Options dwindle for UK facing winter tied to tight Norway gas

* UK at risk of price spike as Norway's exports are reduced

* Continental Europe to take more gas from Russia

* UK spot prices could rise above Russian oil-linked contracts

By Nerijus Adomaitis

OSLO, Sept 30 (Reuters) - Britain faces a tight winter gas season as it relies heavily on struggling Norwegian supplies and has few alternatives to source cheap gas elsewhere.

Britain already relies heavily on Norwegian imports to meet its needs and analysts say this dependency is set to rise as Russian gas will mainly go to continental Europe, while shipments of overseas liquefied natural gas (LNG) will mostly head to Asia, where customers pay more for gas.

The new gas year starts on October 1, when European gas buyers and sellers adjust supply volumes ahead of the peak demand winter heating season.

But Norway's biggest gas field Troll, which accounts for around 35 percent of its gas production, has had its capacity reduced for much of this year, and its operator says supplies will be limited until 2014.

"We expect to see somewhat reduced capacity into the winter at the Troll field due to technical issues at Troll A," said Morten Eek of the field's operator Statoil, adding that its remaining capacity would still allow the company to "more or less" meet production quotas.

Norway's gas system operator Gassco said production capacity would be reduced by 34 million cubic metres per day until September 2014, compared with a capacity of up to 120 mcm of gas per day before the outage.

Norway exported 103.8 billion cubic metres (bcm) of pipeline gas in the 2012/2013 gas year, which ended on September 30, including 29.8 bcm to the UK, up from 25 bcm during the previous gas year of 2011/2012.

For the first eight months of 2013, Norwegian exports to Europe fell four percent to 68.6 bcm from 71.3 bcm during the same period in 2012.

"Norway normally produces gas at full capacity during the coldest months, and Troll's outage leaves no flexibility to ramp-up production to meet peak demand in case both the UK and continental Europe freeze," said Anette Einarsen, an Oslo-based gas analyst at Thomson Reuters Point Carbon.

News about Norway's gas outage extending throughout the winter has forced British gas traders to buy more forward contracts in order to hedge against any further supply disruptions from Britain's key gas supplier.

LOW FLEXIBILITY

Should Norwegian supplies not meet demand in case of a cold British winter, UK customers could begin importing gas from continental Europe, which receives most of its gas from Russia.

But analysts say such a switch would come at a high cost, forcing British customers to pay above Russian oil-indexed gas prices to attract flows from continental Europe.

Point Carbon estimates Russian oil-indexed price at 74-78 pence per therm, compared with current UK spot prices of under 65 pence and average winter prices of below 70 pence per therm.

Russia sells most of its gas under long-term contracts linked to the price of oil, while Norway has switched increasingly to a pricing model based on gas spot markets such as Britain's National Balancing Point (NBP).

Oil prices have been relatively high as a result of booming demand outside Europe and as a result of political unrest in North Africa and the Middle East, while European spot gas prices have been low because of Europe's sluggish economy.

This means that Russian oil-linked gas prices have been more expensive than Norwegian spot supplies.

To regain competitiveness, Russia's gas export monopolist Gazprom has handed out price rebates worth billions of euros over the past year, bringing its contracts closer to the spot market, and analysts say this will increase Russia's gas market share.

"We expect the continent to take more Russian gas and less Norwegian gas, if we have a normal winter, during the next gas year," said Einarsen.

Russian preliminary gas exports to Europe rose by 14 percent to 105.2 bcm during January-August, and its gas monopoly Gazprom plans to restore supplies to Europe to 152 bcm this year after they fell 8 percent to 139 bcm in 2012.

Alternatively Britain could get gas through shipped supplies of liquefied natural gas (LNG) from suppliers such as Qatar.

But LNG prices are high as its biggest buyers, Japan and South Korea, pay far more for cargoes than European buyers.

Asian spot prices for LNG cargoes are around $15.5 per million British thermal units (mmBtu), equivalent to 155 pence per therm, and analysts say British spot gas prices would have to rise closer to this level in order to convince LNG exporters to sell cargoes to Europe instead of Asia.

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UPDATE 2-Rosneft offers lowball $1.5 bln for TNK-BP minorities

* Offer follows months of bickering

* TNK-BP shares up around 5 percent

* Concern over implications for minority shareholders (Recasts with comparative price, expected outcome)

By Vladimir Soldatkin

MOSCOW, Sept 30 (Reuters) - Oil group Rosneft is to buy the remaining shares in TNK-BP Holding for a fraction of the price it paid BP and a group of oligarchs for their stakes, in a worrying development for minority shareholders in Russian companies.

Rosneft bought the holding company and its parent TNK-BP last year in a $55 billion takeover that created the world's largest publicly traded oil company by output. Minority shareholders own about 5 percent of the unit, now renamed RN Holding.

The deal to buy them out for about $1.5 billion was announced by Rosneft on Monday, after months of tough talk and refusal to acquire the shares had sent jitters through the investor community and raised questions over corporate governance in Russia.

"It will leave a bad impression and raises concerns," said Chris Weafer, senior partner with consultancy Macro-Advisory.

"The next time a big state company is looking at an acquisition of a company, the investors will be immediately very wary of that situation. Minority investors will run ... rather than wait and see what will happen."

Rosneft said it planned to buy out holders of ordinary shares at 67 roubles ($2.07) per share and preferred shares at 55 roubles, the company said. In response, TNK-BP ordinary shares rose by almost 5 percent on Monday to 63.3 roubles, while Rosneft was down 1.27 percent.

