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Romania Lawmakers OK Draft Law Annulling Petrom Sale-Mediafax

Romania Lawmakers OK Draft Law Annulling Petrom Sale-Mediafax

BUCHAREST (Dow Jones)--Romania's senate, the upper house of the country's parliament, tacitly cleared Monday a draft law filed by a far-right party, which annuls the sale of Romania's largest oil company Petrom (SNP.RO) to Austria's OMV AG (OMV.VI), news agency Mediafax reported Wednesday

AT A GLANCE: OPEC Delegates Lean Towards No Change In Output

AT A GLANCE: OPEC Delegates Lean Towards No Change In Output

Two senior OPEC delegates said they see the group holding current output policy unchanged at its last meeting of the year in Abu Dhabi Wednesday, opting instead to meet again in January to review market conditions. Any decision still needs to be ratified by the full OPEC group and is subject to change.

Russia-China Phase 1 Crude Pipeline Cost $12B

Russia-China Phase 1 Crude Pipeline Cost $12B

BEIJING (Dow Jones)--The first phase of a pipeline that will bring crude oil from Russia to China has risen to $12 billion due to the weakening U.S. dollar against major currencies, a Russian government official said Wednesday.

Biomass Power Generation Begins To Spark

Biomass Power Generation Begins To Spark

BEIJING (Dow Jones)--China has been promoting biomass as a fuel since the 1950s, but only now is the country starting to harness the potential of burning tree branches and crop stalks to generate large volumes of electricity.

EC Says Significant Support for Umboudling is Building Among Ministers

EC Says Significant Support for Umboudling is Building Among Ministers

BRUSSELS (Dow Jones)--A significant number of European Union energy ministers favor an energy package that would break up the bloc's largest utilities by separating their energy transmission from their generation assets, the European Commission said Monday, citing the E.U. Presidency's progress report.

UK Regulator Boosts Returns For Gas Distributors

UK Regulator Boosts Returns For Gas Distributors

LONDON (Dow Jones)--U.K. gas and electricity markets regulator Ofgem Monday increased the rate of return companies can recoup when they invest in their networks to 4.94% of capital invested for the period April 1, 2008 to March 31, 2013.