Latest Articles about Energy
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China Makes Strides in Energy “Go-out” Strategy
In recent months, Chinese National Oil Companies (NOCs) struck four major overseas energy deals with Russia, Kazakhstan, Brazil and Venezuela for a combined value of nearly $50 billion in Chinese capital (Dow Jones News, February 17). The growing footprint and outreach of these NOCs have... MORE
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Oil Excavation Crisis in Cyprus Threatens Turkish-Greek Cypriot Negotiations
The U.N.-led peace talks launched by the Turkish Cypriot leader Mehmet Ali Talat and his Greek Cypriot counterpart Dimitris Christofias in September 2008 aiming to find a comprehensive solution to the Cyprus problem has entered a new phase. On July 20 at the Peace and... MORE
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Tymoshenko Faces Damaging Domestic Gas Price Increases
European Commission (EC) and Ukrainian government experts will meet in Kiev on July 24 to discuss Ukraine's request for a loan to pump Russian gas into underground reservoirs for the winter. As the Naftohaz Ukrainy state-controlled oil and gas behemoth is nearly bankrupt, Ukraine has... MORE
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Moscow Pressures Hungarian MOL’s Russian Joint Venture
Whether by coincidence or design, Russian authorities are threatening to stop the Hungarian MOL company's oil extraction in Russia at the same time as Surgut Neftegaz appears to be forcing its way into MOL's ownership in Hungary (EDM, April 3, 6, 22, June 10, 24).... MORE
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Azerbaijan Boosts Implementation Prospects of Nabucco Inter-Governmental Agreement
The inter-governmental agreement (IGA) on the Nabucco project, signed on July 13, depends existentially on Azerbaijan for start-up and first-phase gas supplies. Azerbaijan remains a staunch supporter of Nabucco and other components of the E.U.'s Southern Corridor project, but not an unconditional supporter to be... MORE
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Medvedev Aims to Squeeze the Dollar in Partnership with China
Moscow and Beijing have hailed what they describe as a bilateral strategic partnership, but Russian and Chinese state-run energy companies struggle to agree to a compromise on energy prices. Both sides insisted that the visit by China's President Hu Juntao to Russia on June 16-18... MORE
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Nabucco Intergovernmental Agreement Signed in Ankara
On July 13 the Nabucco transit countries removed an important obstacle for the strategic pipeline project. Attending a high profile meeting hosted by Turkey, the prime ministers of Austria, Bulgaria, Hungary, Romania and Turkey inked the Intergovernmental Agreement (IGA). The ceremony was also attended by... MORE
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EU Commission Warns Member States of New Russian-Ukrainian Gas War
Following a recent telephone conversation between the head of the European Commission Jose Manuel Barroso, and the Russian Prime Minister Vladimir Putin, the commission urged all E.U. member states to immediately begin filling gas storage facilities because they believe that a new Russian-Ukrainian gas war... MORE
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Ankara Approves Nabucco Following High Level Visit to Moscow
Ankara has reportedly finally given the green light to the Nabucco project, and the intergovernmental agreement might be signed on July 13. When the news broke on the Russian deal with Azerbaijan (EDM, July 2), the Turkish media initially suggested it represented a lethal blow... MORE
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Azerbaijan-Russia Gas Agreement: a Wakeup Call to Brussels and Washington
Meeting in Baku on June 29, Azerbaijan's President Ilham Aliyev and his Russian counterpart Dmitry Medvedev witnessed the signing of an agreement on Azerbaijani gas deliveries to Russia. The initial volumes are small, but the agreement as such is a powerful reminder that the Western-backed... MORE