But the offer disappointed some investors hoping to get closer to the $3.70 a share analysts calculated that oligarchs including Mikhail Fridman received at the time of the TNK-BP buyout. The other tycoons were German Khan, Viktor Vekselberg and Len Blavatnik.

"The offer is not that generous compared to the $3.70," said one shareholder who spoke on condition of anonymity, but did not comment on whether further steps would be taken.

"This is a bad offer," said Weafer. "The price they are offering to the minorities is almost half what Rosneft paid to BP and the oligarchs... and it sends a negative message."

'NOT A CHARITY'

Rosneft and its powerful president, Igor Sechin, had repeatedly said that the company had no obligation to buy the remaining shares. Sechin has said that Rosneft is not a "charity fund".

He changed his tone on Friday, however, saying that the company would consider buying the shares with a 20 to 30 percent premium to the market price.

Sources close to the minority shareholders have told Reuters that they think Rosneft should buy them out for $2.8 billion, based on what it paid for its majority stake in TNK-BP.

Sberbank CIB analysts said in a note: "The only shareholders who will benefit from this are speculators who bought the shares on the cheap during the long period of uncertainty - precisely the people whom Sechin said he wanted to punish."

Russian stocks trade at a near 50-percent discount to those of other emerging nations, reflecting foreign investors' worries over corruption, corporate governance and stalled efforts to modernise the economy.

Concerns about the treatment of minority shareholders have added to that sentiment.

Veteran investor Mark Mobius, executive chairman of Franklin Templeton's emerging markets group, said earlier in the year that the TNK-BP buyout "is the kind of issue that gives pause for thought on the behalf of investors coming to Russia".

Mobius, whose emerging markets fund has invested in TNK-BP, has around $1.2 billion invested in Russia. He was not available for immediate comment about Monday's offer.

($1 = 32.3337 Russian roubles) (Additional reporting and writing by Megan Davies; editing by Mark Trevelyan)

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China to offer tax breaks to solar power manufacturers

SHANGHAI, Sept 29 | Sun Sep 29, 2013 12:29pm EDT

SHANGHAI, Sept 29 (Reuters) - China's Ministry of Finance announced it will offer tax breaks to manufacturers of solar power products on Sunday, as China moves to support an industry still struggling to deal with massive overcapacity and weak demand.

The ministry said in a short statement on its website that producers of solar power products will receive immediate refunds of 50 percent of value-added taxes.

The National Development and Reform Commission provided subsidies for solar power stations in late August.

"China's bloated photovoltaic industry still faces a grim outlook as many companies are deeply mired in debts," said a report on the official Xinhua news service discussing the announcement.

It cited data from the China Renewable Energy Society saying that the country's top 10 solar panel makers are up to 100 billion yuan ($16.34 billion) in debt, with a debt to asset ratio above 70 percent on average.

Beijing has said it wants to consolidate the industry, but the sector continues to enjoy protection at the central and local level; the latter is particularly strong because solar power companies are frequently major employers.

China's LDK Solar Co Ltd partly defaulted on a bond payment in April, then failed to meet another payment on time in August.

China's Suntech Power Holdings Co Ltd said Chief Executive David King had resigned from the company in mid September, weeks after three directors left amid the solar panel maker's efforts to restructure its debt.

Suntech's Chinese lenders dragged its unit Wuxi Suntech into insolvency proceedings after it defaulted on $541 million in bonds after the business was hit by a glut in solar panels.

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Epic: Tamar Braxton Flies Flag For R&B Live At iTunes Festival (Full Performance)

‘What’s up iTunes, who’s ready to get slayed?‘.

With sales that make her one of the last decade’s fastest selling R&B entertainers, and a credibility factor that’s seen her win fans from all walks of life, Tamar Braxton‘s run at the top is truly a sight to behold.

Now, as her new single ‘The One’ gears up to dominate British radio in the coming week, the Grammy hopeful made her way to London’s ‘Roundhouse’ to perform at the iTunes Festival, serving a showing that stands as nothing short of phenomenal…proving that when it comes to live skills, very few do it better than her.

LQ footage courtesy of YouTuber Ashley Williams below!

Keep it locked on TGJ for HQ footage in the coming hour!

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Russian court remands last of Greenpeace Arctic oil protesters

* Russian court extends detention of 8 activists

* 30 people accused of piracy, could face years in jail

* Greenpeace sees no signs of Kremlin shifting position

By Alexei Anishchuk

MOSCOW, Sept 29 (Reuters) - A Russian court has ordered eight remaining Greenpeace activists be held in custody for two months over a protest against Arctic offshore drilling, the environment advocacy group said on Sunday, dashing any hope some might be released quickly.

Authorities detained all 30 members of the pressure group who were aboard icebreaker the Arctic Sunrise when they broke up attempts to scale state-run Gazprom's Prirazlomnaya offshore oil platform on Sept. 18.

Of those, 22 people, including a freelance photographer and crew members had already been remanded until Nov. 24 while officials investigate charges of piracy which Greenpeace denies.

Piracy is punishable with up to 15 years of jail in Russia, although President Vladimir Putin said last week that the activists were clearly not pirates but had broken international law, suggesting they might end up facing less severe charges.

Greenpeace, which has described court proceedings as reminiscent of Soviet-era scare tactics, sees little sign of a shift from the Kremlin.

"From what we are seeing today in court in Murmansk, where eight more people were ordered to be held in custody for two months, nothing has altered the position of the authorities," head of the group's energy unit Vladimir Chuprov said in emailed comments.

