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| Salini wants to donate 20 million euros to restore Pompeii Thursday, Jun 27, 2013 12:01 PM PDT  MILAN (Reuters) - Italian construction magnate Pietro Salini is prepared to donate 20 million euros ($26 million) to help restore and preserve the ancient city of Pompeii, which has been damaged by weather and plagued by the mafia and corrupt management. "It would be a crime to let Pompeii crumble," Salini, CEO of Impregilo, said at a press conference on Thursday to present the construction company's new strategy plan following a takeover of Impregilo by his family owned group. ... Full Story | Top |
| Enbridge says Ozark crude pipeline restarted Thursday Thursday, Jun 27, 2013 11:45 AM PDT HOUSTON (Reuters) - Enbridge Energy Partners LLC said it restarted its 215,000 barrels-per-day (bpd) Ozark crude pipeline on Thursday after a shutdown for maintenance, and the line was operating at a reduced rate. Enbridge shut the 435-mile pipeline on June 14 for maintenance but excavated a portion of the line under a lake near Tulsa, Oklahoma, for a closer look when an initial inspection indicated it might have weak spots. No leaks were found, Enbridge spokesman Larry Springer said. ... Full Story | Top |
| Marc Rich, 'King of Oil', laid to rest in quiet Israel ceremony Thursday, Jun 27, 2013 11:38 AM PDT  By Steven Scheer KIBBUTZ EINAT, Israel (Reuters) - Billionaire Marc Rich, the pioneering oil trader who was also a fugitive from U.S. justice for tax evasion, racketeering and busting sanctions with Iran, was laid to rest in a quiet funeral outside Tel Aviv on Thursday. About 100 people, mostly family and old business associates, attended the Jewish religious funeral in the pastoral grounds of Kibbutz Einat, where those who spoke described Rich as loving, kind and generous and not as his public image might suggest. ... Full Story | Top |
| Nexen cuts Long Lake oil sands production after Enbridge spill Thursday, Jun 27, 2013 11:19 AM PDT CALGARY, Alberta (Reuters) - Nexen Inc said Thursday it has reduced production at its Long Lake oil sands project in northern Alberta after Enbridge Inc shut down a 17 kilometer pipeline serving the facility following a 750-barrel leak. A spokeswoman for Nexen, which is owned by CNOOC Ltd would not provide specific numbers on how much production had been reduced. "We're working with Enbridge to get the pipeline operating as quickly as it is safe to do so," spokeswoman Patti Lewis said in an email. (Reporting by Nia Williams; Editing by Gerald E. McCormick) Full Story | Top |
| NASA telescope to probe long-standing solar mystery Thursday, Jun 27, 2013 10:21 AM PDT  By Irene Klotz CAPE CANAVERAL, Florida (Reuters) - A small NASA telescope was poised for launch on Thursday on a mission to determine how the sun heats its atmosphere to millions of degrees, sending off rivers of particles that define the boundaries of the solar system. The study is far from academic. Solar activity directly impacts Earth's climate and the space environment beyond the planet's atmosphere. Solar storms can knock out power grids, disrupt radio signals and interfere with communications, navigation and other satellites in orbit. ... Full Story | Top |
| TSX climbs as U.S. data warms sentiment Thursday, Jun 27, 2013 09:02 AM PDT  By John Tilak TORONTO (Reuters) - Canada's main stock index advanced on Thursday as healthy U.S. economic data lifted investor sentiment and fueled gains in almost every major index sector. Further boosting the mood was data that showing German unemployment dropped unexpectedly in June and that Britain did not suffer a double-dip recession early last year as previously thought. The index's gains was limited, however, by declines in telecoms stocks, which fell for the second straight day after reports that big U.S. player Verizon Communications Inc is looking to enter the Canadian market. ... Full Story | Top |
| SapuraKencana, Seadrill win $2.7 billion Petrobras contract Thursday, Jun 27, 2013 09:01 AM PDT KUALA LUMPUR (Reuters) - Brazil's state-run oil firm Petrobas SA has awarded a $2.7 billion offshore support vessel contract to Norway's Seadrill and Malaysia's SapuraKencana , the latter firm said on Thursday. Their joint venture - Sapura Navegacao Maritima - won an 8-year deal to build, charter and operate three pipe-laying vessels, with delivery scheduled for the second quarter of 2016, the company said in a stock exchange filing. Petrobras can extend the contract by further 8 years. A decision to build the ships outside of Brazil comes as Petrobras seeks to cut costs by $15. ... Full Story | Top |
