Energy Sector

Obama sets stage for pollution limits with new reporting rule

Obama sets stage for pollution limits with new reporting rule Washington  - The United States will ask companies to report on their greenhouse-gas emissions that are blamed for global warming, setting the stage for government-imposed limits on climate pollution supported by President Barack Obama and long resisted by his predecessor.

The Environmental Protection Agency (EPA) on Tuesday said it will ask most major polluting firms to submit annual reports on their emissions levels beginning with 2010.

Russia, Hungary move forward on South Stream pipeline

South Stream pipeline Moscow - Russia and Hungary agreed to set up a joint venture to build the Hungarian stretch of the South Stream pipeline, Russian Premier Vladimir Putin said Tuesday after talks with his Hungarian counterpart Ferenc Gyurcsany in Moscow.

Russian gas export monopolist Gazprom and Hungary's energy firm MOL also plan to build new underground storage facilities in the agreement inked Tuesday, Putin was cited by news agency Interfax as saying.

OPEC oil price rises above 44 dollars

OPEC oil price rises above 44 dollarsVienna  - The price for oil produced by

OPEC oil price falls slightly to 43.15 dollars

OPEC oil price falls slightly to 43.15 dollars Vienna - The pri

Greek company seeks to make Dubai biggest solar energy field in the world

Greek company seeks to make Dubai biggest solar energy field in the worldNicosia, Mar 8  : Portland Group of Greece, a marine and financial solutions company, has announced plans to develop wind and solar energy in the UAE, with an initial investment of 100 million euros, aiming to turn Dubai into the sight of the biggest energy field in the world.

The President of Portland Alexander Christodoulakis told the Gulf News that with a fraction of the amount spent on energy and construction, Dubai can set an example to the world in the field of renewable energy.

OPEC says calls for low oil prices are short-sighted

OPEC says calls for low oil prices are short-sighted Vienna  - The Organization of the Petroleum Exporting Countries (OPEC) on Friday rejected calls to keep oil prices at present low levels, arguing this would lead to a supply crunch.

Maintaining the current price would help stimulate the economic recovery of oil-importing countries, the Executive Director of the International Energy Agency (IEA), Nobuo Tanaka, was quoted as saying by the Financial Times on Thursday.

Pages