"There was no assault, it was a peaceful protest of which (we) had warned the authorities," one of the activists, Dmitry Litvinov, told the court from an iron cage in a Murmansk courtroom.

Finnish activist Sini Saarela, one of the two people attempting to climb the platform, denied the charges of piracy.

"I am not a pirate," she said in the courtroom according to a Greenpeace Twitter account, @gp_sunrise. "Drilling for oil in ice is a tremendous threat to the environment all over the world."

Greenpeace says scientific evidence shows any oil spill from Prirazlomnaya would affect more than 3,000 miles (4,800 km) of Russia's coastline.

Russia sees the Arctic as its vital area of economic interest and Putin has promised to increase Russia's military presence in the region. (Reporting by Alexei Anishchuk; editing by Patrick Graham)

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Must Hear: Katy Perry – ‘Walking On Air’

Just when we thought we couldn’t love Katy Perry anymore than we already did…she goes and does this.

This, being the release of her ‘Prism’ pulled single ‘Walking On Air‘, which we’re going to be bold enough to call this one of the best singles (from any genre) to drop this year.

At this point, we’d usually explain why this is- but since we’re too busy pre-ordering ‘Prism’ on iTunes, we simply don’t have the time to.

Find out why everyone here at TGJ HQ is enamoured with this jam below!!

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IKEA to sell solar panels from all UK stores

LONDON, Sept 30 | Sun Sep 29, 2013 7:01pm EDT

LONDON, Sept 30 (Reuters) - IKEA, the world's biggest furniture retailer, is to sell solar panels at its British stores, the first time it has offered the devices and marking an attempt to tap growth in the heavily subsidised green energy market.

The Sweden-based company, best known for cheap basics such as its Billy bookcases and Ektorp sofas, plans to offer solar panel packages at all of its 17 British stores within the next 10 months.

It said the move follows a successful pilot project at its Lakeside store to the east of London, which sells one photovoltaic (PV) system almost every day.

Britain offers subsidies to encourage the takeup of PV panels - which harness the power of sunlight and transform it into electricity - in a bid to boost greener energy production and help it meet legally-binding targets to cut carbon emissions.

A solar panel owner receives subsidies for generating solar-sourced electricity as well as exporting excess power into the grid. An average semi-detached house with a south-facing roof would earn as much as 770 pounds ($1,200) a year through subsidies and savings on energy bills, an IKEA case study showed.

IKEA's offer of panels made by China's Hanergy Holding Group Ltd, a power producer and manufacturer of thin-film PV panels, involves a minimum spend of 5,700 pounds for which customers get 18 panels which should break even within roughly seven years.

"We know that our customers want to live more sustainably and we hope working with Hanergy to make solar panels affordable and easily available helps them do just that," said Joanna Yarrow, IKEA's head of sustainability in the UK and Ireland.

Britain's solar market is small compared with green energy leaders such as Germany and Spain, but it has posted regular growth, with year-on-year installations rising 25 percent in September to 1.7 gigawatts.

IKEA customers will receive a package that includes in-store consultation, installation and maintenance of the panels, which are made in Germany.

The Swedish company has its own ambitious clean energy target, aiming to source at least 70 percent of the group's energy needs from wind and solar power by 2015 and 100 percent by 2020.

IKEA already owns wind farms in various European countries and has placed solar panels on its stores, warehouses and factories. Hanergy Holding controls Hong Kong-listed Hanergy Solar.

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Australia shares see biggest one-day drop in 7 weeks on U.S. fiscal crisis

(Adds analysis, quotes, stocks on the move)

SYDNEY, Sept 30 (Reuters) - Australian shares slid 1.3 percent from five-year highs on Monday, their biggest one-day drop since early August, after Wall Street fell on concerns over looming fiscal deadlines.

The Big Four banks lost ground in a broadbased sell-off. Westpac Banking Corp lost 1.5 percent while Australia and New Zealand Banking Group dropped 1.6 percent.

Analysts said that despite a fall in the session, the banks were trading close to fair-value estimates, driven by growing profits and dividends.

The S&P/ASX 200 index fell 70.4 points to 5,236.7 by 0155 GMT, its biggest one-day fall since August 7. The benchmark edged 0.2 percent higher on Friday to hit a five-year high.

The local bourse took its lead from U.S. stocks, which declined on Friday, with the S&P 500 and Dow posting their first weekly drop in four, as Democrat and Republican lawmakers struggled to agree an emergency funding bill to avert a U.S. government shutdown that could start on Tuesday.

President Barack Obama warned the U.S. Congress against a government shutdown as lawmakers wrangled over the bill that some Republicans want to use to defund Obama's healthcare reform law.

A handful of defensives also lost ground with blood products maker CSL Ltd tumbled 1.6 percent and top telecommunications giant Telstra Corporation Ltd shed 0.7 percent. Consumer staples retailer Wesfarmers Ltd lost 1.1 percent.

However, a lift of around 1 percent in gold prices helped cap broader losses as investors sought safe-havens, driven by a possible shutdown of U.S. government operations. Newcrest Mining Ltd climbed 1.7 percent while Medusa Mining Ltd rallied 2.5 percent.

"The Australian and New Zealand share market is trading around fair value following recent strong gains," said Andrew Doherty, head of equities at research investment firm Morningstar, in a note to clients.

"The Australian economy is softening but the platform is in place for mild recovery during 2014, helped by low interest rates and improving consumer confidence."

Elsewhere, China's factory sector grew in September, suggesting Asia's economic powerhouse is starting to turn the corner, though a firm rebound remains elusive, further dampening sentiment on the local benchmark index.

