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Companies & Finance

Surgil due to sign off on debt in March

The sponsors and advisers behind the $4.16 billion Surgil gas and petrochemicals project in Uzbekistan plan to sign off on debt commitments at the end of March before reaching financial close in the second quarter, a banking source told Interfax on Wednesday

2 March 2012
Policy & Regulation

Parliament's energy committee backs ETS set-aside mandate

As part of a wider debate on energy saving, the European Parliament's Industry and Energy Committee (ITRE) on Tuesday called for the European Commission to strengthen the EU Emission Trading Scheme (ETS), by setting aside the “necessary” amount of emissions allowances for the next phase of the scheme from 2013 to 2020.

1 March 2012
Policy & Regulation

Gazprom files international arbitration suit against Lithuania

Gazprom has filed for arbitration against the government of Lithuania with the UN Commission on International Trade Law (UNCITRAL) in Vienna, the company said in a statement on Thursday. The company is seeking protection for its investments in the Baltic country due to Lithuania's reorganisation of its gas sector.

1 March 2012
Exploration & Production

UK in second ‘dash for gas’, says new report

The UK is in the midst of a second phase of growth in CCGT plants, with two large projects due online in 2012, and will build a total of 11 GW of new gas plants in 2012-16, according to Bloomberg New Energy Finance.

1 March 2012
Pipelines, Storage & Power

Hungary-Slovakia interconnector on course for EIB funding

The European Investment Bank has begun the formal appraisal process for supplying up to half the finance necessary to develop the Hungary-Slovakia gas interconnector pipeline project.

1 March 2012
Companies & Finance

Endeavour posts net loss of $103.9 million

UK-listed Endeavour International has posted a net loss of $103.9 million for 2011, due to a major impairment of its oil and gas assets in the US, according to a report in UpstreamOnline on Wednesday.

29 February 2012
Exploration & Production

BNK begins drilling Miszewo T-1 in Poland

BNK Petroleum has begun drilling the Miszewo T-1 well on its Trzebielino shale concession block in Poland, the company said in a press release on Wednesday.

29 February 2012
Companies & Finance

Hellenic Republic fund invites buyers for Greek gas assets

Greek state-owned Hellenic Republic Asset Development Fund has officially invited potential buyers to make their offers for the purchase of Greece's gas assets.

29 February 2012
Companies & Finance

Repsol net income falls due to Libya conflict, unrest in Argentina

Repsol has posted 2011 net income of €2.19 billion ($2.9 billion), down by 53.3% from $6.3 billion in 2010, due to the conflict in Libya and events in Argentina.

29 February 2012
Exploration & Production

Centrica’s Morecambe field faces technical problems

Centrica’s South Morecambe field in the East Irish Sea, one of the UK’s most critical fields, has been declared offline for an unknown period of time due to a technical fault.

29 February 2012
EU Energy Policy

Understanding the web of European market legislation

A string of new or revised market abuse regulations affecting energy companies are being launched in the build-up to the European Commission’s vision of an internal energy market by 2014.

29 February 2012
EU Energy Policy

Parliament votes in favour of stricter efficiency targets

The European Parliament’s Committee on Industry, Research and Energy (ITRE) on Tuesday voted in favour of two sets of EU energy legislation with the aim to reduce import dependency and increase security of supply.

28 February 2012
EU Energy Policy

EC ups pressure on member states to comply with third package

The European Commission has given eight member states a deadline of two months to implement Third Energy Package legislation, which became legally binding in March 2011.

28 February 2012
Pipelines, Storage & Power

European summits push Nabucco and South Stream forward

OMV hosted a meeting in Vienna on Tuesday between the Nabucco gas pipeline project consortium partners to discuss a reported merger with the Trans-Anatolian Pipeline (TANAP), while rival project South Stream pushes ahead with development of its Slovenian section following a summit in Ljubljana.

28 February 2012
Policy & Regulation

Industry urges UK to take ‘right steps’ in 2012 budget

One of the UK’s main oil and gas trade associations has urged Chancellor George Osborne to take the “right steps” when he announces the budget on 21 March

28 February 2012
Policy & Regulation

PGNiG could get new national gas tariff by end of March

Polish state-owned gas monopoly PGNiG could have a new domestic tariff in place by the end of March allowing it raise commercial gas prices, sources at the national energy regulatory office (URE) told Interfax on Monday.

28 February 2012
Pipelines, Storage & Power

UK storage levels slide by 50%

Storage levels in the UK have fallen by 50% from the level they were in January, on a combination of colder weather and other pressures on supply-demand.

27 February 2012
Companies & Finance

Eni-Snam separation?

The ownership separation of Italian oil and gas major Eni from its gas transmission network Snam Rete Gas may lead to lower gas bills by creating a more competitive market, Economic Development Minister Corrado Passera told Sky TG24 in an interview, a Bloomberg article said on Sunday.

27 February 2012
Exploration & Production

Tamboran eyes European shale - CEO

Australian-based Tamboran Resources recently announced it has discovered 4.4 trillion cubic feet of shale gas in County Fermanagh in Northern Ireland. CEO Richard Moorman tells Interfax what his plans are, and shares his hopes that this project will be his springboard into Europe.

27 February 2012
EU Energy Policy

Deadlock in fuel quality talks as directive sent back to Council

On 23 February, national experts failed to agree on a proposed directive that classifies fossil fuels for transport according to the levels of pollution they cause. The proposal is now being sent back to the EU Council consisting of member states’ environment ministers.

27 February 2012

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