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Croatia: Marathon and OMV Hand Back Croatia Oil Exploration Licences

Croatia: Marathon and OMV Hand Back Croatia Oil Exploration Licences

Παρ, 31 Ιουλίου 2015 - 15:58

Houston-based Marathon Oil and Austrian energy group OMV returned seven offshore oil and gas exploration licences to Croatia, an OMV spokesman said on Wednesday, as a slump in oil prices forces the oil industry to cut investment. Croatia, hoping to boost its oil and gas sector, had awarded the licences to a consortium formed by the two companies in January, with Marathon as the operator holding a 60-percent stake and OMV the rest

OPEC Says Able to Accommodate Iran Return

OPEC Says Able to Accommodate Iran Return

Παρ, 31 Ιουλίου 2015 - 15:56

OPEC Secretary General Abdullah al-Badri says the organization will be able to make room for Iran’s barrels when the country restores production to the levels before sanctions

Oil Price Flux Unlikely to Hit Long-Term Sector Growth

Oil Price Flux Unlikely to Hit Long-Term Sector Growth

Τρι, 28 Ιουλίου 2015 - 20:13

The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector, a report said, noting that the current fluctuations may speed up some of the trends that were already unfolding

BP Records Another Fall in Profit

BP Records Another Fall in Profit

Τρι, 28 Ιουλίου 2015 - 14:49

Oil giant, British Petroleum (BP), recorded the worst profit in 10 years mainly due to Libya Write-off, trading and the need to cover the costs of the Deepwater Horizon tragedy. According to Bloomberg, BP profit adjusted for one-time items and inventory changes dropped to $1.3 billion in the second quarter, 64 percent lower than a year earlier

TAP Awards Technip PMC Services Contract

TAP Awards Technip PMC Services Contract

Δευ, 27 Ιουλίου 2015 - 14:52

The Trans Adriatic Pipeline (TAP) AG, the project company in charge of the namesake gas pipeline project, awarded French engineering group Technip a project management consultancy (PMC) services contract, Technip said

Germanys Voith Hydro Shows Interest in Hydro Power Facilities in Montenegro

Germany's Voith Hydro Shows Interest in Hydro Power Facilities in Montenegro

Πεμ, 23 Ιουλίου 2015 - 16:34

Germany’s Voith Hydro is interested in participating in the construction of hydro power facilities on rivers in Montenegro, Elektroprivreda Crne Gore (EPCG) said.Montenegro is utilizing only 17% of its total hydroelectric potential and if the conditions for the construction of new power plants on the rivers Moraca, Komarnica, Lim, Cehotina and Tara are created, Voith Hydro would likely participate in these projects, EPCG reported in its monthly bulletin, quoting the regional sales manager of the German company, Prerag Kunic

London Economy Vulnerable to Climate Change, Assembly Report Finds

London Economy Vulnerable to Climate Change, Assembly Report Finds

Πεμ, 23 Ιουλίου 2015 - 16:33

Mayor Boris Johnson urged to act as over half of the largest 100 companies listed on London Stock Exchange are found to have no plans to deal with climate risks. London’s economy is increasingly vulnerable to climate change because of the city’s status as a global financial centre and the international connections of its businesses, a report by the London assembly has found

EU Commission Orders France to Recover 1.37 Billion Euros from EDF

EU Commission Orders France to Recover 1.37 Billion Euros from EDF

Τετ, 22 Ιουλίου 2015 - 19:43

The European Commission ordered France on Wednesday to recover 1.37 billion euros ($1.50 billion) from EDF because of a tax exemption granted to the country's main provider of electricity in 1997. The Commission said that the tax exemption of 889 million euros gave EDF, in which the French state has an 84.5 percent stake, an undue economic advantage. Interest, which will be calculated in cooperation with France, is put at 488 million euros

Israel to Built Countrys Largest Solar Power Plant

Israel to Built Country's Largest Solar Power Plant

Δευ, 20 Ιουλίου 2015 - 17:19

Israel signed a deal to build a multi-megawatt, thermo-solar power plant together with its partner the Israeli global infrastructure group Shikun & Binui, according to an announcement on Monday. The total investment of the project will be approximately $1 billion andand 110 MW Solar Thermal Electricity (STE) plant Ashalim will be able to store energy in order to produce electricity whenever required after sunset, according to the announcement

Romanias OMV Petrom to Invest 32 Mln Euro in Independenta Oil Field in 2015-2016

Romania's OMV Petrom to Invest 32 Mln Euro in Independenta Oil Field in 2015-2016

Δευ, 20 Ιουλίου 2015 - 17:17

Romanian oil and gas group OMV Petrom [BSE:SNP] said on Friday it plans to invest some 32 million euro ($35 million) in the redevelopment of Independenta oil field in the southeastern county of Galati in the 2015-2016 period.The total investment required for the FRD Independenta Phase 1 project to unlock additional oil reserves stands at 42 million euro, of which around 10 million euro were invested in 2012-2014, the company said in a statement