TOP NEWS PICK : MAY 31, 2011

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India's Solar Mission on Track, But Needs More Props

NEW DELHI -- While India's solar mission to generate at least 1,100 megawatt of power by 2013 is on track now, private players feel the government needs to accelerate the pace of growth in the coming years to meet the eventual goal of generating 7% of the nation's power needs. | WSJ

Gazprom: Conflicting Statements From Top Management on Gas Exports

The management of Gazprom has started issuing conflicting statements. On Friday Gazprom's head A.Miller assured the Russian President, D. Medvedev that the export of Russian gas is growing at a record pace. | Oil Voice

Germany to close nuclear plants by 2022; a win for renewable energy

As a direct result of the nuclear meltdown at the Fukushima Daiichi plant in Japan, Germany will close its 17 nuclear power plants which currently generate 20% of the country’s electricity by 2022. | IFANDP 

Brent up on Greek bailout

Brent rose above $115 a barrel today as the dollar weakened on improved prospects of a bailout for debt-laden Greece, but oil remained on track for a fall in May, snapping a record eight-month winning streak. | Upstream Online

Tullow Oil To Launch Secondary Listing And Share Offer On Ghana Stock Exchange

Tuesday said is planning for a secondary listing of its shares on the Ghana Stock Exchange and an offering of 4 million Tullow shares in Ghana. | RTTNews

 

Iran not planning to import gasoline this fiscal-NIOC

NEW DELHI May 31 (Reuters) - Iran is not planning to import petrol and diesel in its current financial year as it has stepped up domestic gas usage, a senior official at NIOC said on Tuesday. | Reuters

  

Nuclear phase-out can make Germany trailblazer – Merkel

German Chancellor Angela Merkel has said a decision to phase out nuclear power by 2022 can make her country a trailblazer in renewable energy. | BBC

Crude oil set for worst month in a year

Brent crude oil fell below $US115 a barrel today, heading for its first monthly decline this year, as investors weighed the prospect that Europe's debt crisis and a sputtering US economy may slow demand. | TVNZ

Central Asia Gas Pipeline has transported 10 billion cubic m

The Central Asia - China pipeline (CAP) has transported 10 billion cubic m of gas in total to China. The daily amount transported is 40 million cubic m. China reports that the imported gas quality corresponds to the Chinese state standards. | Oil Voice

Ghana: Government to spend 70% of Oil Revenue on Infrastructure

Vice President John Dramani Mahama has announced that 70 percent of Government's share of oil revenue would be used for infrastructural development throughout Ghana. | Joy Online