OZ Minerals Ltd jumped 3 percent to A$4.54, but fell from early highs as the copper miner said it had not been approached by Glencore Xstrata with any proposal after a British newspaper said Glencore was weighing a 750 million pound ($1.2 billion) bid.

Mirabela Nickel Ltd slumped 28 percent to all-time lows of A$0.02 after credit ratings agency Moody's placed its CAA1 rating on review for a downgrade and after the company said its sales agreement with Votorantim will terminate at the end of November.

New Zealand's benchmark NZX 50 index fell 0.8 percent or 37.5 points to 4,745.2.

(Reporting by Thuy Ong; Editing by Eric Meijer)

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Ineos unveils Grangemouth 'survival plan' with job, pension cuts

LONDON, Sept 30 | Mon Sep 30, 2013 9:41am EDT

LONDON, Sept 30 (Reuters) - Ineos announced what it described as a "survival plan" on Monday to keep in operation the petrochemical plant attached to its refinery in Grangemouth, Scotland, which involved cutting jobs and changing the pension plan to reduce costs.

The company said the plant has been losing 10 million pounds ($16.1 million) per month and that its pension scheme has a 200 million pound deficit.

"The current business is unsustainable. We have worked incredibly hard to put together a survival plan that asks something of everyone," Calum MacLean, chairman of both Grangemouth Petrochemicals and Grangemouth Refining, said in a statement.

"If everyone agrees to it, Grangemouth has a future. If not, Grangemouth Petrochemicals will close."

The plan comes as the company is already in dispute with the Unite union, whose members voted last week to strike due to a disciplinary matter involving an employee at the plant.

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Hot Shots: Frank Ocean Sizzles For ‘Oyster’ Magazine

 Peep these snaps of ‘American Wedding’ crooner Frank Ocean, heating up to dangerous levels in his spread for ‘Oyster Magazine‘.

Released earlier this month, the Nabil directed shoot comes as the entertainer wraps up work on his second studio album, and stands as one half of a double cover. The second, graced by ‘Change Your Life’ Rapper Iggy Azalea, now available to peep here!

Want to see more of Mr.Ocean?

Check him out below…

#NowPlaying: Anita Baker – ‘Caught Up In The Rapture’….

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Brent falls below $108 on U.S. jitters, Iran

* U.S. govt faces shutdown on funding impasse

* Obama, Iran's Rouhani hold historic phone call

* U.N. Security Council approves resolution to rid Syria of chemical arms

* China economic outlook improves; firm rebound elusive

By Florence Tan

SINGAPORE, Sept 30 (Reuters) - Brent crude slipped below $108 a barrel on Monday and was on track for its first monthly drop in four months, as tensions over Iran eased and as a potential U.S. government shutdown clouded the outlook for demand.

Republicans and Democrats are locked in an impasse over funding which could see the U.S. government shut for the first time in 17 years.

Brent crude had fallen 80 cents to $107.83 a barrel by 0254 GMT, set for a 5.5-percent drop in September. U.S. crude was down $1.20 at $101.67 a barrel, after earlier slipping to its lowest in nearly three months at $101.45.

A potential strike at the Grangemouth refinery in Scotland could disrupt the North Sea crude supplies that underpin Brent, curbing losses in the European benchmark.

"The key driver across commodities is the U.S. budget," said Timothy Radford, an analyst at investment firm Rivkin in Sydney.

"A lot of risk assets have downward pressure placed on them unless we see some resolution (in the United States)."

Oil fell alongside other commodities and equities as investors shifted towards safe havens such as the Japanese yen and Swiss Francs ahead of the funding deadline at midnight on Monday. The euro also weakened against the U.S. dollar as the Italian government teetered on the edge of collapse.

Elsewhere, major commodity-consumer China is starting to turn the corner though a firm rebound remains elusive. Domestic orders proved to be weaker than preliminary estimates suggested, a private survey showed.

A rise in Libya's oil output and easing tensions over Syria and Iran have also weighed on crude prices.

U.S. President Barack Obama and new Iranian President Hassan Rouhani spoke by telephone on Friday, the highest-level contact between the two countries in three decades and a sign that they are serious about reaching a pact on Tehran's nuclear programme.

"The fact that both presidents have spoken is quite a big breakthrough," Radford said. "That's quite positive in the reduction of tensions between Iran and the U.S., although it's negative for oil prices."

The U.N. Security Council agreed on a resolution to eradicate chemical weapons in Syria on Friday, averting punitive U.S. military action against Syrian President Bashar al-Assad's government.

In Libya, crude exports have risen above 580,000 barrels per day after western fields reopened this month, but oil export facilities in the east remain closed by protesters, a senior oil official said on Friday.

(Reporting by Florence Tan; Editing by Joseph Radford)

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Lorde: ‘I Identify With Nicki Minaj’

As she continues work on her third studio album alongside Pharrell Williams, Nicki Minaj has found herself on the receiving end of love, signed sealed and delivered by ‘Royals’ star Lorde.

Find out why the ‘Tennis Court’ belle cites the Rapper as one of her biggest inspirations, below…

In a penned for New Zealand‘s Sunday Star Times, Lorde shared:

“Lots of people ask me if being a female in the music industry is difficult. I think in some ways it is. Nicki Minaj spoke in this brilliant video that you should all watch, taken while she applied her eyeliner, about sexism in the industry. Nicki complained about the poor quality of a photo-shoot, and received this wave of aggression and insult. 

