Sources: Austria's 50-year relationship with Gazprom is ended by the gas seizure
Five sources said that the Austrian group's seizure and payment of Russian gas to cover an arbitration award was what triggered the end of more than 50 years gas flow from Russian state energy company Gazprom to OMV this month. OMV is one of the last remaining gas buyers in Europe, after Gazprom lost most of its European customers in the aftermath of the Russian invasion of Ukraine.
Mozambique's election is likely to be tense, with the ruling party winning.
Mozambique will vote on Wednesday, in a highly charged general election that is likely to result in victory for the ruling Frelimo party, which has governed this Southern African nation since its founding in 1975. Four candidates are in the running to replace President Filipe Nyusi who is leaving office after two terms. Daniel Chapo is the favourite…
India is considering easing export restrictions on non-basmati risotto as supplies improve
A senior government official announced on Wednesday that India was considering loosening restrictions on non-basmati exports. This comes as inventories of the world's largest exporter of rice have soared, and farmers prepare to harvest their new crop within the next few weeks. This move follows Prime Minister Narendra Modi’s government's implementation…
U.S. Drillers Add Rigs for first Week in Eight
U.S. energy firms added rigs for the first time in eight weeks even as producers follow through on plans to reduce spending on new drilling.Companies added 4 oil rigs in the week to Dec. 13, bringing the total count to 667, energy services firm Baker Hughes Co said in its closely followed report on Friday.In the same week a year ago, there were…
Drilling Ban Proposals Divide Democrats
In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way to thousands of oil rigs.The Democrats who control the state's government have lofty plans for the billions of dollars in projected tax revenues from the drilling industry in the Permian Basin…
Brazil's Deputy Mines and Energy Secretary to Resign
Brazil's deputy mines and energy minister Paulo Pedrosa has decided to step down from his post, a source familiar with the decision told Reuters on Friday. The move follows the resignation of his boss, Fernando Coelho Filho, one of a dozen cabinet ministers who are leaving the government to run in the October general election. Reporting by Rodrigo Viga and Luciano Costa Writing by Ana Mano
Petronas Raises Government Payout as Profit Surges
Malaysia's state-owned energy firm Petroliam Nasional Bhd on Friday raised its dividend payment commitment to the government after reporting that second-quarter profit quadrupled because of higher oil prices and improved margins. But Petronas, as the company is known, maintained a cautious outlook, saying its overall year-end performance is expected to be "fair" as oil price volatility continues.
Oil Falls Again on Supplies Worries
Oil fell for a second day on Thursday to hit one-month lows after an unexpected surge in U.S. inventories and the return of more Nigerian crude aggravated investor concerns about an already oversupplied market. The oil price has slipped below $50 a barrel despite a pledge by the world's largest exporters to extend an existing output cut of 1.8…
Zambia's 2016 Investment Pledges up Marginally to $3.4 bln
Zambia recorded $3.4 billion in investment pledges in different sectors of the economy in 2016, representing a 0.7 percent increase from the previous year, the investment promotion agency said on Wednesday. The energy sector registered the highest amount of pledged investment, followed by manufacturing and agriculture, the Zambia Development Agency said in a statement.
Norway Replaces Oil, Justice, EU Ministers Ahead of Election Year
Norway's right-wing government replaced cabinet ministers for oil and energy, European Union affairs and justice on Tuesday in a reshuffle nine months before the next general election. Oil Minister Tord Lien will leave in favour of Terje Soeviknes, a popular small-town mayor, while Justice Minister Anders Anundsen was replaced by Per-Willy Amundsen…
Australia's LNG Sector Must Tackle its Enemies
It should be a golden age for Australia's liquefied natural gas (LNG) producers as they sit on the cusp of becoming the world's largest supplier of the fuel that holds the largest growth potential among its fossil rivals. But instead of taking a moment to reflect on its achievements, industry leaders used their annual conference to both lament and lambaste what they believe are unfair attacks on LNG from a variety of sources.
Goldman Sachs Mulls Redexis Sale
Goldman Sachs' infrastructure fund GSIP is mulling the sale of all or part of its Spanish energy business Redexis in the second half of the year, five sources familiar with the matter told Reuters. GSIP is currently seeking banking and legal advisers for the deal which could be made through a tender process or an initial public offering (IPO), the sources also said.
El Nino's End Offers Hope for Distillates: Kemp
Britain's Labour Party adopted the song "Things can only get better" as its campaign anthem for the 1997 general election, expressing the party's ambitions for governing after 18 years in the wilderness of opposition. Global oil refiners struggling with enormous stocks of distillate fuel oil as a result of a warm winter and the slowdown in world…
IPO Proposed for Norway's Statkraft
Norway should partially privatise state-owned power producer Statkraft and list it on the stock market, a key member of the country's ruling Conservative Party proposed on Tuesday. An initial public offering would attract cash for additional foreign expansion and allow the company to fulfil its growth ambitions, Nikolai Astrup, who leads the party's policy work ahead of a 2017 general election, told NRK public radio.
Pakistan Seeks Another LNG Import Terminal
Government aims for second terminal startup by mid-2017. Pakistan has launched a tender for a second liquefied natural gas (LNG) import terminal, a government official said on Tuesday. The nation of 190 million people can only supply about two-thirds of its gas needs. The ruling party, which campaigned on promises of solving the energy crisis, wants to ease shortages by expanding LNG shipments before a 2018 general election.
Low Prices Could Trigger Norway Lofoten Exploration
The low price of crude could make it more likely that oil firms will be allowed to explore in Norway's Lofoten region after 2017, which is currently off-limits due to environmental concerns, the country's energy minister said on Thursday. "The resources offshore Lofoten and Vesteraalen must at some point come into play, and it is clear that this…
Clinton Waivers on Past Pro-Coal Positions
In her 2008 bid for the White House, Hillary Clinton cast herself as a blue-collar Democrat who was unabashedly pro-coal, a stance that helped her beat opponent Barack Obama easily in primaries in states that produced or were reliant on coal. Eight years later, a Reuters review of her recent campaign speeches and policy announcements shows that…
Trudeau Promises to Improve Canada-U.S. Ties
If Canada's Liberal Party wins the October general election it will create a special cabinet committee to oversee and manage damaged relations with the United States, Liberal leader Justin Trudeau said on Monday. Trudeau, whose Liberals are in third place in most opinion polls, blamed Conservative Prime Minister Stephen Harper for souring ties with Barack Obama by lecturing the U.S.
UK Pressure Forces Russian's North Sea Asset Sale
Mikhail Fridman's LetterOne fund offers 11 gas fields. Mikhail Fridman's LetterOne fund is set to formally launch the sale of North Sea gas fields it had acquired from RWE, bowing to British threats to revoke the assets' licences unless the Russian tycoon relinquishes ownership. The move signals that the Russian billionaire has decided against…
EU: UK Air Quality Plan Due by Year's End
The British government must submit new plans to the European Commission by Dec. 31 to tackle the harmful air pollutant nitrogen dioxide, the UK Supreme Court ruled on Wednesday. Environmental law firm ClientEarth brought the case against the government after Britain breached the EU's Air Quality Directive, which puts limits on harmful air pollutants.
