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.

Vienna  - The price for oil produced by

Vienna - The pri

Nicosia, 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.

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.

Vienna  - The price for oil produced by the