Latest news
Total posts a 5% drop in Q1 adjusted net income
France’s largest oil company Total has posted a $217 million decline in its first quarter adjusted net income, down 5% compared to the first quarter of 2011, mainly due to flat oil and gas production rates and a drop in European demand for petrochemicals.
read more... 30/04/2012
Bulgaria and Azerbaijan to ink a deal on gas cooperation
Bulgaria’s state energy holding BEH and Azerbaijan’s national gas company SOCAR closed a deal under which Bulgaria could become the first EU member country which will receive gas from Azerbaijan.
read more... 30/04/2012
Turkey to start a controversial oil and gas drilling in north Cyprus
Turkish Petroleum Corporation (TPAO) announced that it launched exploratory drilling for oil and gas on Thursday in the Turkish Republic of Northern Cyprus.
read more... 27/04/2012
Russia approved a 15 percent increase in domestic gas prices
A 15 percent hike in domestic gas prices was approved by the Russian government for Gazprom and its smaller rivals. Following this announcement, Gazprom’s shares lost 0.1 percent by 14:00 GMT, exceeding a 0.7 percent drop in the broader market. Previously in autumn, Gazprom has asked for an additional 26.3 percent increase in gas prices for domestic consumers.
read more... 27/04/2012
Shell to enter East Africa’s huge gas market
A subsidiary of Royal Dutch Shell, Shell Bidco announced its intention to acquire Cove Energy, a Mozambique-focused exploration group, for $1.8bn, as the giant aims to access East Africa’s huge gas reserves.
read more... 26/04/2012