“If I am assertive, I’m a bitch. If a man is assertive, he’s a boss. No negative connotation behind bossed up!” Truth is, if Nicki doesn’t complain about a bad photo-shoot, people working with her assume those low standards are acceptable, but if she does complain it’s very hard for her not to be pegged as a diva, which I think is one of those music industry double standards that has hung around far too long.

I identified with her so strongly when I saw that video – I know what it’s like to walk on set and demand something of quality, and feel people thinking, ‘Oh, we’ve got a piece of work here.’ That’s just me trying to protect my image and my name. I sometimes think if I were a male musician, the reaction to such a basic request would be different.

There’re parts of this industry that are ******, for sure. I’ve missed more birthdays this year and let more friends down than I can count; I’ve grown accustomed to 4am wake-up calls and sleeping on command; sometimes my boyfriend and I get photographed in the street when we just want to have time that doesn’t belong to other people.”

 Lorde‘s debut album ‘Pure Heroine‘ hits stores October 9th!

Source.

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Iran's foreign minister says nuclear enrichment is not negotiable

WASHINGTON, Sept 29 | Sun Sep 29, 2013 2:45pm EDT

WASHINGTON, Sept 29 (Reuters) - Iran's foreign minister said on Sunday the country's right to peaceful nuclear enrichment was not negotiable in talks with the United States but it does not need to enrich uranium to military-grade levels.

Iranian Foreign Minister Mohammad Javad Zarif said Iran was willing to open its nuclear facilities to international inspections but the United States must end economic sanctions as part of any deal on Iran's nuclear program.

Speaking in the midst of an intensified effort to resolve the dispute over Iran's nuclear program, Zarif said he could see a "real chance" for agreement with the United States.

"Negotiations are on the table to discuss various aspects of Iran's enrichment program. Our right to enrich is non-negotiable," Zarif told ABC's "This Week" program.

Iran consistently has defended its right to enrich uranium as part of a civilian nuclear energy and medicine program, but the United States and its allies have sought an end to higher-grade uranium enrichment that could be a step away from the production of weapons-grade material.

"We do not need military-grade uranium. That's a certainty and we will not move in that direction," Zarif said. "Having an Iran that does not have nuclear weapons, is not just your goal, it's first and foremost our goal."

U.S. President Barack Obama and Iranian President Hassan Rouhani spoke by telephone on Friday in the highest-level contact between the two countries in three decades. It was the culmination of a recent, dramatic shift in tone between Iran and the United States, which cut diplomatic relations a year after the 1979 Iranian revolution.

Obama has said for years he was willing to have direct contact with Iran while also stressing that all options - including military strikes - were on the table to prevent Iran from building a nuclear bomb.

But Zarif said Iran was willing to have its facilities visited by international inspectors to prove it was not seeking a nuclear bomb.

"If the United States is ready to recognize Iran's rights, to respect Iran's rights and move from that perspective, then we have a real chance," Zarif said.

"We are willing to engage in negotiations. The United States also needs to do things very rapidly. One is to dismantle its illegal sanctions against Iran," he said.

Zarif said there has been 34 years of "mutual distrust" between Iran and the United States but both sides should begin removing some of that distrust through talks.

(Reporting by John Whitesides; Editing by Eric Beech)

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Lorde Shares Thoughts On Selena Gomez / Slams ‘Come & Get It’

 As she continues to welcome the kind of critical acclaim many a star could only dream of, Lorde has shared her thoughts on Pop sensation Selena Gomez.

What she said on the Disney star?

Find out below…

In a recent interview arranged to promote her #1 single ‘Royals’, the teen sensation shared:

“I love pop music on a sonic level. But I’m a feminist and the theme of her song [Come & Get It] is, ‘When you’re ready come and get it from me.’ I’m sick of women being portrayed this way.”

Source.

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New Album: Miley Cyrus – ‘Bangerz (Snippets)’

Before its October 8th arrival, Miley Cyrus’ ‘Bangerz‘ teases its potential audience tonight with the release of its snippets.

Showcasing what fans what can expect from the hotly anticipated release, fans may be pleased to learn the star’s duet with Britney Spears stands as one of the number’s featured…awaiting your first spin below!

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RPT-Oman looks beyond Iran sanctions for gas lifeline

* Oman laying political foundations for future gas imports

* Sanctions, price disagreement, technical challenges big hurdles

* Iran liquefied natural gas exports from Oman unlikely

By Daniel Fineren

DUBAI, Sept 29 (Reuters) - If Iranian President Hassan Rouhani's dream of reaching a deal with world powers on Tehran's nuclear program in six months comes true, Oman, an important intermediary in the dispute, could be a big winner.

There have been too many false dawns in Iran's decade-old standoff with the West over Tehran's nuclear programme to bank on Rouhani's call in New York last week for a deal within 3-6 months.

But in the weeks leading up to Rouhani's first foreign trip since he became president in August, Omani officials have been visiting Tehran in a bid to buy Iranian gas in the hope that some day sanctions on Iran will be lifted and Oman can finally get the supplies it desperately needs over the Strait of Hormuz.

Iran sits on the world's largest reserves of gas and Oman has been trying to buy some of it since 2005 to feed energy intensive industries and liquefied natural gas (LNG) export plants planned before it cut its own reserves estimate.

Price disagreements, Western sanctions that have stunted Iranian energy projects and U.S. pressure on Oman to find other suppliers have prevented any real progress with the pipeline project since then.

But Oman is ahead in a queue like that which formed at Myanmar's door as sanctions against the southeast Asian state were eased.

