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Romania’s Proven Natural Gas Reserves Will Run Out in 15-20 Years

Τρι, 1 Μαρτίου 2016 - 18:47

The current natural gas reserves amount to 101.37 billion cubic meters (bcm). At the current production level and replacement rate, reserves could last for another 15-20 years, reports local Economica.net

Lithuania, Slovenia Agree that Nord Stream 2 Gas Pipeline, Russia Plans to Build, Would Divide Europe

Τρι, 1 Μαρτίου 2016 - 18:46

Lithuania and Slovenia agree that the Nord Stream 2 gas pipeline Russia plans to build would shatter the European Union's unity and distort competition on the European gas market, the Lithuanian President's Office reported LETA/BNS

Iran Says Oil Exports Still Constrained Post-Sanctions

Τρι, 1 Μαρτίου 2016 - 18:41

Iran still faces constraints on oil exports as buyers are cautious about boosting trade immediately because of banking and ship insurance difficulties, a senior Iranian oil official said, despite seeing a "tangible" rise in shipments this month

Bulgaria Considers Israel to Be Potential Gas Source - Deputy PM

Παρ, 26 Φεβρουαρίου 2016 - 19:24

Bulgarian Deputy Prime Minister Tomislav Donchev has told an Israeli economic official that Sofia deems the Middle Eastern country a potential source of gas supplies

Global Wind Power Surpasses for the First Time Nuclear Energy

Παρ, 26 Φεβρουαρίου 2016 - 19:23

For the first time in history the capacity of wind power generation surpassed nuclear energy, according to data released by global industry bodies. According to the Global Wind Energy Council, wind power generation worldwide reached 432.42 gigawatts (GW) at the end of 2015 while the global nuclear power generation capacity was 382.55 gigawatts as of Jan. 1, 2016, according to the London-based World Nuclear Association said

Gazprom, DEPA, and Edison Sign MOU for the Development of the ITGI-Poseidon Project

Παρ, 26 Φεβρουαρίου 2016 - 19:21

On February 25, 2016, in Rome Alexey Miller, Chairman of the Gazprom Management Committee, Marc Benayoun, Chief Executive Officer of Edison SpA and Theodoros Kitsakos, Chief Executive Officer of DEPA SA, signed the "Memorandum of Understanding in relation to gas supplies from Russia across the Black sea through third countries to Greece and from Greece to Italy” to develop a gas pipeline project between Greece and Italy, enabling the realization of a southern route for the Russian gas supply to Europe

International Tax Reforms Do Not Go Far Enough, Says Lagarde

Τρι, 23 Φεβρουαρίου 2016 - 16:06

Speaking in Abu Dhabi today, shortly after being confirmed as the IMF chief for a second term, Lagarde said the OECD’s BEPS project, an effort to overhaul the global tax architecture and close loopholes used by multinational companies to shirk their tax dues, does not go far enough in creating an effective international tax system – a "key ingredient” of a successful 21st century economy

ΙΕΑ: Global Oil Supply Growth Plunging, With US Taking Biggest Hit for Now

Τρι, 23 Φεβρουαρίου 2016 - 16:04

Global oil supply growth is plunging as an extended period of low prices takes its toll, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report(MTOMR) released today. While U.S. light, tight oil (LTO) output is falling steeply for now, the market will begin rebalancing in 2017 – and by 2021 the United States and Iran are seen leading production gains among non-OPEC and OPEC countries, respectively

Romania’s Oil and Gas Company OMV Petrom Closes 350 Oil Wells

Τρι, 23 Φεβρουαρίου 2016 - 16:02

Romanian oil&gas company OMV Petrom announced yesterday that it suspended the production of 350 of its onshore oil wells in 2015 and could close another 350 wells this year, due to the low oil prices. A total of 1,000 of the company’s 7.500 oil wells in Romania risk being closed if the oil prices remain low and don’t cover these wells’ production costs

Natural Gas Erases Some Losses on Inventory Data

Πεμ, 18 Φεβρουαρίου 2016 - 18:50

Natural-gas prices erased some losses but continued trading lower Thursday as weekly inventory data showed that stockpiles of the fuel fell more than expected but the market remains oversupplied

SEEPEX Has Successfully Launched the Serbian Day-Ahead Market

Πεμ, 18 Φεβρουαρίου 2016 - 18:48

SEEPEX, the South East European Power Exchange, has successfully launched the Serbian Day-Ahead market, with 1,925 MWh being traded on the first day. Baseload, the average price of all hourly prices of the day, came out at 23.83 €/MWh

Bulgaria, Romania to Have Gas Interconnector in H2 of 2016

Παρ, 12 Φεβρουαρίου 2016 - 18:54

Gas interconnector between Bulgaria and Romania will be built in the second half of 2016. Bulgarian Minister Temenuzhka Petkova announced the news, speaking at a sitting of the parliamentary committee on energy, REGNUM reported

OMV Prepares to Sell Turkish Subsidiary

Παρ, 12 Φεβρουαρίου 2016 - 18:53

OMV AG is selecting advisors to assist with the sale of part or all of OMV Petrol Ofisi AS, a wholly owned wholesale and retail oil-products distributor in Turkey. The subsidiary, with 1,785 fuel stations, has the largest retail network in the country, along with extensive storage and logistics assets