Foreign Firms Scramble to Fix Iran's Refineries Once Sanctions End
International oil services companies are scrambling to win contracts worth tens of billions to repair and modernize Iran's oil refineries once sanctions are removed, with officials even laying on bus tours for visiting foreign executives. Officials from Iran's oil refining company NIORDC, its National Petrochemical Company and the privately owned Persian Oil and…
Foreign Firms Queue to Fix Iran's Refineries
Iran seeks to upgrade derelict refining, petchem sector; Oil services executives visit Iran on tour of sites. International oil services companies are scrambling to win contracts worth tens of billions to repair and modernize Iran's oil refineries once sanctions are removed, with officials even laying on bus tours for visiting foreign executives. Officials from Iran's oil refining company NIORDC…
Germany Denies Report on Coal Plant Agreement
Germany denied on Friday a report saying taxpayers might have to pay the country's utility companies more than 1 billion euros ($1.1 billion) to cover the cost of closing some coal-fired power plants. Weekly magazine Der Spiegel reported that German Economy and Energy Minister Sigmar Gabriel had reached such a deal with Peter Altmaier, Chancellor Angela Merkel's chief of staff, and Michael Vassiliadis, head of the IG BCE coal union.
Russia Denies Report of Gas Deal with Greece
Russia denied on Saturday a German media report suggesting that it could sign a gas pipeline deal with Greece as early as Tuesday which could bring up to five billion euros into Athens' depleted state coffers. German magazine Der Spiegel, citing a senior figure in Greece's ruling Syriza party, said the advance funds could "turn the page" for Athens, which is now struggling to reach a deal with its creditors to unlock new loans to avert bankruptcy.
Greece Gas Deal with Russia Soon
Greece is poised to sign a gas deal with Russia as early as Tuesday which could bring 3-5 billion euros into depleted government coffers, German magazine Der Spiegel reported, citing a senior figure in the ruling Syriza party. During a visit to Moscow earlier this month, Greek Prime Minister Alexis Tsipras expressed interest in participating in a pipeline that would bring Russian gas to Europe via Turkey and Greece.
Germany Reiterates Fracking Ban
Germany said on Monday it has no plans to lift a ban on fracking, following a report in news magazine Der Spiegel that it was considering lowering the hurdles for shale gas extraction to allow test drilling. At present, Germany only plans to allow fracking below a depth of 3,000 metres (yards), to ensure that there is no danger to ground water supplies. Der Spiegel had reported that this depth boundary would be scrapped.
Germany May Reduce Coal-Fired Energy to Protect Climate
Germany is considering removing some of its coal plant capacity as part of a raft of new policies to help Europe's biggest economy meet its greenhouse gas emissions goals, a state secretary at the economy ministry said on Wednesday. Chancellor Angela Merkel's cabinet is to decide on Dec. 3 on a programme that is likely to include steps to boost energy efficiency and possibly reduce coal generation…
German Utilities Want Public Body To Shut Nuclear Plants
German utilities are in talks with the government about handing over responsibility for decommissioning the country's nuclear power plants to a public foundation, two sources familiar with the proposals said on Sunday. This so-called 'bad bank' for nuclear energy would take over Germany's nuclear plants, which the government decided should be all closed by 2022 following the Fukushima disaster in Japan three years ago.
