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Hungarian Ethanol Firm Says it Tipped E.U. to Platts Pricing
(Friday, May 17, 2013) A Hungarian ethanol producer said it alerted the European Commission over the role of price agency Platts in setting prices, feeding into an investigation of three major oil companies.
Estonian PM: Deadlock on LNG Terminal Site Endangers Gas Supply
(Friday, May 17, 2013) Estonia is beginning to worry that it might wind up without a supply of natural gas, either the pipeline version or LNG, if a deadlock over selection of the site for a planned LNG gasification plant continues.
EDITORIAL: Cyprus Needs a Concrete, Comprehensive LNG Proposal
(Friday, May 17, 2013) On the surface Cyprus President Anastasiades' visit to Israel was a success.
Supplier: Europe Will Continue to Be Net Importer of Jet Fuel
(Friday, May 17, 2013) Pressure on European production from "super" refineries in the Middle East and Asia will see more jet kerosene shipped to Europe instead of being produced locally, a supplier said May 9.
OPINION: How to Manipulate Oil Price Assessments
(Thursday, May 16, 2013) The vulnerability of physical crude price assessments to manipulation is an open secret within the oil industry. The surprise, perhaps, is that it took regulators so long to open a formal probe.
E.U. Oil Price Probe Puts Platts in Spotlight
(Thursday, May 16, 2013) A European investigation into alleged price rigging by major oil companies has drawn attention to leading price agency Platts and the way it sets oil price benchmarks.
Interfax: Gunvor Paid $158MM for Two Petroplus Refineries
(Thursday, May 16, 2013) Gunvor shelled out $158 million for two oil refineries with capacity of 10 million tonnes a year that were on the verge of bankruptcy from Swiss company Petroplus, according to a Gunvor prospectus that has been made available to Interfax.
Gazprom May Offer Foreign Partners Up to 50% in Vladivostok LNG
(Thursday, May 16, 2013) OJSC Gazprom may offer its foreign partners a stake of up to 50% in the project for the building of an LNG liquefaction terminal in Russia's Far East.
European Authorities Raid Offices in Oil Pricing Probe
(Wednesday, May 15, 2013) European authorities have raided offices of oil giants BP, Shell and Statoil in a major cross-border investigation into suspected manipulation of oil prices.
ENI Unit Versalis Eyes Gas Imports from US
(Wednesday, May 15, 2013) The chemicals business of ENI has outlined a major transformation program that aims to shift the company's portfolio from domination by commodities toward differentiated and green chemicals, internationalize the business, and make it profitable.
Putin: Russia Should Become Leader in Using Natural Gas-Based Motor Fuel
(Wednesday, May 15, 2013) Russian President Vladimir Putin has called for establishing privileges and preferences for individuals and organizations that switch over to natural gas-based motor fuel.
IEA Sees Jump of 3.6M B/D in Global Refinery Runs from April to August
(Tuesday, May 14, 2013) The oil market is undergoing a positive "supply shock" as production in North America continues to grow at a record pace and refining capacity is expected to outpace demand in high-growth emerging markets, IEA said Tuesday.
Trans Adriatic Pipeline Sees Shorter Route As Key Competitive Advantage
(Tuesday, May 14, 2013) A major advantage of the TAP project is that it is approximately 450 km shorter than its rival, the Nabucco pipeline, and consequently is the most commercially viable gas transportation solution for bringing Caspian gas to Europe, a TAP exec said.
Official: Hungary Seeks Qatari LNG to Meet Energy Needs
(Tuesday, May 14, 2013) Hungary is eyeing Qatar as key partner to meet its growing energy needs. Qatar Chamber and Hungarian Chamber of Commerce and Industry signed a memorandum of understanding (MoU) to strengthen economic ties, in Doha, on Sunday.
Centrica Sees UK Gas Consumption Rise, Continues US Export
(Monday, May 13, 2013) Centrica plans to continue aligning its U.K. and U.S. gas businesses
Canada Minister Sees Better Prospect of Change to EU Oil-Sands Law
(Friday, May 10, 2013) A Canadian official said the possibility of changes to a proposed EU law that seeks to treat Canadian oil-sands crude as dirtier than conventional fuel have improved.
Nabucco Launches Open Season Process
(Thursday, May 09, 2013) The Nabucco Gas Pipeline International GmbH has announced the launch of the Open Season process for capacity booking in the Nabucco pipeline.
Russian Oil Giants Cut Gasoline Prices
(Wednesday, May 08, 2013) As world petroleum product prices fall, Russian oil companies report record inventories of gasoline, totaling 1.9 million tons. Russian oil giants see slashing prices as a way out.
Report: Saras Eyes Shell's Italian Fuel Stations
(Wednesday, May 08, 2013) Italian oil refiner Saras SpA has been interested in the Italian fuel stations of oil major Shell, CEO Dario Scaffardi told Corriere della Sera on Monday.
Rosneft Requests Tax Breaks for Eastern Petrochemical
(Wednesday, May 08, 2013) Rosneft said that it is working with the government on co-financing infrastructure construction and tax breaks for a planned petrochemical complex in Russia's Far East.