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Gazprom Says South Stream Gas Pipeline Agreement Dissolved

Gazprom Says South Stream Gas Pipeline Agreement Dissolved

Τετ, 20 Ιανουαρίου 2016 - 18:55

The agreement on the South Stream gas pipeline project has been dissolved, Gazprom reported on Wednesday. The South Stream project worth 15.5 bln euro implied annual supplies of 67 bln cubic meters of gas to Europe

Bulgarias South Stream Hopes Look Bleak - Stratfor

Bulgaria's South Stream Hopes Look 'Bleak' - Stratfor

Τρι, 19 Ιανουαρίου 2016 - 19:37

No matter how interested Bulgaria is in pursuing the South Stream project, the outcome looks bleak, Stratfor writes in an analysis of Russian gas infrastructure plans. There are certainly reasons Bulgaria and Russia might choose to return to South Stream. Firstly, Sofia "has remained open to the pipeline proposal", and secondly it has clearly stated its ambition to establish itself as a natural gas hub for Southeast Europe

Greek Refugee Arrivals Spike 2100% in January

Greek Refugee Arrivals Spike 2100% in January

Τρι, 19 Ιανουαρίου 2016 - 19:35

The European refugee crisis is getting worse as since the beginning of 2016, 31,244 migrants and refugees have arrived in Greece by sea. According to figures provided by the Greek Coast Guard, this is some 21 times as many as the 1,472 recorded by the Coast Guard for the whole of January 2015

Non-OPEC Output Falls But Oil Glut Threatens Through 2016 Says IEA

Non-OPEC Output Falls But Oil Glut Threatens Through 2016 Says IEA

Τρι, 19 Ιανουαρίου 2016 - 19:26

Exceptionally mild temperatures in the early part of the winter in Japan, Europe and the United States – alongside weak economic sentiment in China, Brazil, Russia and other commodity-dependent economies – saw global oil demand growth flip from a near five-year high in the third quarter of last year, at 2.1mi barrels per day (mb/d), to a one-year low in the fourth quarter of 1.0 mb/d, according to the IEA’sOil Market Report(OMR) for January

Oil Below the $30 Mark and Plunging

Oil Below the $30 Mark and Plunging

Δευ, 18 Ιανουαρίου 2016 - 18:40

Brent crude plunged another 4%, breaking another record and reaching 12 lows on Friday. That is now a drop in excess a 20% within January and little over 70% over the last 18-months. The average price for a basket of OPEC crudes on Friday, January 15th stood at $25 per barrel

Boyko Borissov: South Stream Is History; Balkan Gas Hub Is on Agenda Now

Boyko Borissov: South Stream Is History; Balkan Gas Hub Is on Agenda Now

Δευ, 18 Ιανουαρίου 2016 - 18:38

The South Stream gas pipeline project is history and the Balkan gas hub is on the agenda now and we must outline it is a priority of the European Commission, together with the gas interconnectors with neighboring countries, Bulgaria’s Prime Minister Boyko Borissov said on Wednesday in the country’s National Assembly

Denmark Breaks its Own World Record in Wind Energy

Denmark Breaks its Own World Record in Wind Energy

Δευ, 18 Ιανουαρίου 2016 - 18:36

Danish wind turbines set a new world record in 2015. Wind power is now counted for 42.1% of the total electricity consumption in Denmark, according to data published on Friday(15 January)

Delayed Oil Projects Total Nears $400bn

Delayed Oil Projects Total Nears $400bn

Παρ, 15 Ιανουαρίου 2016 - 17:41

Energy groups have shelved nearly $400bn of spending on new oil and gas projects since the crude price collapse, pushing back millions of barrels a day in future output from areas including the Gulf of Mexico, Africa and Kazakhstan

BP to Axe 4,000 Upstream Jobs in 2016

BP to Axe 4,000 Upstream Jobs in 2016

Παρ, 15 Ιανουαρίου 2016 - 17:38

BP plans to cut at least 4,000 staff and contractor jobs in its upstream division this year, as it eyes further cost savings in the lower oil price environment. "Overall, at a segment level we are planning an upstream organisation with a workforce of below 20,000 people by the end of 2016," BP upstream chief executive Lamar McKay told staff today. "I cannot say how far below 20,000 since the environment continues to change and weaken."

Turkish Diesel Oil Prices Fall for 2nd Time This Week

Turkish Diesel Oil Prices Fall for 2nd Time This Week

Παρ, 15 Ιανουαρίου 2016 - 17:36

Turkish diesel prices dropped by an average of 0.05 liras per liter on Friday, according to official figures. In the Turkish capital Ankara, diesel will be sold at 3.38 liras per liter, while prices dropped to 3.32 liras in Istanbul and 3.35 liras in Izmir

Statoil Acquires 12 pct Share of Swedish Lundin Petr.

Statoil Acquires 12 pct Share of Swedish Lundin Petr.

Παρ, 15 Ιανουαρίου 2016 - 17:35

Norwegian Statoil acquired around 12 percent share and votes of Swedish energy company Lundin Petroleum on Thursday. According to Statoil's announcement, the transaction fee is around $539 million (4.6 billion SEK). The company said the investment in Lundin Petroleum will increase its indirect exposure to core assets on the Norwegian Continental Shelf (NCS)

Electricity Consumption in Bulgaria Up 2.5% in 2015

Electricity Consumption in Bulgaria Up 2.5% in 2015

Τρι, 5 Ιανουαρίου 2016 - 18:13

Consumption of electricity increased in 2015, reversing a downward trend observed in the past four years, an official with Bulgaria's Electricity System Operator (ESO) has said. The Central Dispatching Unit of ESO is the unit coordinating regimes of the electricity system and providing for its smooth and efficient functioning, also in charge of organizing the electricity market

Islamic State Resumes Attack on Libyan Oil Port

Islamic State Resumes Attack on Libyan Oil Port

Τρι, 5 Ιανουαρίου 2016 - 18:11

Islamic State fighters resumed attacks on a key oil terminal in eastern Libya, setting a second tank on fire, a Libyan oil official said on Tuesday. The attacks stoked fears the North African country’s oil industry is the next target for the radical Islamist group. They came just weeks after representatives of Libya’s two rival governments signed a power-sharing agreement that called for the formation of a national-unity government by mid-January