The head of Iraq's South Oil Company also insists that current developments have not affected and will not affect oil operations in the south.» Read More
The U.S. oil production boom had been expected, but the magnitude of change in such a short period of time is a surprise.
U.S. stock index futures were narrowly mixed Friday as investors hesitated to jump in as finance ministers and central banks from the Group of 20 met in Moscow amid growing worries over a currency war.
The new head of Italian defense group Finmeccanica has inherited a corruption crisis over a $750 million helicopter deal with India that risks hurting the company's business.
European shares suffered their biggest daily drop this month after gloomy earnings and weak U.S. economic data hit sentiment on Wednesday and left some positioning for further falls in the near-term.
Corporate chieftains gathered in Davos, Switzerland this week see reason to be optimistic that the shale boom can re-industrialize the US economy and drive not only U.S. but also global growth.
It is difficult to export and compete with the U.S. due to the high euro/dollar exchange rate, which should be around parity, says Giuseppe Recchi, chairman of Italy's Eni.
Italy's Eni plans to invest $8 billion in Libya over the next 10 years to develop its upstream business as it moves to strengthen its grip as the leading international oil and gas producer in the country.
The boom in U.S. natural gas production is changing industry dynamics in Europe and Asia, chairman of Italy's Eni, Giuseppe Recchi, told CNBC's "Closing Bell" on Friday.
LONDON, Oct 12- Britain's' Big Six' energy suppliers, which control 99 percent of the market, are expected to increase energy tariffs this winter following a rise in underlying wholesale prices, network costs and mandatory government schemes to reduce carbon emissions and help disadvantaged households.
In France, workers at E.ON coal-fired plants were striking again on Friday, having started selected actions on Monday in a dispute over site closures and job losses. Monday baseload in France was up by 12.25 euros at 58.50 euros a megawatt hour.
FRANKFURT/ VIENNA, Oct 12- Austrian energy group Verbund AG is in talks regarding its business in Turkey and is exploring a range of options from scaling back to expanding, it said on Friday.
FRANKFURT, Oct 12- Austrian energy group Verbund. is in strategic talks regarding its business in Turkey, it said on Friday. Sources close to the deal had told Reuters in August that Germany's biggest power company, E.ON, was in talks to expand in Turkey by buying a stake in energy firm Enerjisa from Verbund.
PARIS, Oct 12- French striking workers halted production at German power group E.ON' s four coal-fired power plants in France on Friday, cutting about 3,000 MW in output capacity, a trade union representative said.
The governor of Lombardy refused to resign over a widening graft scandal on Thursday but said he would appoint a new government for Italy's wealthiest and most populous region, adding to political disarray six months from general elections.
COPENHAGEN, Oct 11- PensionDanmark became the latest manager of retirement funds to branch out in the hunt for higher returns, saying it would invest 1.6 billion euros in energy infrastructure in Europe and the United States.
BERLIN, Oct 11- Germany's environment minister outlined plans on Thursday to limit support for wind energy and biomass generation following a similar cap imposed on the photovoltaic sector, as part of a proposed reform of renewable energy policy.
*More wind electricity output in Germany, France. *Unions stopped E.ON' s French thermal power plants. ,while Germany's equivalent spot contract also fell 6.85 euros to 45.15 euros per MWh.
MILAN, Oct 11- Consumption of refined oil products in Italy fell 14.8 percent year-on-year in September to around 5.3 million tonnes, driven by weaker demand for new cars and auto fuel, industry group Unione Petrolifera said on Thursday.
*Charge to rise to 5.3 cents from 3.6 cents- source. BERLIN, Oct 10- Germany's surcharge for renewable energy will rise by almost half next year, a government source told Reuters on Wednesday, intensifying the burden for consumers from the country's shift away from nuclear power.
ROME, Oct 10- Italian oil and gas group ENI. is considering not renewing so-called "take-or-pay" contracts and is discussing the issue with Italian authorities, Chief Executive Paolo Scaroni said on Wednesday.