English Edition

Oil Market Shakes Off Iran-Saudi Clash

Τρι, 5 Ιανουαρίου 2016 - 18:09

Iran-Saudi tensions fuelled oil prices at the start of 2016 but weak Chinese economic data capped the gains. The oil price rose in early trade on January 4 after Saudi Arabia’s execution of a dissident cleric enraged Iran and caused concern over supply by two of the world’s top oil producers. However, weaker-than-expected Chinese manufacturing data and falling Asian stock markets renewed worries about demand from the world’s second biggest oil consumer, limiting crude oil gains

Bulgaria's PM: Overgas Crisis Was Plot against Govt

Δευ, 4 Ιανουαρίου 2016 - 17:52

Bulgarian Prime Minister Boyko Borisov on Monday described recent developments related to private gas supplier Overgas as a "plot against the government". In an interview with private national bTV station, he warned shortage in gas supplies to Overgas and its customers as of January 01 could have "brought about a collapse of the entire energy network of the country and mass protests against the cabinet."

Iran-Saudi Crisis Most Dangerous for Decades

Δευ, 4 Ιανουαρίου 2016 - 17:49

Tensions have spiralled following the execution of Saudi cleric Nimr al-Nimr, the subsequent setting ablaze of the Saudi embassy in Tehran, and Riyadh's expulsion of Iranian diplomats. The struggle between Riyadh and Tehran for political and religious influence has geopolitical implications that extend far beyond the placid waters of the Gulf and encompass nearly every major conflict zone in the Middle East

First Crude Oil Shipment Exports From U.S. After 40 Year Ban Lifted

Δευ, 4 Ιανουαρίου 2016 - 17:46

The first crude oil shipment exported from the United States, after a 40 year ban, left from Corpus Christi, Texas last Thursday

Japan Switches Back to Nuclear Energy

Τετ, 30 Δεκεμβρίου 2015 - 17:04

Japan switched on its nuclear energy power plants. A major relief for the oil and gas industry that has seen prices tumble to 11-year lows was increased demand in Japan. Japan is about to reduce oil and gas imports for electricity production adding to the supply glut of the industry

Petroceltic Sheds Stakes, Mulls Sale

Τετ, 30 Δεκεμβρίου 2015 - 17:03

Petroceltic has opted to exit stakes in Greece and Egypt, following an announcement by the company's board that it has initiated a formal strategtic review of its business and assets due to breaching debt repayment obligations

MIT: Our Energy Transformation in 2015

Τετ, 30 Δεκεμβρίου 2015 - 17:00

Like 1973, the year 2015 marked a decisive shift in the world’s energy economy. In 2015 a series of events combined to drive what may well to be profound shifts—even turning points—in the history of the energy sector

Russia’s Energy Minister Blames Saudi Arabia for Destabilized Oil Market

Δευ, 28 Δεκεμβρίου 2015 - 16:56

Saudi Arabia has destabilized oil market by increasing its oil output by 1.5 mln barrels per day, Russia’s Energy Minister Alexander Novak said in an interview with Rossiya 24 TV channel. "This year Saudi Arabia has ramped up production by 1.5 mln barrels per day, which in fact destabilized the situation on the market," - he said

Greece, Croatia, and Italy Chart a Course to More Solar Power

Δευ, 28 Δεκεμβρίου 2015 - 16:54

In the wake of the COP21 climate conference in Paris, many nations are announcing plans to reduce future carbon emissions from their energy systems. But the pledges signed in Paris in December 2015 are mainly nonbinding commitments

Oil Price: How Low Can It Go?

Δευ, 28 Δεκεμβρίου 2015 - 16:52

The Organization of Petroleum Exporting Countries (OPEC) has said it expects oil prices to recover to $70 a barrel by 2020. The oil cartel, which has not shown any signs of cutting production, said oil prices would begin to rise next year and, longer term, would rise due to higher exploration costs

TAP Awards Two Contracts for Italy Onshore Construction

Τετ, 23 Δεκεμβρίου 2015 - 19:18

Trans Adriatic Pipeline AG (TAP) has awarded a contract for the Engineering, Procurement and Construction (EPC) of the Pipeline Receiving Terminal (PRT) and a contract for the EPC of the onshore pipeline in Italy (8-kilometre, 36-inch diameter)

OPEC's Market Share to Shrink by 2020 as Rivals Keep Pumping Despite Oil's Collapse

Τετ, 23 Δεκεμβρίου 2015 - 19:17

Global demand for OPEC's crude will be lower in 2020 than next year as supply from rivals proves more resilient than expected, potentially fuelling a debate on the merits of its strategy to let prices fall to hurt other producers

The Collapse of Russo-Turkish Relations Draw Ankara Closer to Tel Aviv

Τετ, 23 Δεκεμβρίου 2015 - 19:15

Israel and Turkey have come close to bridging a dispute outstanding since 2010, when a Turkish flotilla heading to Gaza was attacked by Israeli forces killing ten Turkish citizens

After Big Energy Find, Greece-Egypt-Cyprus Target Mediterranean Boundaries

Πεμ, 10 Δεκεμβρίου 2015 - 17:53

At a trilateral summit focusing on energy and maritime, Greece, Egypt and Cyprus vowed to accelerate talks on how to stake out undersea territory in the Mediterranean

Turkey Insisted it Was Not Dependent on Russia to Build its First Nuclear Power

Πεμ, 10 Δεκεμβρίου 2015 - 17:50

Turkey on Dec. 9 insisted it was not dependent on Russia to build its first nuclear power plant amid uncertainty over the $20 billion project because of the crisis in relations between Ankara and Moscow

Bulgaria, Greece Sign Deal to Start Building Gas Pipeline

Πεμ, 10 Δεκεμβρίου 2015 - 17:49

Bulgaria and Greece on Thursday signed a final investment agreement to build a natural gas pipeline to help Sofia reduce its almost complete reliance on Russian gas supplies. The 180-km (110-mile) pipeline will be built by a Bulgarian-Greek joint venture that also includes Italian energy group Edison SpA