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EU Approves Mechanisms for Electricity Supply in Belgium, France, Germany, Greece, Italy, Poland

EU Approves Mechanisms for Electricity Supply in Belgium, France, Germany, Greece, Italy, Poland

Σαβ, 10 Φεβρουαρίου 2018 - 18:29

The European Commission said on Wednesday that the EC has approved under EU State aid rules electricity capacity mechanisms in Belgium, France, Germany, Greece, Italy, and Poland. The Commission said in a press release that the EC found that the measures will contribute to ensuring the security of supply whilst preserving competition in the Single Market

Is the Trans-Caspian Gas Pipeline Really Important for Europe?

Is the Trans-Caspian Gas Pipeline Really Important for Europe?

Παρ, 9 Φεβρουαρίου 2018 - 18:25

The energy-rich Central Asian nation of Turkmenistan ranks fourth globally in terms of asserted natural gas reserves with around 50 trillion cubic metres (tcm), according to the latest announcements of the state energy company Turkmengaz

EIB to Finance Reserve Oil Stocks in Cyprus

EIB to Finance Reserve Oil Stocks in Cyprus

Τρι, 6 Φεβρουαρίου 2018 - 19:08

The European Investment Bank (EIB) has agreed the first infrastructure project in Cyprus under the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, the European Commission said in a press release on February 2

EU 2016 Energy Consumption 4% Off 2020 Efficiency Goal

EU 2016 Energy Consumption 4% Off 2020 Efficiency Goal

Τρι, 6 Φεβρουαρίου 2018 - 19:07

Primary energy consumption in the EU in 2016 was 4 percent off the efficiency target set for 2020, Eurostat announced on Monday. The statistical office of the EU said the union is committed to reducing energy consumption by 20 percent by 2020 compared to projections, also known as the 20 percent energy efficiency target

Greeces Public Power Corp. Eyes Expansion in Turkey

Greece's Public Power Corp. Eyes Expansion in Turkey

Τρι, 6 Φεβρουαρίου 2018 - 19:06

Greece's Public Power Corp. (PPC) aims to expand its investments in Turkey, the company's chairman Manolis Panagiotakis said Tuesday. The country's major power utility has an 85 percent share in the retail market, but agreed to reduce its share below 50 percent from 2020 as part of the country's bailout terms with the EU

BP Makes Two Discoveries in UK North Sea

BP Makes Two Discoveries in UK North Sea

Πεμ, 1 Φεβρουαρίου 2018 - 17:17

BP has made two new oil and gas discoveries in the UK North Sea, it said on Wednesday, giving new impetus to its plans to boost production in the ageing basin into the middle of the century. The new discoveries are also the latest bright spot for the North Sea after a number of large new fields started up in recent years, helping to reverse a long and gradual decline in output since the late 1990s

EU Commission Says Energy Poverty at ‘Unacceptable Level’

EU Commission Says Energy Poverty at ‘Unacceptable Level’

Πεμ, 1 Φεβρουαρίου 2018 - 17:16

The European Commission has launched a new EU Energy Poverty Observatory in an effort to tackle a visible problem across the EU. At an event in Brussels on January 29, Vice-President for Energy Union Maroš Šefčovič acknowledged that energy poverty “has reached an unacceptable level – not only in the poorer countries of the EU but also in the richer ones”

Romanias Electrica to Invest 900 Mln Lei (194 Mln Euro) in 2018

Romania's Electrica to Invest 900 Mln Lei (194 Mln Euro) in 2018

Τετ, 31 Ιανουαρίου 2018 - 11:35

Romanianpower supplier and distributor Electrica plans to invest 900 million lei ($241 million/ 194 million euro) in 2018, 24% more compared to last year. Investment activity will mainly focus on the rehabilitation and upgrade of the distribution networks in order to improve the quality of service and energy efficiency and reduce network losses by 40%, Electrica said in a statement filed with the Bucharest Stock Exchange on Monday

Turkeys Ipragaz Predicts Brent at Around $65 in 2018

Turkey's Ipragaz Predicts Brent at Around $65 in 2018

Τρι, 30 Ιανουαρίου 2018 - 19:23

Turkey's Ipragaz forecasts Brent oil prices to range between $65-$70 in the first half 2018 and below $65 per barrel in the second half of the year, the company's CEO Eyup Aratay said on Tuesday. Aratay told Anadolu Agency that Ipragaz expects a stabilized oil price graphic by the end of this year

Energean Israel, Stena Drilling in Development Contract for Karish Field

Energean Israel, Stena Drilling in Development Contract for Karish Field

Τρι, 30 Ιανουαρίου 2018 - 19:22

Greece’s Energean Oil & Gas said on January 29 that Energean Israel has signed a contract with Stena Drilling for the development drilling of the Karish Field, off the Israeli coast. According to an Energean press release, pursuant to the contract, Scotland-based Stena Drilling will deploy the Stena Forth drillship, or any other substitute per the agreement between the parties, to drill three development wells in the first quarter of 2019 with a provision made for further options that is subject to Energean’s Final Investment Decision (FID) regarding the Karish and Tanin fields

Eurogroup Gives Greece Conditional Green Light for Third Review Conclusion

Eurogroup Gives Greece Conditional Green Light for Third Review Conclusion

Τρι, 23 Ιανουαρίου 2018 - 19:19

Eurozone finance ministers approved a new €6.7 billion loan for Greece on Monday after Athens pushed through controversial reforms. The working group of EU finance ministers said, however, that disbursement is not possible until the Greek government fully follows through in adopting the final round of "prior actions” that international lenders have demanded before paying out new loans

Iraq to Supply 12 Million Barrels of Oil to Egypt

Iraq to Supply 12 Million Barrels of Oil to Egypt

Τρι, 23 Ιανουαρίου 2018 - 19:18

Iraq renewed a contract with Egypt to supply 12 million barrels of crude oil for one year, Iraq's Ministry of Oil announced on Monday. The Iraqi Ministry of Oil and the Egyptian Ministry of Petroleum agreed to renew the agreement starting from January 2018, which will be based on the same conditions as the former deal, Asim Jihad, spokesman of the Iraqi Oil Ministry, was quoted as saying