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Energy News

UK court to hear $4bn Rusal dispute
Oleg Deripaska, the Russian billionaire, will have to fight a $4bn (€2.5bn) claim brought against him in the High Court in London following an extraordinary judgment that cites assassination, corrupt judges and Kremlin interference as the risks of running a trial in Russia

Ruling opens can of worms for Deripaska
When Mr Justice Christopher Clarke heard opening arguments in April for Michael Cherney's case to bring his $4bn claim for a 20 per cent stake in Oleg Deripaska's Rusal to London, he was well aware of the importance of the plea

Babcock & Brown fund buys Dominion utilities
An unlisted energy and infrastructure fund managed by Australia's second largest investment firm has agreed to buy Dominion Resources' natural gas utilities in Pennsylvania and West Virginia for $910m

BHP clears US antitrust concerns over Rio
Spotlight now turns to competition authorities in Europe, which are likely to launch an in-depth inquiry into the $170bn acquisition

Moscow to speed TNK-BP visa renewals
Russian officials said they would speed visa and work permit renewals for foreign managers at TNK-BP, in an unexpected boost for BP in its battle to retain its role in the Russian oil venture

Medvedev visit to focus on gas supplies
The Russian president's trip to Azerbaijan and Turkmenistan, signals Moscow's determination to dominate energy resources from the Caspian Sea region

Energy demand boosts Indonesian coal mines
Jakarta's big four listed miners now comprise 15% of the stock exchange's $200bn market cap and 20% of its daily turnover, as interest by foreign investors in the sector surges

Coal company in £700m power deal
Fresh signs of the resurgence of Britain's coal mining industry emerged with the announcement of an agreement by Scottish Coal to supply £700m of coal over five years to Scottish Power

Talbot Group buys 19% stake in US miner
Talbot Group, Ken Talbot's private investment company, has paid $190m for a 19.9 per cent stake in PBS Coals, a privately-held Pennsylvania coal miner

Wood Group benefits from high oil price
John Wood Group said it was confident of delivering another year of strong growth thanks to expenditure by oil companies

Providence predicts success for Irish oil
Company says high oil price is making development of Irish oilfields commercially viable

Growth in renewables bucks global slowdown
Investment in renewables and other forms of low-carbon energy increased with nearly $150bn spent on the technologies worldwide, says a UN Environment Programme report

Non-Opec producers face stalling output
Countries outside the Opec oil cartel will barely be able to increase their production of crude oil over the next five years for the first time in the industry's...

Severn Trent escapes record fine
A judge has refused to impose a regulatory-style penalty that could have cost the second biggest water company up to £70m over deliberately misreported water leakage levels

TNK-BP chief prepares staff to leave Russia
The BP-backed chief executive of TNK-BP, its Russian oil venture, has warned foreign staff in an email that he and all other foreign employees could be forced to leave Russia by the end of the month because Moscow authorities had not renewed work visas