Muscat has moved quickly to cement ties since the election of moderate Iranian President Hassan Rouhani improved long-term trade prospects, with Oman's Sultan Qaboos Bin Said the first head of state to meet Rouhani after his inauguration in early August.

On that trip, the two countries' energy ministers signed a gas supply agreement that Iran's energy minister valued at $60 billion over 25 years, which would be by far the biggest trade deal between the two neighbours, if any gas ever flows between them.

"The new government of Iran has a different approach. We are very optimistic that all the political issues between Iran and the West, particularly, will be resolved," Oman energy minister Mohammed bin Hamad Al Rumhy told Reuters in early September after signing the gas deal in late August.

"This is our wish in Oman and we're working towards it... The feeling in Oman is that things are changing."

Sunni Gulf Arab leaders have tense relations with Shi'ite Tehran, but Sultan Qaboos has been on relatively good terms during his 43-year reign. He met Iranian Foreign Minister Mohammed Javad Zarif and top Iranian military officials on his latest trip, and his defence minister signed a military cooperation deal in Tehran in mid-September, Oman's state news agency reported.

Oman is a close U.S. ally and has acted as a go-between for Tehran and Washington in the dispute over Iran's nuclear programme, according to U.S. embassy cables published by Wikileaks dating back to 2006. Tehran dismisses Western suspicions it plans a bomb, saying its nuclear aims are purely peaceful.

U.S. officials have been warning that building a gas pipeline to Iran would likely be in violation of sanctions since an early trade deal was signed in 2007, according to U.S. Embassy cables published by Wikileaks.

Although the political environment has improved since Rouhani came to power, sanctions remain firmly in place and any company involved in the project would probably be in violation of them, a Western diplomatic source said.

GAS SHORTAGES

The U.S. ambassador to Oman wrote in a Sept. 15, 2008 cable published by Wikileaks that his office would "continue to remind relevant officials as appropriate of the potential applicability of the Iran Sanctions Act," but noted that "Oman's urgent need for new gas supplies and dearth of potential suppliers severely limits receptivity to our message".

Oman started importing Qatari gas through a pipeline across the United Arab Emirates in 2007. But it was not enough. A U.S. embassy cable dated May 6, 2009, quoted Minister Rumhy saying gas imports from Iran were "necessary and inevitable" because Qatar and Saudi Arabia had turned down his supply requests.

The U.S. embassy and Oman energy ministry in Muscat declined to comment on the latest gas deal but the Western diplomatic source said it had not been done with U.S. approval, despite a brighter outlook on relations with Tehran.

A U.S. official in Washington said: "U.S. concerns have been conveyed to Oman," but did not elaborate.

Oman's ever-growing gas appetite has already taken a bite out of its potential LNG exports and unless it can find a lot more feedstock those exports could dry up altogether over the next decade, analysts say.

Iranian officials have said they expect gas exports to Oman to start in under two years, but Rumhy has said it is unlikely construction of the physically challenging subsea pipeline could even start in that time.

His talks with Iran coincide with continuing negotiations to finalise British energy company BP's Khazzan project to extract hard-to-reach gas in Oman that could supply around 1 billion cubic feet a day by 2018.

Oman will still need more imports in the longer term, so it makes strategic sense to do the political groundwork even if sanctions hold back progress.

"Given the recent changes in the political leadership in Iran, this is good time to start working towards a mutually beneficial agreement," Richard Quin, Lead Analyst Middle East & North Africa Upstream Research at consultants Wood Mackenzie in Edinburgh, said.

"The advantage of this being a long term play is that it allows time for geopolitical challenges that exist between Iran and the rest of the world to make some kind of material progress."

MANY OBSTACLES

Tehran has signed deals to supply gas to Pakistan, Iraq and Oman, but Iran's own voracious gas appetite has made it difficult to meet existing sales commitments with Turkey and forced Iran to import gas from Turkmenistan.

Delays to an overland link to Pakistan highlight the financial and political obstacles to any such project as long as Tehran is in Washington's bad books.

The Oman route has not yet been decided. But the options available are all technically challenging for a country that has only ever laid relatively short pipelines in the shallow waters of the Gulf.

Iranian hopes of using spare capacity at Oman LNG export plants to ship Iran's gas to a global market are even more distant dreams, analysts say, because sanctions-wary Western companies hold shares in them.

The biggest obstacle could be reaching agreement on the value of Iran's gas. Gas prices in Oman are fixed at below the costs of most producers and even after planned rises in the next few years, are set to remain well below international levels.

The LNG part of the project would improve the economics from an Iranian perspective, because it could open access to the markets of east Asia which currently pay five times more for gas.

But analysts say it is hard to see Oman's LNG project partners agreeing terms with Tehran, and unless Iran agrees to supply gas to Oman at a price below the low levels set in long-term LNG export deals Oman has signed, they say it would make more economic sense for Oman to stop exports of LNG instead.

"(The) big questions - much more important than sanctions and the technical side - are what would the price be, and does Iran have any gas to export?" said Jonathan Stern, head of gas research at the Oxford Institute for Energy Studies.

"History is littered with Iranian regional gas pipeline schemes which come to nothing; this is a revival of one of them and I doubt it will make any progress."

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Siemens' new CEO riles labour reps with news of job cuts

* Works council chief opposes margin-driven move

* Says Siemens needs people-focused, sustainable programme

* Comments come after weekend news of 15,000 job cuts

* Cuts are part of Siemens' existing savings programme

MUNICH/FRANKFURT, Sept 30 (Reuters) - Weekend news of 15,000 job cuts at Germany's Siemens has put the German engineering group's new chief executive, Joe Kaeser, on a collision course with workers' representatives only two months after he took the helm.

