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MIT: Our Energy Transformation in 2015

MIT: Our Energy Transformation in 2015

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

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

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

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

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?

Oil Price: How Low Can It Go?

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

TAP Awards Two Contracts for Italy Onshore Construction

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)

Bulgaria, Greece Sign Deal to Start Building Gas Pipeline

Bulgaria, Greece Sign Deal to Start Building Gas Pipeline

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

Iran Denies Halving Gas Exports to Turkey

Iran Denies Halving Gas Exports to Turkey

Gas flow from Iran to Turkey has returned to normal after a temporary fall in pressure at a dispatching station, officials from the two countries say

Cyprus, Egypt, Greece Tripartite Summit declaration

Cyprus, Egypt, Greece Tripartite Summit declaration

A third Trilateral Summit between Greece, Egypt and Cyprus in Athens on Wednesday effectively solidified the foundations of the cooperation between the neighbouring countries in the years to come

Nine Banks Show Interest in Lending up to EUR 650 M to Bulgaria’s BEH

Nine Banks Show Interest in Lending up to EUR 650 M to Bulgaria’s BEH

Nine banks have confirmed interest in lending up to EUR 650 BGN to the state-owned Bulgarian Energy Holding (BEH) company, Energy Minister Temenuzhka Petkova has said. The energy group is seeking the money to enableits indebted subsidiary National Electricity Company (NEK) to repay debt owed to the local units of U.S.-basedAES Corp.and ContourGlobal