchange European Energy Exchange AG (P1EA.XE) to create a single company to provide German and French spot electricity trading services, Powernext said Friday.

Edison Sells 7 Thermoelectric Plants To Cofathec For EUR226M

ROME (Dow Jones)--Edison SpA (EDN.MI) said Thursday it has sold seven thermoelectric power plants to Cofathec, owned by Gaz de France (120848.FR), for EUR226 million.

Gazprom Says Won't Revise Belarus Pricing Plan

MOSCOW (Dow Jones)--Russia's natural gas monopoly OAO Gazprom (GAZP.RS) doesn't plan to revise its pricing plans for gas supplies to Belarus, a Gazprom spokesman told the Prime-Tass news agency Thursday.

Kazakhstan Seeks Compensation Or Raised Kashagan Share

ASTANA, Kazakhstan (Dow Jones)--Kazakh President Nursultan Nazarbayev Friday said his country wants compensation or an increased stake in the Eni SpA-led (E) consortium that is developing the giant Kashagan oil field, as a way to resolve the dispute over rising costs and delays in production

StatoilHydro:Snoehvit LNG Expected To Resume Output In 1H Jan

OSLO (Dow Jones)--StatoilHydro ASA (STO) said Friday in its forecast for 2008 that production at its Snoehvit onshore plant at Hammerfest won't produce any more liquefied natural gas until the first half of January due to a sea-water leakage in a heat exchanger.

Kazakh President: Changing Kashagan Operator Not On Agenda

Nazarbayev: ENI to Keep its Job as OKIOC Operator