"We oppose a margin-driven job-cutting programme. Siemens needs a sustainable and future-oriented programme that focuses on people and not just on margins," works council chief Lothar Adler said on Monday.

Siemens, Germany's second-biggest company by market value, aims to save 6 billion euros ($8.1 billion) to close the gap with more profitable rivals such as U.S.-based General Electric and Switzerland's ABB.

It had so far declined to say how many jobs would go as part of the programme, announced under former CEO Peter Loescher, who was ousted and replaced by Kaeser following a fierce boardroom battle two months ago.

On Sunday, a company spokesman told Reuters that Siemens would shed an overall 15,000 jobs, or about 4 percent of its overall workforce, half of which were already gone.

A third of the job cuts are in Siemens' German home market. Of those, 2,000 are to be at the industrial products business, and 1,400 jobs each in the energy and infrastructure businesses.

Kaeser faces the challenge of whipping into shape a lumbering conglomerate with almost 370,000 workers, 78 billion euros of annual sales and products ranging from gas turbines to high-speed trains and ultrasound machines, as well as regaining investor confidence.

When he took office, he said he would continue his predecessor's savings programme, but also vowed to put Siemens back on an "even keel", end years of continual restructuring and do away with a focus on short-sighted margin targets.

Under Loescher, Siemens announced the massive savings programme and said it aimed to push up the margin on its core operating profit to at least 12 percent from 9.5 percent by 2014. It was forced to abandon that target in June as its main markets remained weaker than expected.

"This (savings) programme neither reached the target of increasing Siemens' margin in the short term nor does it appear that the goal of improving complicated processes has seriously been tackled," deputy works council chief Birgit Steinborn said.

In the first nine months of its financial year, which ends on Monday, Siemens' profit margin shrank to 5.7 percent due to project charges and weak demand for industrial products such as automation and drive technologies.

Kepler Cheuvreux analyst Hans-Joachim Heimbuerger affirmed his "buy" recommendation on Siemens stock and said the headcount reduction would help the company improve its operating profit per employee compared with rivals.

In its last quarter, Siemens' operating profit per employee stood at 2,728 euros, about 13 percent below ABB and 70 percent below GE.

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Kerry sees potential for quick Iran nuclear deal

(Incorporates IRAN-NUCLEAR/ZARIF)

WASHINGTON, Sept 29 (Reuters) - U.S. Secretary of State John Kerry said a deal on Iran's nuclear weapons program could be reached relatively quickly, and it would have the potential to dramatically improve the relationship between the two countries.

Kerry said intensifying diplomatic efforts to resolve the dispute over Iran's nuclear program could produce an agreement within the three- to six-month time frame that Iranian President Hassan Rouhani has called for.

"It's possible to have a deal sooner than that depending on how forthcoming and clear Iran is prepared to be," Kerry said in an interview aired on CBS's "60 Minutes" on Sunday.

"If it is a peaceful program, and we can all see that - the whole world sees that - the relationship with Iran can change dramatically for the better and it can change fast," he said.

Rouhani and U.S. President Barack Obama spoke by telephone on Friday in the highest-level contact between the two countries in three decades, raising hopes of a breakthrough in Western efforts to prevent Iran from building a nuclear bomb.

The call was the culmination of a recent, dramatic shift in tone between Iran and the United States, which cut diplomatic relations a year after the 1979 Iranian revolution.

Kerry said Iran could prove its sincerity by immediately opening its nuclear facilities to inspections and keeping its uranium enrichment efforts at lower grades that were not suitable for military use.

Iran has defended its right to enrich uranium as part of a civilian nuclear energy and medicine program and denied that it aims to develop atomic weapons, but the United States and its allies have sought an end to higher-grade uranium enrichment that could be a step away from the production of weapons-grade material.

"Iran needs to take rapid steps, clear and convincing steps, to live up to the international community's requirements regarding nuclear programs, peaceful nuclear programs," Kerry said.

"Words are not going to replace actions," he said. "What we need are actions that prove that we and our allies, our friends in the region, can never be threatened by this program."

In a separate interview, Iran's foreign minister said the country's right to peaceful nuclear enrichment was not negotiable but it did not need to enrich uranium to military-grade levels.

Iranian Foreign Minister Mohammad Javad Zarif said Iran was willing to open its nuclear facilities to international inspections as part of a nuclear deal as long as the United States ended painful economic sanctions.

"Negotiations are on the table to discuss various aspects of Iran's enrichment program. Our right to enrich is non-negotiable," Zarif told ABC's "This Week" program.

"We do not need military-grade uranium. That's a certainty and we will not move in that direction," Zarif said. "Having an Iran that does not have nuclear weapons, is not just your goal, it's first and foremost our goal."

Zarif said Iran was willing to have its facilities visited by international inspectors to prove it was not seeking a nuclear bomb.

"If the United States is ready to recognize Iran's rights, to respect Iran's rights and move from that perspective, then we have a real chance," Zarif said.

"We are willing to engage in negotiations. The United States also needs to do things very rapidly. One is to dismantle its illegal sanctions against Iran," he said.

Kerry said the sanctions could be lifted after an agreement was in place that ensured Iran's nuclear program was peaceful.

