Europe

Pipelines, Storage & Power

Italian storage, regasification fees to rise in 2011-2012

Italian gas storage and LNG regasification tariffs will rise in Gas Year 2011-2012 based on higher reference revenues for the upcoming year, incumbent transmission system operator Snam Rete Gas said on Wednesday.

4 August 2011
Policy & Regulation

European Parliament releases study on South Mediterranean energy policy

The European Parliament’s Industry, Technology, Research and Energy Committee (ITRE) released a comprehensive study, EU Energy Strategy in the Southern Mediterranean, in June.

3 August 2011
Supply & Demand

UK power plants mothballed on higher gas prices

Low profit margins for gas-fired power generation in the UK has resulted in 2 GW of plant mothballing this year, UK utility Drax said on Tuesday.

2 August 2011
Companies & Finance

Norway sees higher profits from gas despite lower production

Income from the Norwegian State's Direct Financial Interest in the Norwegian petroleum sector rose by 24% year-on-year to NOK 65 billion ($12 billion) in the first half of 2011, mainly on the back of higher oil and gas prices, Petoro said on Tuesday.

2 August 2011
Policy & Regulation

UK electricity market reform – what does it mean for gas?

Gas will continue to play a central role in UK energy policy but with the introduction of CCS, its longer term future is uncertain.

1 August 2011
Companies & Finance

Eni to sell Brazillian distribution arm for $271 million

Italy’s Eni has agreed to sell its Brazilian gas distribution arm Gas Brasiliano Distribuidora (GBD) to Petrobras Gas for around $271 million, it said on Monday.

1 August 2011
Companies & Finance

Galp sees gas sales rise by 22%

Portugal’s Galp energy saw natural gas sales rise by 22% year-on-year in the first half of 2011 to 2,792 million cubic metres, it said on Friday.

1 August 2011
Companies & Finance

Total sees adjusted net profits drop by 6%

French oil and gas company Total recorded adjusted net profit of €2.8 billion ($4 billion) in the second quarter of 2011, down 6% on the same period last year, it said on Friday.

29 July 2011
Policy & Regulation

Libyan instability continues to affect Eni profits

Italian group Eni’s net profit in the second quarter fell by 31% year-on-year, as the continuing shut-in of its Libyan production hurt earnings.

29 July 2011
Companies & Finance

Repsol sees lower profits on Libya, Argentina unrest

Spanish oil and gas company Repsol recorded current cost of supplies (CCS)* adjusted net income of €1.2 billion ($1.7 billion) in the first quarter of 2011, down 7.3% on the same period the previous year, it said on Thursday.

28 July 2011
Companies & Finance

Shell’s profits soar on back of high oil prices

]Shell’s second quarter profits hit $8 billion, a 77% rise compared to year-ago levels, buoyed by higher oil prices.

28 July 2011
Companies & Finance

Statoil profits up despite output drop

Norwegian group Statoil’s net income more than doubled to 27.1 billion Norwegian kroner ($5 billion) in the second quarter this year on higher oil and gas prices and the sale of a 40% stake in the Peregrino field, offshore Brazil.

28 July 2011
Companies & Finance

Vallares reportedly targets Dana Gas

Dana Gas, an oil and gas company based in the United Arab Emirates, is reportedly a bid target for Vallares, the new investment vehicle created by ex-BP chief executive Tony Hayward.

28 July 2011
Pipelines, Storage & Power

Yamal-Europe gas pipeline to be unbundled by September

The Polish section of the Yamal-Europe pipeline to transport 30 billion cubic metres of natural gas per year from the Western Siberia to Europe, will open for Third-Party Access by September, Jan Chadam, CEO of Gaz-System, told Polish newspaper Rzeczpospolita on 7 July.

27 July 2011
Companies & Finance

Gas Natural Fenosa sees net profit drop

Spanish utility Gas Natural Fenosa recorded net profit of €822 million ($1.2 billion) in the first half of 2011, down 3.6% on the same period last year, it said on Wednesday.

27 July 2011
Pipelines, Storage & Power

Will South Stream exclude third-party access obligations in Bulgaria?

On 14 July, the Bulgarian News Agency reported that Bulgarian Energy Minister Traycho Traykov announced Bulgaria’s exemption from Third Party Access (TPA) for the South Stream and Nabucco gas pipeline projects.

27 July 2011
Companies & Finance

Vattenfall sells Belgian gas operations to Eni

Swedish state-owned utility Vattenfall has sold its Belgian gas operations, through its fully-owned subsidiary Nuon Belgium, to Italian energy company Eni for €157 million ($227.6 million), the companies announced on Wednesday.

27 July 2011
LNG

New EU legislation creates opportunities for cogeneration and gas usage in Europe

On 22 June, the European Commission published the draft of the new Energy Services Directive to be implemented in early 2013.

26 July 2011
Companies & Finance

BG Group reports 27% rise in profits

BG Group reported a 27% increase in profits year-on-year in the second quarter in the wake of rising commodity prices and a 3% boost in production.

26 July 2011
Supply & Demand

Edison sees profits slump on low gas demand

Italian utility Edison recorded a net loss of €62 million ($88.5 million) in the first half (H1) of 2011, compared to net profits of €142 million ($202.7 million) in the first half of 2010, largely caused by relatively low domestic demand for power and natural gas, it said on Monday.

26 July 2011

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