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Bulgaria: Burgas MayorAgainst Burgas-Alexandroupolis Pipeline

Bulgaria: Burgas MayorAgainst Burgas-Alexandroupolis Pipeline

Δευ, 24 Φεβρουαρίου 2014 - 13:03

Bulgaria's Oresharski cabinet can expect a firm opposition against the construction of the project pipeline "Burgas-Alexandroupolis", Standart daily reports, citing the Black Sea city's mayor Dimitar Nikolov.

Hungarys MOL to sell 49% of Russian Unit to Turkeys TPAO

Hungary's MOL to sell 49% of Russian Unit to Turkey's TPAO

Παρ, 21 Φεβρουαρίου 2014 - 13:33

Hungary’s oil major MOL said on Thursday it will sell a 49% stake in its Russia-based wholly-owned oil exploring unit BaiTex LLC to the state-owned Turkish Petroleum Corporation, TPAO, in line with its portfolio optimisation.

Oil Businesses Seem to Be Very Profitable in Romania

Oil Businesses Seem to Be Very Profitable in Romania

Παρ, 21 Φεβρουαρίου 2014 - 13:32

Most of the privatisations made in Romania in the post-Communist years are still overshadowed by more or less justified suspicions. This is also the case of Petrom – the biggest important Romanian company for oil extraction and distribution whose majority share was bought by the Austrian group OMV in 2004 for around 700 million euros.

Trans Adriatic Pipeline to Start Booking Phase of Market Test on Mar 17

Trans Adriatic Pipeline to Start Booking Phase of Market Test on Mar 17

Πεμ, 20 Φεβρουαρίου 2014 - 12:47

The Trans Adriatic Pipeline AG (TAP) said on Wednesday it will start with the second phase of the market test for the project on March 17 as part of the procedure envisaged by the EU Gas Directive for granting it an exemption from certain provisions related to third party access, regulated tariffs and unbundling.

Serbian Oil, Gas co NIS 2013 Cons Net Profit up 2.5%

Serbian Oil, Gas co NIS 2013 Cons Net Profit up 2.5%

Τετ, 19 Φεβρουαρίου 2014 - 15:33

The consolidated net profit of Serbian oil and gas company NIS [BEL:NIIS] rose 2.5% to 48.4 billion dinars ($572.8 million/417 million euro) in 2013, the company said on Tuesday.

Greece will Reduce Industrial Companies Energy Costs

Greece will Reduce Industrial Companies' Energy Costs

Τετ, 19 Φεβρουαρίου 2014 - 12:28

Greece will reduce industrial companies' energy costs to save two struggling steelmakers, the government said on Tuesday, shrugging off objections from international lenders that the move might blow a hole in Athens' finances.

Cyprus to Sign LNG Export Plant Deal with Eni

Cyprus to Sign LNG Export Plant Deal with Eni

Τρι, 18 Φεβρουαρίου 2014 - 15:33

Cyprus will sign an initial deal with Italian oil and gas firm Eni in the next few days for the development of a liquefaction plant.

EBRD Mulls up to 28 mln euro Loan for Power Grid Updates in Kosovo

EBRD Mulls up to 28 mln euro Loan for Power Grid Updates in Kosovo

Τρι, 18 Φεβρουαρίου 2014 - 15:03

The European Bank for Reconstruction and Development (EBRD) said on Monday it is considering providing a corporate loan of up to 28 million euro ($38.4 million) to Kosovo’s transmission, system and market operator, KOSTT, to finance the upgrade of selected substations and transformers and the strengthening the grid at the 110-kilovolt level.

Russia to Start Negotiations with Croatia on Hungarian MOLs INA Stake After Sochi

Russia to Start Negotiations with Croatia on Hungarian MOL's INA Stake After Sochi

Τρι, 18 Φεβρουαρίου 2014 - 15:02

Moscow intends to start negotiations with Zagreb on purchasing Croatian refiner INA after the Winter Olympic Games being held in Sochi, Russia, portfolio.hu reports from Budapest. Meanwhile, Hungarian fuels group MOL, which owns a 49.1% stake in INA, is also pressing the Croatian government to continue their talks, Croatian daily Jutarnji list reported on Monday.

The Steel Industry in Greece is Losing its Battle for Survival

The Steel Industry in Greece is Losing its Battle for Survival

Τρι, 18 Φεβρουαρίου 2014 - 15:01

The steel industry in Greece is losing its battle for survival as the countdown has begun for the shutdown of the factories of the Manesis group’s Hellenic Halyvourgia and Halyvourgiki, owned by the Constantinos Angelopoulos group, at Aspropyrgos, Western Attica.