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The Daily Telegraph: Database: Tuesday 26 September 2006

(Filed: 26/09/2006)

Legal

• BP’s Russian venture OAO TNK-BP was warned by prosecutors it could lose its permit to develop the $18bn Kovykta natural-gas field in Siberia over licence and environmental violations.

Energy

• The UK energy regulator proposes to allow the country’s natural-gas network operators to raise transportation charges by 9.7pc because of higher wholesale gas prices and pension costs for the grid operators.

• Royal Dutch Shell ‘s Sakhalin unit signed letters of intent, worth $100m each, with two service companies to work on an oil and gas project for which the Russian government may cancel a key permit.

Total, the oil company, is offering space on the UK’s largest natural-gas import pipeline, which is increasing its capacity by 42pc.

• British Energy Group whose power plants can produce a fifth of the UK’s electricity, has about 44pc of its nuclear capacity idled for maintenance, operational data on a National Grid Web site shows.

• Scottish & Southern Energy, the UK’s third-largest energy supplier, said it and Norway’s Statoil applied to double capacity at a natural-gas storage facility in Yorkshire, northern England.

• Nautical Petroleum a UK oil explorer and producer, posted an 18-month loss after acquiring stakes in blocks in the North Sea and southwest France.

• Hardy Oil & Gas, a UK-based exploration company, said profit climbed 49pc in the first half as oil production increased.
 

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