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energy

GEORGIA - ENERGY
BP to reopen pipeline in Georgia
After having stopped pumping due to the Russian-Georgian conflict earlier this week, British energy giant BP said that it had resumed pumping gas into the South Caucasus pipeline in Georgia.
GERMANY - ENERGY
Germany's E.ON toasts to soaring profits
German energy giant E.ON posted a higher than expected 3.3-billion-euro net income in the first six months of 2008, a rise partly due to higher electricity prices and rising sales.
ENERGY - OIL
Oil prices at lowest level since May
Oil prices fell to $113 a barrel, their lowest level in four months, amid faltering global demand. The drop in prices is the steepest decline in decades, due to the increasing worries about global energy consumption and supply disruptions in Georgia.
ENERGY - UNITED KINGDOM
London in favour of EDF takeover of British Energy
Britain's industry minister is backing the French energy giant EDF's move to buy nuclear operator British Energy. According to London, despite a recent disagreement between the parties, negotiations continue.
OIL - PROFITS
Exxon Mobil posts record profits
Oil group Exxon Mobil announced record quarterly profits, although results were lower than markets had expected. Some European oil companies also reported increased profits thanks to high oil prices.
ENERGY - ENVIRONMENT
Arctic believed to host vast oil reserves
The Arctic Circle has an estimated 90 billion barrels of undiscovered, technically recoverable oil, as well as 1,670 trillion cubic feet of gas and 44 million barrels of natural gas liquids, according to a report released by the US Geological Survey.
RUSSIA - VENEZUELA
Russia and Venezuela clinch energy deals
Venezuelan President Hugo Chavez is in Russia to discuss arms deals and energy policies with his counterpart Dmitry Medvedev. On Tuesday, Medvedev announced that Russian companies, Gazprom, Lukoil and TNK-BP, would work in Venezuela.
FRANCE - ENERGY
New GDF Suez shares fall as Suez green branch jumps
GDF Suez, the new French energy giant, has lost 4.02% of its value on its first day on the French stock index. On the other hand, its green branch, Suez Environnement, closed with a 30% share increase.
FRANCE - ENERGY
New GDF Suez is third- largest French company
GDF Suez, the new French energy giant, has entered the French stock index below expectations. At 42.64 euros per share, it becomes the third-largest French company by capitalisation behind Total and EDF.
18/07/2008 - THE BUSINESS INTERVIEW

Jean-François Cirelli, Vice Chairman of GDF Suez

In one of the biggest corporate marriages France has seen in years, Europe's newest energy giant, GDF Suez, received the blessing of shareholders. Douglas Herbert discusses the merger with Jean-François Cirelli (photo), the company's vice chairman.
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