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German Households Face Rising Green Power Surcharge

German Households Face Rising Green Power Surcharge

Τετ, 7 Οκτωβρίου 2015 - 14:05

A green energy surcharge levied on German consumers to support renewable power generation is likely to rise next year, despite government efforts to rein in the costs of the planned transition to a low-carbon economy, green energy group BEE said on Wednesday

Bulgaria Seeking to Become Hub for Russian Gas

Bulgaria 'Seeking to Become Hub for Russian Gas'

Τετ, 7 Οκτωβρίου 2015 - 14:00

Bulgaria has not set for itself the goal of becoming a key hub for gas produced by Russian energy giant Gazprom, according to a Russian daily. Izvestiya quotes Bulgaria's Deputy Energy Minister Anton Pavlov as saying that Sofia would demand an extension to the so-called Turkish Stream gas pipeline which is to replace South Stream

BP to Pay $20bn for Gulf of Mexico Oil Spill

BP to Pay $20bn for Gulf of Mexico Oil Spill

Τετ, 7 Οκτωβρίου 2015 - 13:58

UK oil company BP has agreed to pay more than $20 billion (£13bn) to resolve all claims from the Gulf of Mexico oil spill in 2010. The US Department of Justice made the announcement, of what is said to be the largest settlement with a single entity in American history

Gazprom Halves Turkish Stream Capacity

Gazprom Halves Turkish Stream Capacity

Τετ, 7 Οκτωβρίου 2015 - 13:56

Gazprom CEO Alexei Miller said on October 6 the Russian gas monopoly has almost halved the planned capacity of its controversial Turkish Stream gas pipeline project to 32 billion cubic metres per year from an original capacity of 63 billion cubic metres. After Russia scrapped the South Stream pipeline, Gazprom has pushed ahead with Turkish Stream that is also planning to bring gas to Europe bypassing Ukraine

TPP Deal Concluded Without China

TPP Deal Concluded Without China

Τρι, 6 Οκτωβρίου 2015 - 13:52

After years of negotiations, a deal was struck on October 5 to conclude the 12-member Trans-Pacific Partnership (TPP), which does not include China. As reported by The Wall Street Journal, Japan views the agreement as key to its economic and security goals as China expands its influence in the region, especially in Southeast Asia, where Japan has long been a major investor and aid donor

Four New Projects for Greek Co. TERNA in the Middle East

Four New Projects for Greek Co. TERNA in the Middle East

Τρι, 6 Οκτωβρίου 2015 - 13:48

TERNA was recently assigned four new projects, budgeted at EUR 150 million approximately, in Bahrain and Abu Dhabi. Specifically, in Bahrain, TERNA undertook the construction and maintenance of a complex of 832 residence units commissioned by the «Affordable & Social Housing» program

Gazprom Waits for Decision of German Regulator on Using 100% of OPAL Pipeline Capacities

Gazprom Waits for Decision of German Regulator on Using 100% of OPAL Pipeline Capacities

Τρι, 6 Οκτωβρίου 2015 - 13:44

Gazprom has applied for using 100% of the OPAL pipeline capacities, Deputy Minister of Energy Anatoly Yanovsky told journalists Tuesday. According to him, the company is currently waiting for a decision of the German regulator "As far as I know, Gazprom should not apply [for using 100% of OPAL capacities - TASS], because the application was already submitted. Therefore, this application needs to be approved, and it depends on the German regulator and from the European Commission," Yanovsky said

Iran’s New Plan for Oil Sanctions Removal

Iran’s New Plan for Oil Sanctions Removal

Δευ, 5 Οκτωβρίου 2015 - 14:26

A senior Iranian oil official has announced the presence of the world’s largest oil companies in Tehran and deemed the investment of these companies in Iran as a step forward to the complete abolition of sanctions

Denmark’s Wind Farms Exceed Electricity Demand

Denmark’s Wind Farms Exceed Electricity Demand

Δευ, 5 Οκτωβρίου 2015 - 14:19

Generating power in Denmark has never been easier. The country’s 5 gigawatts of wind capacity can produce nearly 40% of the country’s instantaneous electricity demand. That’s the highest share of electricity generated by wind by any nation on Earth, according to Greentech Media

‘Largest’ Solar Farm in Scotland Opens

‘Largest’ Solar Farm in Scotland Opens

Τετ, 30 Σεπτεμβρίου 2015 - 17:23

The construction of what is claimed to be the largest solar farm in Scotland has been completed. It islocated in Aberdeenshire and has a capacity of 1.8MW. The facility has7,000 panels which are expected to generate 1.5 million kWh of electricity and reduce 850,000kgs of carbon emissions per year

RWE Says No Hope for Power Prices, Looks for More Savings

RWE Says No Hope for Power Prices, Looks for More Savings

Τετ, 30 Σεπτεμβρίου 2015 - 17:22

RWE sees no prospects of a short-term recovery in wholesale power prices and will look for savings in its generation arm, its chief financial office Bernhard Guenther said during a call with analysts on Wednesday. "We will not accept loss-making operations in the long-term," Guenther said

Shell to Explore for Oil, Gas in Bulgarias Offshore Silistar Block

Shell to Explore for Oil, Gas in Bulgaria's Offshore Silistar Block

Τετ, 30 Σεπτεμβρίου 2015 - 17:21

Dutch-based Shell Exploration and Production was chosen to explore for oil and gas in Bulgaria's 1-14 Silistar block in the Black Sea, the country's energy ministry said on Tuesday.Shell will invest18.6 million euro ($20.98 million) in exploration works, plus a 4.9 million euro bonus it will pay the state upon signing the contract, the ministry said in a press release

ECB Suspends Purchase of Loans Backed by VW Assets

ECB Suspends Purchase of Loans Backed by VW Assets

Δευ, 28 Σεπτεμβρίου 2015 - 13:21

The European Central Bank has suspended buying bundles of loans backed by Volkswagen assets as it reviews the financial implications of the scandal engulfing Germany’s biggest carmaker. The plunge in VW shares by almost a third in 10 days has prompted the central bank to review whether to bar VW paper from its bond purchase programme