The Abu Dhabi National Energy Company has decided to extend its share buyback program for another year, reported Khaleej Times, a move that is intended to support its share price. Last year the company secured approval from the Securities and Commodities Authority to repurchase from the market up to 10% of equity or 622.5 mn [...]

On February 2, 2010 TNK-BP completed the placement of Eurobonds in the aggregate amount of $1 bn, consisting of a 5-year $500 mn tranche and a 10-year $500 mn tranche. The issuer of the Eurobonds is TNK-BP Finance S.A. (Luxembourg), is a wholly owned subsidiary of TNK-BP International Ltd., which is the guarantor of [...]

Dana Gas’ FY 2009 Revenue from hydrocarbon sales rose by 12% YoY to AED1.28 bn, while gross profit rose by 69% YoY to AED436 mn. It’s FY 2009 NI fell by 26.7% YoY to AED88 mn from AED120 mn in FY 2008, despite significant profits from the sale of 10% of the company’s interest in [...]

Saudi Aramco plans to invest over SAR450 bn (~$120 bn) in oil and petrochemical projects over the next five to six years, the company’s CEO Khalid Al-Falih told Al Arabiya news channel. The company intends to spend SAR225 bn ($60 bn) on the oil sector during the next five years, with the remaining funds invested [...]

Suzlon Energy’s units REpower System AG has received a contract for the order from German utility RWE Innogy to deliver 48 wind turbine farm projects. Suzlon Energy holds a 90.71% stake in REpower System AG. The 48 wind turbines of the model REpower 6M have a total capacity of 295 mW and have to be [...]

A new energy conservation program approved by Lukoil’s executive board is expected to yield savings of RUB 9.2 bn ($303 mn) over the 2010-12 period and RUB 2.17 bn ($71.3 mn) in 2010. The program is a cornerstone in the company’s plans for attaining reduction of energy consumption by 20% over the next few years.
In [...]

Transnefteproduct, a subsidiary of Transneft, will raise by an average of 7.3% its tariffs for transportation of petroleum products in Russia and abroad, beginning on February 1, 2010.  The cost of transportation in Russia will rise by 7.9% on average. Transportation services for petroleum products in Russia will see prices rise by 8.1% on [...]

Leading Polish natural gas provider PGNiG, Russia’s Gazprom, and their joint venture EvRoPol GAZ have signed an agreement on cooperation, which provides for extension until 2045 of the contract on transporting gas to Western Europe across Polish territory using the Yamal-Europe pipeline. EvRoPOl GAZ is the operator of the Polish segment of the Yamal-Europe pipeline. [...]

Leading Polish natural gas provider PGNiG reached an agreement with Russia’s Gazprom on increasing imports of Russian gas, resolving remaining differences after a year of negotiations, and paving the way for an international agreement on gas supplies.
PGNiG has agreed to buy as much as 10.3 bn cubic meters of gas per year through 2037, while. [...]

Rosneft, Russia’s largest oil producer, has discovered a strategic new field, The Sevastyanovo deposit in East Siberia, which could boost its proven and probable reserves by 4% or 150 mn tons of crude or more, Rosneft said. This is about 30% more than Rosneft’s entire 2009 output of crude oil and is one of the [...]