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Romanian Energy Holding Oltenia to Invest 2.5 bln lei (554.3 mln euro) in Two Coal Mines

Τρι, 25 Φεβρουαρίου 2014 - 14:58

Romanian energy holding Oltenia plans to invest a combined 2.5 billion lei ($762.5 million/554.3 million euro) in the development of two coal mines in the southwestern county of Gorj, the country's economy ministry said.

Greece to Cut Solar Tariffs Retroactively in March

Τρι, 25 Φεβρουαρίου 2014 - 14:05

The Greek Energy Ministry asked RAE, the energy regulator, for one month postponement of the decision to raise the special renewables levy, in an effort to pass compensating legislative measures.

Bankers Petroleum End-2013 Oil Reserves in Albania Rise to 146.7 mln Barrels

Δευ, 24 Φεβρουαρίου 2014 - 13:15

Canadian company Bankers Petroleum said on Friday its proved reserves in the Patos-Marinza and Kucova oilfields in Albania amounted to 146.7 million barrels at the end of 2013, up by 5.0% from a year earlier.

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.

South Stream in Process of Selecting Contractors for Gas Pipes

Παρ, 21 Φεβρουαρίου 2014 - 13:45

The South Stream project confirmed its intention to construct a 59-kilometer gas pipeline branch to bring gas to consumers in Bulgaria,Turkey,Greece and FYROM, reads anote released on Wednesday.

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

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.

Bulgaria has Won Over BGN 4 billion Surplus from its EU Membership

Παρ, 21 Φεβρουαρίου 2014 - 13:30

Bulgaria has won just over BGN 4 billion surplus from its EU membership in the past 7 years, Standart daily reports based on data from the Ministry of Finance.

Russia To Demand Restart of Bourgas-Alexandroupolis Pipeline Project

Πεμ, 20 Φεβρουαρίου 2014 - 15:43

Russia will demand a restart of the Burgas – Alexandroupolis oil pipeline project, Russian news agency ITAR – TASS reported, quoting the country's energy minister Aleksandar Novak.

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.

Cyprus is Proceeding with its Plans for a Natural Gas Liquefaction Terminal

Πεμ, 20 Φεβρουαρίου 2014 - 12:01

The Republic of Cyprus proceeds with its plans for a natural gas liquefaction terminal, Minister of Energy, Commerce, Industry and Tourism, Giorgos Lakkotrypis has said.

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

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.