| Rosneft offers to buy out small TNK-BP shareholders in cut-price deal Thursday, Jun 27, 2013 08:45 AM PDT  By Katya Golubkova MOSCOW (Reuters) - Russian state oil major Rosneft on Thursday offered to buy out small shareholders in TNK-BP Holding but said it would pay less for the stock than the price at the time of the takeover in March. Chief executive Igor Sechin said that Rosneft was not a "charity fund" when it bought TNK-BP and did not intend to buy out minority shareholders, raising complaints from them and questions from international investors about corporate governance in Russia. Following the TNK-BP deal, Rosneft became the world's No. 1 oil producer by output, pumping 4. ... Full Story | Top |
| Nigerian energy firm Oando says Q1 profit down 14 pct Thursday, Jun 27, 2013 08:14 AM PDT LAGOS (Reuters) - Nigerian energy firm Oando said on Thursday its first quarter pretax profit fell 14 percent to 4.28 billion naira against 4.98 billion naira in the same quarter a year ago. Turnover at the oil marketing and exploration firm, which also has a secondary listing in Johannesburg, fell to 121.1 billion naira in the three months to March from 158.6 billion naira in the same period a year earlier. Shares in Oando were up 0.23 percent to 12.90 naira, shrugging off the drop in revenue and profit. Full Story | Top |
| Libya defence minister removed after Tripoli clashes Thursday, Jun 27, 2013 07:52 AM PDT By Ghaith Shennib and Marie-Louise Gumuchian TRIPOLI (Reuters) - Libya's defence minister will be removed from his post following fierce clashes between rival armed militias in the capital Tripoli in which 10 people were killed and more than 100 injured, Prime Minister Ali Zeidan said on Thursday. Calling the repeated violence plaguing Libya "suicidal scenes", Zeidan said his government and the national assembly had pledged to clean Libya's streets of weapons, a mammoth task in a country where militias often do as they please. ... Full Story | Top |
| Libya defense minister removed after Tripoli clashes Thursday, Jun 27, 2013 07:49 AM PDT By Ghaith Shennib and Marie-Louise Gumuchian TRIPOLI (Reuters) - Libya's defense minister will be removed from his post following fierce clashes between rival armed militias in the capital Tripoli in which 10 people were killed and more than 100 injured, Prime Minister Ali Zeidan said on Thursday. Calling the repeated violence plaguing Libya "suicidal scenes", Zeidan said his government and the national assembly had pledged to clean Libya's streets of weapons, a mammoth task in a country where militias often do as they please. ... Full Story | Top |
| Nigeria LNG exports blocked for sixth day over tax dispute Thursday, Jun 27, 2013 06:30 AM PDT ABUJA (Reuters) - Nigeria's liquefied natural gas (LNG) exports have been blocked for a sixth day by the maritime security agency due a dispute over shipping levies, the state LNG firm said on Thursday. The Nigerian Maritime Administration and Safety Agency (NIMASA) is stopping LNG exports because it says Nigeria LNG, which is part owned by Shell, Total and Eni, is not paying a three percent shipping levy. Nigeria LNG says under law it is exempt from the tax and has gone to court to prevent NIMASA blocking exports. Full Story | Top |
| Britain doubles north England shale gas estimate Thursday, Jun 27, 2013 05:46 AM PDT By Sarah Young and John McGarrity LONDON (Reuters) - Britain doubled its estimate of shale gas resources in the north of England, renewing hopes of reducing its growing reliance on imports, but the government said shale explorers would have to share revenues with local communities. A report by the British Geological Survey estimated on Thursday the rocks of the so-called Bowland shale area held 1,300 trillion cubic feet (tcf) of gas. The latest estimate indicates shale gas could transform the UK energy market, even though typically only 10 to 15 percent of shale gas in place is recoverable. ... Full Story | Top |
| Ofgem sees higher blackout risk by 2015 Thursday, Jun 27, 2013 05:27 AM PDT LONDON (Reuters) - Britain's risk of electricity blackouts by 2015 is more serious than previously thought, regulator Ofgem warned on Thursday. The country's spare electricity supply margin could fall as low as 2 percent in 2015/16, down from around 14 percent currently. Last year Ofgem gave an estimate of 4 percent. "Electricity supplies are set to tighten faster than previously expected in the middle of this decade," Ofgem said in a report, adding that the chance of supply disruptions would rise to one in 12 years in 2015/16 from one in 47 years now. ... Full Story | Top |
| Lukoil CEO says no sale as Rosneft bid spree rumors swirl Thursday, Jun 27, 2013 04:42 AM PDT MOSCOW (Reuters) - Lukoil has not received any takeover offers and doesn't expect one, its chief said on Thursday, after it became the latest Russian oil company to face speculation it could be a target for state oil company Rosneft. Since its record $55 billion deal to buy TNK-BP, creating the world's largest listed oil producer and by far the largest in Russia, Rosneft has been the subject of speculation it will embark a fresh buying spree despite large debts. ... Full Story | Top |
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