Russian Billionaire Nears Deal for E.ON's North Sea Assets

Russian billionaire Mikhail Fridman's LetterOne fund has emerged as the front runner for the acquisition of German utility E.ON's Norwegian North Sea assets, three

Nigeria Arrests Oil Tycoon

Nigeria has arrested the chairman of a local oil firm, a security official said on Tuesday, as part of a widening graft investigation in Africa's biggest petroleum

Citi Accelerates Pullback From Exposure to Coal Mining

Citigroup has joined the retreat by investors and lenders in the coal sector by further tightening its policy on its credit exposure to coal miners. A spokesman for Citi confirmed the U.

Pluspetrol, Partners Offer 3 Natural Gasoline Cargoes

Argentina's oil firm Pluspetrol and partners in Peru have launched a tender to sell three 300,000 barrel cargoes of natural gasoline for delivery from Oct. 14 to Nov.

Oil Hits Month-High; Saudi-Russia Talks

Crude prices hit one-month highs on Tuesday after a new U.S. forecast showed tighter oil supplies next year, while and Russia, Saudi Arabia and other big producers

Areva, EDF to Keep 66 pct of Nuclear Reactor Firm

The French government wants utility EDF and nuclear group Areva, both state-owned, to keep a combined 66 percent stake in Areva's former reactor building arm Areva NP,

U.S. EIA Sees Tighter 2016 Oil Market as Demand Accelerates

Global oil demand will grow by the most in six years in 2016 while non-OPEC supply stalls, according to a monthly U.S. energy report that suggests a surplus of

Morocco to Shortlist 3 Companies for LNG Imports Deal

Morocco expects to shortlist three companies for its new long-term contracts to import liquefied natural gas (LNG) within the next two weeks, its energy minister said on Tuesday.

Oil Edges Above $50 on Speculation

Reuters - Oil prices rose on Tuesday, heading for the first three-day gain in five weeks, on signals that the world's biggest producers of crude may act jointly to support prices,

OMV CEO: Job Cut Not Currently on Agenda

Austrian oil and gas group OMV is not currently planning a 20 percent workforce cut, Chief Executive Rainer Seele told Reuters on Tuesday. "We are not discussing

Egypt Plans New Mediterranean Gas Exploration

Egypt is preparing to launch a new bidding round for gas exploration off the Mediterranean coast in the first half of 2016, Khaled Abdel Badie, the head of the

Croatia's LNG Hrvatska Extends Bid Deadline for LNG Terminal

Croatian liquefied natural gas (LNG) terminal developer LNG Hrvatska has extended a deadline for investors to express interest in building a terminal in the northern Adriatic to Dec.

U.S. Shale Oil Needs $80 to Grow

U.S. oil production growth will stop this month and begin to decline early next year due to low oil prices, the former head of oil firm EOG Resources, Mark Papa, said on Tuesday.

Russia's Gazprom to Halve TurkStream Pipeline Capacity

Gazprom has almost halved the planned capacity of its TurkStream gas pipeline project to 32 billion cubic metres (bcm) per year from an original capacity of 63 bcm,

Total's CEO: Opportunities in Low Oil Price Environment

The current low oil price environment is an opportunity for oil and gas major Total to realign its costs, drive efficiency in upstream operations and rediscuss tax issues with host producing nations,

Citigroup to Cut Coal Financing

Press release - Citigroup has released a new policy to cut its lending to the global coal mining industry. The bank updated its environmental and social policy framework,

Crude Up Over 2 pct, Russia Mulls Oil Talks

Crude oil prices settled up more than 2 percent on Monday, bolstered by a rally in U.S. gasoline and Russia's willingness to meet other major oil producers to discuss the market.

Canadian Oil Sands Set to Reject Suncor Takeover Bid

Canadian Oil Sands is set to reject a hostile takeover bid from rival Suncor Energy, according to a source who is familiar with the situation. The source, who

Canada's Alberta to Introduce Provincial Budget

Canada's oil-producing province of Alberta, which has been hammered by falling crude prices, will table its next budget on Oct. 27, Alberta Finance Minister Joe Ceci said on Monday.

Zambia's Zesco Aims to Double Electricity Cost

Zambia's state power utility Zesco Ltd has applied to the regulator to allow it to more than double the cost of electricity for all customers except mining firms

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