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News

Spain’s Repsol-YPF Earnings Hit by Libyan Civil War

Spain’s Repsol-YPF Earnings Hit by Libyan Civil War

Jul 30, 2011 at 09:03 | Joao Peixe

Repsol-YPF, Spain’s largest oil company, said its second-quarter earnings dropped 7.3 percent after refining margins narrowed and output declined because of the Libyan civil war. Repsol-YPF released a statement noting,…

Bangladesh Awards Gas Compressors Work to Russia’s Gazprom

Bangladesh Awards Gas Compressors Work to Russia’s Gazprom

Jul 30, 2011 at 09:01 | Charles Kennedy

Bangladeshi Prime Minister Sheikh Hasina has approved a proposal of Petrobangla to award the contract for installation of two gas compressors directly to Gazprom despite local firms also bidding on…

Kenya’s Consumers Soon to be Forced to Use Solar Energy

Kenya’s Consumers Soon to be Forced to Use Solar Energy

Jul 28, 2011 at 21:02 | Charles Kennedy

According to Kenya’s Energy Regulatory Commission (ERC), heavy domestic and industrial consumers of electricity will soon be required to use solar energy to heat water. The policy is meant…

EBRD Gives Ukraine Additional $100 Million for Chernobyl Work

EBRD Gives Ukraine Additional $100 Million for Chernobyl Work

Jul 28, 2011 at 21:01 | Charles Kennedy

In an eerie reminder of the ongoing cost of nuclear disasters in the wake on the 11 March Fukushima debacle in Japan, the European Bank for Reconstruction and Development has…

Shell Defends Sale of Nigeria Oil Blocs as Legal

Shell Defends Sale of Nigeria Oil Blocs as Legal

Jul 28, 2011 at 20:23 | Joao Peixe

Shell Petroleum Development Company of Nigeria Ltd (SPDC) has defended its decision to divest itself of some of its equity in oil concessions in Nigeria’s contentious Niger Delta region. SPDC…

Chinese Companies Compete for Power Plant Contracts in Poland

Chinese Companies Compete for Power Plant Contracts in Poland

Jul 28, 2011 at 20:22 | Joao Peixe

As if any proof is need of rising Chinese economic power in Europe, Chinese companies are now bidding for power plant contracts in Poland. During the Cold War and…

IMF Unhappy with Romania's State-Owned Companies Management

IMF Unhappy with Romania's State-Owned Companies Management

Jul 28, 2011 at 20:21 | Charles Kennedy

The sluggish reforms in Romania’s state-owned and run companies have raised tensions with one of the country’s main international financiers, the International Monetary Fund.Following a meeting with a visiting…

Nigeria, Iran Battle for OPEC's No.2 Position

Nigeria, Iran Battle for OPEC's No.2 Position

Jul 27, 2011 at 22:52 | Charles Kennedy

Iran retains its position as the second-largest producer in the Organization of Petroleum Exporting Countries, despite a recent OPEC report that Nigeria moved from the organization’s third to second place,…

Rwanda to Privatize Methane Gas Plant

Rwanda to Privatize Methane Gas Plant

Jul 27, 2011 at 22:51 | Charles Kennedy

Rwanda’s government is negotiating with an Israeli firm to lease its pilot methane plant on Lake Kivu in western Rwanda in an effort to increase the plant's electricity production capacity.…

Colombian Oil Workers Disrupt Production, Army Sent In

Colombian Oil Workers Disrupt Production, Army Sent In

Jul 27, 2011 at 22:48 | Joao Peixe

Striking Colombian oil workers last week disrupted production at Canadian Pacific Rubiales Energy Oil Company’s Campo Rubiales facility. The company estimates that production losses have amounted to 177,000 barrels of…


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