Oil Rises on U.S.-Iran Tension
Oil prices rose on Monday on worries over supply after tensions worsened between Iran and the United States, while some offshore workers began a 24-hour strike on three oil and gas platforms in the British North Sea.Iranian Supreme Leader Ayatollah Ali Khamenei on Saturday backed a suggestion by President Hassan Rouhani that Iran could block Gulf oil shipments if its exports were stopped.The Iranian leadership was responding to the threat of U.S.
German Minister Welcomes RWE's Stronger Position in Renewables
Germany's acting Finance Minister Peter Altmaier said on Monday that it was fundamentally positive that RWE would become a much stronger player in renewables after a planned carve up of Innogy with rival E.ON. "That is a decision of both involved companies. The companies have recognised that the energy switch (from nuclear power) is pushing ahead," Altmaier told reporters before a meeting of euro zone finance ministers in Brussels.
Greece Gets Two Binding Bids in Gas Grid Sale
Greece has received two binding bids for a 66 percent stake in its gas grid operator DESFA, whose privatisation is a key term of its international bailout, the Greek privatisation agency (HRADF) said on Friday. Bids were submitted by a consortium of Italy's Snam , Spain's Enagas Internacional and Belgium's Fluxys, and a consortium of Spain's Regasificadora del Noroeste (Reganosa), Romania's Transgaz and the European Bank for Reconstruction and Development (EBRD).
Greek Renewable Power Projects Stalled by Turmoil
Ambitious Greek renewable power projects aimed at reducing the country's dependence on energy imports from Russia will be on hold for some time as the threat of exit from the euro prompts investors and financiers to put the breaks on initiatives. Greece has submitted proposals on economic reforms in a last-ditch effort to secure a bailout from international creditors and prevent financial meltdown. Even…
Oil Up on Weak Dollar, Greek Deal Hopes
Dollar drops after U.S. rate rise hopes disappointed; investors eye progress on Greek talks with creditors. Oil prices rose on Thursday as a weaker dollar made fuel cheaper for holders of other currencies, and on hopes of a last-minute breakthrough that could keep Greece in the euro zone and help avoid a shock to European economic growth. The dollar fell 0.5 percent to a one-month low against a basket…
Investment Funds Want Greenhouse Gas Cuts
Fund CEOs managing $12 trillion want Paris climate goal. Some of the world's biggest investment funds urged the Group of Seven industrialised nations on Tuesday to commit to a long-term goal to cut world greenhouse gas emissions as part of a U.N. climate deal due to be agreed in December. Cuts in emissions would give investors more certainty, promote research and development and new technologies, and help create jobs, fund chiefs said.
BOJ: Weak Oil Prices Good for Global Economy
The recent slide in global oil prices is a benefit for the world economy and could lead to some upgrades of economic forecasts, Bank of Japan Governor Haruhiko Kuroda said on Monday. "For the world economy, without a doubt, weaker oil prices are a plus," Kuroda told reporters on the sidelines of the G20 meeting of finance ministers and central bankers in Istanbul. (Reporting by David Dolan
Total CEO Calls for Increased Use of the Euro
French oil giant Total's chief executive officer (CEO) Christophe de Margerie said on Saturday, although they can not do without the dollar, but the euro should play a more important role in international trade. BNP Paribas was after U.S. regulators astronomical fines, some have called on the EU level to find ways to enhance the euro in international trade. Margerie was in answer to questions related to this.
Hints Of Possible Deal On Ukraine Gas Emerge At G20
emerged at a meeting of G20 finance chiefs this week that a deal in which Moscow eases its stance might be in the works. sidelines. for gas and said it awaits $2.2 billion in unpaid bills. Ukraine if payments don't start coming, but between the now-standard lines he signalled some room for maneuver. "We do not want to escalate tensions with Ukraine. journalists when asked about the gas dispute. "But it requires a decision of the Ukrainian authorities, support of the European Union colleagues.
