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22.03.2016 16:44

Saudi Arabia Ready to Freeze Oil Output Without Iran

Saudi Arabia is ready to take part in a coordinated oil output freeze in March even if Iran did not take part, a senior Opec delegate said, as reported by FT.com. This makes a deal on capping production among big producers more likely, the

21.03.2016 16:30

French Government Ready to Recapitalise Energy Giant EDF If Needed

The French government stands ready to inject fresh capital into energy giant EDF if necessary, Economy Minister Emmanuel Macron said on Thursday, as quoted AFP. "If there is a need to recapitalise, we will do so," Macron said during a

17.03.2016 11:14

EU Leaders Object to Nord Stream-2 Gas Link

Eight EU governments have signed a letter objecting to the Nord Stream-2 project that would double the amount of gas shipped directly from Russia to Germany, according to a document seen by Reuters. The letter, addressed to European Commission President

16.03.2016 15:45

Russia's Gazprom Signals Possible Gas Payment Default in Bulgaria, Greece, Macedonia, Serbia

Russia's Gazprom has said certain countries in southeast Europe may be at risk of defaulting on their payments for gas supplies. In an upcoming Eurobond prospectus, Gazprom says Bulgaria, Greece, Macedonia and Serbia could all miss payments for

16.03.2016 11:51

Russian Novatek Sells 9.9% Yamal Stake to Silk Road

Russia's biggest independent gas company Novatek has sold 9.9% of the Yamal LNG project to China’s Silk Road Fund (SRF) for EUR 1.087bn, it said March 15, as reported by Natural Gas Europe. Following the deal, Novatek has a 50.1% stake and

15.03.2016 12:12

OPEC Decreased Oil Demand Forecast for 2016

OPEC expects lower demand for its oil in 2016 than it previously forecast. The oil cartel's crude demand forecast was revised down by 100,000 barrels per day for the full-year, slightly lower than its estimate last month, according to a report released

14.03.2016 17:04

Oil Prices Take Downward Course Over Slowing Economic Growth

Oil prices fell on Monday, weighed down by global oversupply and slowing economic growth prospects, although the prospects of falling production lent crude some support. U.S. crude was trading at USD 38.15 per barrel at 0759 GMT, down 35 cents from

11.03.2016 14:34

The U.N. Warns of Possible Catastrophic Failure of Iraq’s Mosul Dam

The largest dam in Iraq is facing an "unprecedented risk of catastrophic failure with little warning," prompting a "chilling" meeting at the United Nations Wednesday morning, CNN reported. The failure of the Mosul Dam, located

11.03.2016 14:27

Japan Marks the Fifts Anniversary of the 2011 Tsunami and Nuclear Disaster

At 2:46 p.m. Friday, millions of people observed a moment of silence across Japan as the country marked the fifth anniversary of the March 2011 quake and tsunami that devastated coastal areas of the Tohoku region, killing at least 19,304 and leaving

11.03.2016 11:06

Ukraine Wants Turkey to Take Part in Coal Mines Privatisation

Kiev says Ankara is considering an offer to buy Ukrainian coal mines as part of the country's plan to privatize state assets this year. During his visit to Ankara, Ukraine's President Petro Poroshenko asked Turkish counterpart Recep Tayyip Erdogan

09.03.2016 14:08

Oil Output in Russia Poised to Decline (Energy Ministry Report)

Oil production in Russia will inevitably decline by 2035 according to an Energy Ministry report seen by the Vedomosti business daily. The different scenarios predict an output drop from 1.2 percent up to 46 percent two decades from now, rt.com reported. The

09.03.2016 11:26

E.ON Loss Casts Doubt over Trading, Generation Spin-Off Uniper

E.ON, Germany's largest utility, posted a record loss for the second year in a row on Wednesday following asset writedowns worth more than half its market value, casting doubt over plans to spin-off its ailing power plants later this year. E.ON,

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