"The United States is not going to lift the sanctions until it is clear that a very verifiable, accountable, transparent process is in place, whereby we know exactly what Iran is going to be doing with its program," he said. (Reporting by John Whitesides; Editing by Eric Beech and Paul Simao)

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Watch: Nicki Minaj Unveils ‘Minajesty’ Fragrance Commercial (Directed By David LaChapelle)

After working alongside her to shoot her MAC VIVA Glam campaign, David LaChapelle turns up the creative heat for Nicki Minaj once again this year. This time, for her brand new fragrance ‘Minajesty‘.

Making its debut on ‘Ellen’ yesterday, the ad sees the ‘Last Chance‘ darling unleash the power within and find her very own Queendom- giving fans ample to reason to hope the videos in her upcoming era are just as stellar.

Believe us when we say this ad is a must see!

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Watch: Alvester Martin Covers Bruno Mars’ ‘Locked Out Of Heaven’

He’s the 25 year old R&B crooner with fans that include Beyonce, Rihanna & ‘Hot Sugar’ darling Tamar Braxton, and now- as he readies the release of his debut album next year- Alvester Martin takes on Bruno Mars’ smash hit ‘Locked Out Of Heaven‘.

You’ve seen him dance here, now watch him roar below…

Peep Martin in action with Mariah Carey below!

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Rihanna Covers ‘Glamour’

Cop a gander of Rihanna!

The popular singles artists serves a fierceness her voice cannot on the November 2013 cover of Glamour magazine.

Reportedly readying new material, the 25-year-old has been busying herself on Diamonds World Tour – which set sail earlier this year to lukewarm reviews from critics and cultural commentators.

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Lady GaGa Unveils New ‘ARTPOP’ Promo Pic

With the release of Lady GaGa‘s new album ‘ARTPOP’ drawing ever-nearer, the chart titan continues to drip-feed fans with new visuals from the hotly anticipated set.

The latest was unwrapped this morning and, like most things “GaGa”, is sure to set tongues wagging. We’re not sure what we’re looking at, but it’s GaGa – when are we ever?! Gotta love her.

‘ARTPOP’ arrives November 11th.

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Katy Perry Opens Up On Suicidal Thoughts : ‘I Asked Myself If I Should Continue Living’

 Katy Perry may be celebrated for her ever upbeat nature, but she has now revealed her divorce from British comedian Russell Brand forced her to contemplate suicide, revealing this during an interview with Billboard.

An honest Katy below…

An excerpt from the piece reads:

“But it’s not always party time on “PRISM.” Self-help and astrological references abound on tracks like “Spiritual” and “Legendary Lovers,” reflecting Perry’s recent immersion in Transcendental Meditation and mindfulness therapy. Elsewhere, Perry pointedly confronts her turbulent recent history. The line “You sent a text/It’s like the wind changed your mind” from “Ghost” references how Brand delivered the news he wanted a divorce.

“By the Grace of God,” meanwhile, begins with Perry lying on the floor of a bathroom, fighting suicidal thoughts. “That song is evident of how tough it really was at a certain point. I asked myself, ‘Do I want to endure? Should I continue living?’” Perry says. “All the songs are real-life moments. I can only write autobiographically. I put all the evidence in the music. I tell my fans if they want to know the real truth about stuff, just listen to the songs.”

Source.

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‘Beyonce Approved’: Alvester Martin Covers Kendrick Lamar’s ‘Swimming Pools’

With a voice that oozes nothing but pure soul, Alvester Martin stands proud as one of the industry’s best kept secrets…until now.

A Miami native, the last decade has seen the performer rock many a TV screen via back up dancer gigs for the likes of Beyonce, Rihanna and Tamar Braxton, and now- aged just 25- the entertainer steps into his own light with the launch of a Beyonce backed solo career.

Is he any good?

Peep his ‘Wasted’ take on  Kendrick Lamar‘s ‘Swimming Pools’ and please let us know what you make of him below!!

Think you’ve got an eye for people spotting? Press play and tell us where you see Martin in the clip below!

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Watch: Beyonce Annihilates Competition With New ‘Run The World’ Performance

Fact: Beyonce is the best entertainer to grace the world of music since Michael Jackson.

Disagree? Well, that’s just too bad – and you’re probably better off not peeping the killer set put on by the star during the Monterrey showing of her ‘Mrs.Carter Show‘ world tour.

Why the likes of Rihanna consider her their biggest inspiration?

Watch below!

‘Party’:

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Lady Gaga Denies Rihanna Collabo Rumors / Readies Two Versions of ‘ArtPop’?

Just one day separates pop diva Lady Gaga from the final version of her highly anticipated new album ‘Artpop’, due in stores November 11th.

Led by the thunderous single ‘Applause’, the song’s performance on charts already has fans quizzing the Mother Monster on its follow-up as well as the list of guest stars to be expected on the album.  One name that has plagued the rumor mill is that of ‘What Now’ wailer Rihanna.

The Barbadian beauty sent the mill into overdrive after taking to Twitter to announce:

Just left the studio… Recorded a #monster hook for one of my favorite artists! And that’s all I can give you… #NavyShit — Rihanna (@rihanna) September 11, 2013

But, if a recent radio interview with the ‘Poker Face’ performer is anything to go by, fans shouldn’t be expecting to hear the pop titans collab anytime soon:

Conversation highlights:

1:52 – Two versions of ‘Artpop’

4:00 – On being inspired by singer Selena (Quintanilla)

 5:00 – Next single?

5:48 – Rihanna on ‘ARTPOP’?

*****

It’s all in the phrasing of the question.  Gaga may have denied Rihanna’s guest appearance on ‘Artpop’, but she never denied her appearance on Ri’s forthcoming effort (or any collab in general).

Time will tell.

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