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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

Italians Kidnapped in Libya

Δευ, 20 Ιουλίου 2015 - 17:16

Four Italian construction workers have been kidnapped inLibyanear an industrial complex owned by the Italian energy giant Eni in the western city of Mellitah, Italy’sForeign Ministry said Monday. A ministry statement said the four were employees of the Bonatti construction company

UN to Endorse Iran Nuclear Deal on Monday

Δευ, 20 Ιουλίου 2015 - 17:14

The U.N. Security Council is set to endorse the landmark nuclear deal between Iran and six world powers and adopt a series of measures leading to the end of U.N. sanctions that have hurt the Iranian economy. But the measure to be voted on Monday also provides a mechanism for U.N. sanctions to “snap back” in place if Iran fails to meet its obligations

Romania: Hunedoara Energy Receives First Trance of a 37.8 M EUR State Aid

Παρ, 17 Ιουλίου 2015 - 18:09

According to an Emergency Ordinance on granting Hunedoara Energy Complex (CEH) a state aid totalling RON 167 million (EUR 37.8 million), the first tranche has been paid to the state-owned electricity and heat producer, a statement by the Ministry of Energy, SMEs and Business Environment shows

European Refiners Ready to Welcome Return of Iranian Crude

Παρ, 17 Ιουλίου 2015 - 18:08

Mediterranean refiners are gearing up to welcome the return of Iranian crude oil to the market which could push prices lower and boost profits following the easing of Western sanctions under a landmark nuclear deal

How India Will be Affected by Iran’s Nuclear Deal

Παρ, 17 Ιουλίου 2015 - 18:05

The deal to lift international sanctions against Iran will allow India (and many other countries) to reinvigorate its economic and strategic ties with Tehran, reports the BBC

Part of New Privatization Fund’s Revenues Will Go Toward Growth

Τετ, 15 Ιουλίου 2015 - 12:38

TAIPED will be the basis for the new guarantee fund for state asset privatizations as agreed on Monday at the eurozone summit meeting in Brussels. The aim is to beef up the existing sell-off fund with assets that will generate revenues of 50 billion euros in the long term (estimated at between 30 and 35 years)

Bulgaria Receives 60 Million Levs Under Operational Program Environment 2014-2020

Τετ, 15 Ιουλίου 2015 - 12:35

Bulgaria has received 60 million levs in advance payment from the European Commission to launch operational program Environment 2014-2020, according to Environment Minister Ivelina Vasileva

Secret IMF Report - Greece Needs Debt Relief Far Beyond EU Plans

Τετ, 15 Ιουλίου 2015 - 12:34

Greece will need far bigger debt relief than euro zone partners have been prepared to envisage so far due to the devastation of its economy and banks in the last two weeks, a confidential study by the International Monetary Fund seen by Reuters shows

Iran Nuke Deal Opens Door for Lower Oil Prices

Τετ, 15 Ιουλίου 2015 - 12:33

Oil prices fell on July 14 after diplomats declared that world powers and Tehran had struck a landmark deal to curb Iran’s nuclear programme in exchange for billions of dollars in relief from international sanctions. The end of sanctions means new investments in Iran’s oil production and more oil coming into the market at a time when it is already "massively oversupplied”, according to the Paris-based International Energy Agency (IEA)

Greece: Hydrocarbon Block Tender Still On

Τετ, 15 Ιουλίου 2015 - 12:31

The tender for the concession of 20 blocks for hydrocarbon exploration in the Ionian Sea and south of Crete will continue regardless of recommendations by certain companies to postpone it due to low oil rates and the political uncertainty in Greece

EBRD is Supporting Montenegro's First Commercial Wind Power Plant

Τρι, 14 Ιουλίου 2015 - 16:55

In a landmark project for Montenegro’s energy sector, the European Bank for Reconstruction and Development (EBRD) is supporting the first commercial wind power plant in Montenegro, to be located at Krnovo, near the town of Niksic in the western part of the country

Greece: Energean Completed a New 3D Seismic Survey in the Prinos Oil Field

Τρι, 14 Ιουλίου 2015 - 16:52

Energean Oil & Gas, the international oil & gas exploration and production company focused on the Mediterranean and North Africa, is pleased to announce that it has completed a new 3D seismic survey over the Prinos Oil Field and its surrounding licenses, in the Gulf of Kavala, North Eastern Greece