The U.K.'s biggest power producer British Energy Group Plc announced its fiscal third-quarter profit fell 18%, weighed down by the cost of unscheduled reactor shutdowns and lower electricity prices.
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Maryland's largest power producer Constellation Energy Group reported that it will sue the state in federal court to cancel almost $400 million in credits it was pressured by lawmakers two years ago into giving electricity customers.
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Iberdrola, Spanish power company, announced that it was selling its 4 percent stake in Portuguese energy firm Galp Energia.
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The Iran-Armenia gas pipeline, officially opened on March 19 by Iranian President Mahmoud Ahmadinejad and Armenian President Robert Kocharian, has quickly emerged as a source of speculation about regional energy alliances. A trip to Armenia by Georgian President Mikheil Saakashvili two days after the pipeline's opening provided plenty of fuel for conjecture.
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The price for the Russian gas Belarus will buy will be agreed by the new year, Belarus Prime Minister Sergei Sidorskiy told the press while paying a working visit to Mogilev oblast.
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Even as doubts about Kazakhstan's commitment to democratic reform have left its bid to chair the Organization for Security and Cooperation in Europe (OSCE) in flux, President Nursultan Nazarbaev used a recent trip to Brussels to drive home his country's growing importance as an energy supplier. These two trends -- doubts about democracy and increasing hydrocarbon clout -- seem poised to determine Kazakhstan's position on the international arena in coming years. How comfortably can they coexist?
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