Energy

Italy Approves Sale of Energy Grid Stake

Italy's state holding company Cassa Depositi e Prestiti (CDP) said on Wednesday its board had approved the sale of a 35 percent stake in its energy grid holding

Vallourec Repeats 2014 Warning as Q2 Profits Rise

Steel pipes maker Vallourec turned in a second quarter net profit rise of 41.9 percent to 88 million euros ($117.67 million) on Wednesday and repeated its recent

Armed Men Blow Up Yemen's Oil Pipeline

Armed men blew up Yemen's main oil export pipeline on Wednesday, a local official said, halting crude flows and disrupting an important source of revenue for the impoverished state.

Mobil Nigeria More Than Doubles H1 Pretax Profit

Fuel marketer Mobil Nigeria , a local unit of ExxonMobil said on Wednesday its half year to June pre-tax profit more than doubled to 6.15 billion naira ($38.01 million), compared with 2.

Russian Officials at Odds over Mechel Bailout

The head of Russia's state development bank has ruled out taking part in a rescue of ailing miner Mechel, possibly making a rival government-promoted debt-for-equity

Rio Tinto Pulls Plug on Mozambique Coal Venture

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending

Iraqi Kurdish Pipeline Stopped; Tanker in Limbo off Texas

Iraqi Kurdistan's attempts to export oil independently of Baghdad hit another obstacle on Wednesday, as a Turkish energy official and industry sources said the

US Restricts Travel by Venezuelan Officials

The United States imposed travel restrictions on Wednesday on some Venezuelan government officials it accuses of rights abuses in a crackdown on protests against President Nicolas Maduro this year.

Enel Green Power Mulling Sale of EGP France Business

Italy's biggest renewable company Enel Green Power is mulling the sale of all of its EGP France business because of a lack of critical mass in France, the company said in a slide.

MOL Ship Management Earns Energy/Enviromental Certifications

First company to receive ISO50001 certification from Nihon Kaiji Kyokai.   MOL Ship Management Co., Ltd. (MOLSHIP), a core ship management company in the corporate group headed by Mitsui O.

Lloyd's Register Energy Appoints Basset

Lloyd's Register Energy appoints Mark Bassett to strengthen safety capability for global nuclear industry.   Nuclear role supports organization’s global nuclear

CME to Buy GFI Group for Energy and FX Units

CME Group Inc, the world's largest futures exchange operator, said on Wednesday it would buy derivatives broker GFI Group Inc to expand its reach in the European

Total E&P is First to Use FROG-XT4

Total E&P is the first to use Reflex Marine’s newly developed FROG-XT4 on the Odudu field in Nigeria. The French operator purchased the crew transfer device

Russia Prepares to Privatize Rosneft, VTB

Russia has not ditched plans to privatize its top oil producer Rosneft and VTB bank even if they have been sanctioned by the United States, Interfax news agency

Nigerian Naira Flat vs Dollar on Oil Firms' Sales

The Nigerian naira closed unchanged against the dollar on the interbank market on Wednesday, after two days public holiday to mark a Muslim festival, supported

US Crude Inventories Fell More Than Forecast

U.S. crude stocks fell more than forecast last week, while gasoline stocks increased and distillate inventories rose less than expected, data from the Energy Information

Hellenic Petroleum Posts Larger-than-expected Q2 Loss

Greece's biggest oil refiner Hellenic Petroleum reported a larger-than-expected second quarter loss on Wednesday, hurt by weak margins and volatility in crude oil markets.

Russia Says Sanctions Will Increase Europe Energy Prices

Russia's Foreign Ministry said on Wednesday that sanctions imposed by the European Union over the crisis in Ukraine will "inevitably" lead to higher energy prices in Europe.

Novatek Assessing Sanctions Effect on Joint Projects

Russia's second largest natural gas producer Novatek said on Wednesday it was assessing the impact of U.S. sanctions on the financing of joint investment projects.

Oil Below $108 as Supplies Balance Geopolitical Risk

Brent crude oil steadied below $108 a barrel on Wednesday, weakened by ample supplies but supported by worries over geopolitical risks. While there has been

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