IKEA Parent to Buy 80% Stake in Seven Romanian Wind Farms from Vestas

IKEA Parent to Buy 80% Stake in Seven Romanian Wind Farms from Vestas

Ingka Group, the parent company of Swedish furniture retailer IKEA, said on Friday it has signed an agreement to buy an 80% stake in seven Romanian wind farms from Danish wind turbine maker Vestas for 136 million euros ($150 million)

New EV Fast Charging Stations Start in Italy, Austria

New EV Fast Charging Stations Start in Italy, Austria

The addition of 200 fast charging stations has brought the number of electric vehicle charging points to 400 on the main long-distance roads in Italy and Austria, Enel, the station operator, announced

Brent Oil Down After Trump Hints Easing Iran Sanctions

Brent Oil Down After Trump Hints Easing Iran Sanctions

Price of Brent crude was down to open Thursday after U.S. President Donald Trump hinted the possibility that Washington could ease sanctions on Iran, which would increase crude exports from the country and raise oversupply in the oil market

Global Oil Supply Up in August 2019

Global Oil Supply Up in August 2019

Global oil supply increased in August by 0.83 million barrels per day (mb/d) month on month (m-o-m) to average 99.24 mb/d, the Organization of Petroleum Exporting Countries (OPEC) reported on Wednesday

EU Top Court Overrules Gazprom's Access to Opal P/Line

EU Top Court Overrules Gazprom's Access to Opal P/Line

The European Court of Justice overruled a European Commission decision that approved Russia’s Gazprom gaining more capacity on the Opal gas pipeline through Germany, the Polish Energy Ministry announced on Tuesday

Saudi Aramco Chairman Appointment Aims to Speed Up IPO

Saudi Aramco Chairman Appointment Aims to Speed Up IPO

The appointment of the head of Saudi Arabia's sovereign wealth fund as the Saudi Aramco chairman replacing Energy Minister Khalid Al-Falih, signals Riyad's desire to speed up the company's Initial Public Offering (IPO), according to Bassel Al Khatib, an economy expert and founder of Beirut-based Business Echoes

Turkish Powership to Produce 1st LNG Power in Africa

Turkish Powership to Produce 1st LNG Power in Africa

Turkey's Karpowership company, the designer and builder of the world's first floating power plants, is preparing to meet Senegal's 15% electricity needs from liquefied natural gas (LNG) with 235 megawatts Aysegul Sultan powership, which started its voyage from Turkey to Senegal on Sunday, the company's chief commercial officer recently announced

Novatek Secures $21.3 Bln. Investment for Arctic LNG 2

Novatek Secures $21.3 Bln. Investment for Arctic LNG 2

A final investment decision for the $21.3 billion Arctic liquefied natural gas (LNG) 2 project has been approved, Novatek, Russia's largest independent natural gas producer announced Thursday

Proposed Iraq-Turkey P/Line to Offer Greater Oil Trade

Proposed Iraq-Turkey P/Line to Offer Greater Oil Trade

The construction of a new pipeline running parallel to the existing Iraq-Turkey crude oil pipeline is expected to pave the way for greater oil trade through Turkey's southeastern port of Ceyhan in the Mediterranean Sea

HSE Names New Top Managers At Thermal Power Plant TEŠ, Coal Mine Velenje

HSE Names New Top Managers At Thermal Power Plant TEŠ, Coal Mine Velenje

Slovenia’s state power utility Holding Slovenske Elektrarne (HSE) has appointed new top managers at two of its subsidiaries – Termoelektrarna Šoštanj, which operates the Šoštanj thermal power plant (TEŠ), and Premogovnik Velenje, the operator of the Velenje coal mine, according to two separate press releases on the company’s website

Jordan Receives First Iraqi Oil for 5 Years

Jordan Receives First Iraqi Oil for 5 Years

Jordan said it received its first shipment Wednesday of Iraqi oil, interrupted for five years by Daesh's control of swathes of Iraq between 2014 and 2017

Croatia Says Four Companies to Invest 78 Mln Euro in Oil-Gas Exploration

Croatia Says Four Companies to Invest 78 Mln Euro in Oil-Gas Exploration

The four companies, which have just received six oil and gas exploration and exploitation licences for locations in northern Croatia, are expected to invest some 78 million euro ($85.3 million) in exploratory activities, energy minister Tomislav Coric said