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BP Makes Two Discoveries in UK North Sea

BP Makes Two Discoveries in UK North Sea

BP has made two new oil and gas discoveries in the UK North Sea, it said on Wednesday, giving new impetus to its plans to boost production in the ageing basin into the middle of the century. The new discoveries are also the latest bright spot for the North Sea after a number of large new fields started up in recent years, helping to reverse a long and gradual decline in output since the late 1990s

EU Commission Says Energy Poverty at ‘Unacceptable Level’

EU Commission Says Energy Poverty at ‘Unacceptable Level’

The European Commission has launched a new EU Energy Poverty Observatory in an effort to tackle a visible problem across the EU. At an event in Brussels on January 29, Vice-President for Energy Union Maroš Šefčovič acknowledged that energy poverty “has reached an unacceptable level – not only in the poorer countries of the EU but also in the richer ones”

Romanias Electrica to Invest 900 Mln Lei (194 Mln Euro) in 2018

Romania's Electrica to Invest 900 Mln Lei (194 Mln Euro) in 2018

Romanianpower supplier and distributor Electrica plans to invest 900 million lei ($241 million/ 194 million euro) in 2018, 24% more compared to last year. Investment activity will mainly focus on the rehabilitation and upgrade of the distribution networks in order to improve the quality of service and energy efficiency and reduce network losses by 40%, Electrica said in a statement filed with the Bucharest Stock Exchange on Monday

Turkeys Ipragaz Predicts Brent at Around $65 in 2018

Turkey's Ipragaz Predicts Brent at Around $65 in 2018

Turkey's Ipragaz forecasts Brent oil prices to range between $65-$70 in the first half 2018 and below $65 per barrel in the second half of the year, the company's CEO Eyup Aratay said on Tuesday. Aratay told Anadolu Agency that Ipragaz expects a stabilized oil price graphic by the end of this year

Energean Israel, Stena Drilling in Development Contract for Karish Field

Energean Israel, Stena Drilling in Development Contract for Karish Field

Greece’s Energean Oil & Gas said on January 29 that Energean Israel has signed a contract with Stena Drilling for the development drilling of the Karish Field, off the Israeli coast. According to an Energean press release, pursuant to the contract, Scotland-based Stena Drilling will deploy the Stena Forth drillship, or any other substitute per the agreement between the parties, to drill three development wells in the first quarter of 2019 with a provision made for further options that is subject to Energean’s Final Investment Decision (FID) regarding the Karish and Tanin fields

Eurogroup Gives Greece Conditional Green Light for Third Review Conclusion

Eurogroup Gives Greece Conditional Green Light for Third Review Conclusion

Eurozone finance ministers approved a new €6.7 billion loan for Greece on Monday after Athens pushed through controversial reforms. The working group of EU finance ministers said, however, that disbursement is not possible until the Greek government fully follows through in adopting the final round of "prior actions” that international lenders have demanded before paying out new loans

Iraq to Supply 12 Million Barrels of Oil to Egypt

Iraq to Supply 12 Million Barrels of Oil to Egypt

Iraq renewed a contract with Egypt to supply 12 million barrels of crude oil for one year, Iraq's Ministry of Oil announced on Monday. The Iraqi Ministry of Oil and the Egyptian Ministry of Petroleum agreed to renew the agreement starting from January 2018, which will be based on the same conditions as the former deal, Asim Jihad, spokesman of the Iraqi Oil Ministry, was quoted as saying

Trans Adriatic Pipeline 65% Completed: TAP Comm. Head

Trans Adriatic Pipeline 65% Completed: TAP Comm. Head

The Trans Adriatic Pipeline (TAP) is on schedule with 65 percent of the project completed at the end of 2017, including engineering, procurement and construction, TAP Head of Communications Lisa Givert said Monday

Turkeys Inosolar Seeks German Coop. for Solar Factory

Turkey's Inosolar Seeks German Coop. for Solar Factory

Turkey's Istanbul-based EPC contractor, Inosolar, plans to open a solar panel factory in a partnership with Europe's largest independent solar energy company SolarWorld, Inosolar's chairman of the board told Anadolu Agency on Friday. Inosolar and Solarworld reached an agreement of exclusivity on Jan. 12 which authorises Inosolar as German producer's sole distributor in Turkey with an option to build a solar panel factory in central Anatolia

Austria to Sue EU Over Paks-2 Nuclear Plant, Commission Says ‘See You in Court’

Austria to Sue EU Over Paks-2 Nuclear Plant, Commission Says ‘See You in Court’

Austria said on Monday (22 January) it planned to sue the European Commission for allowing Hungary to expand its Paks nuclear power plant, saying it did not view atomic energy as the way to combat climate change or as being in the common European interest. Austria, which shares a border with Hungary, prides itself on supporting clean energy and does not have any nuclear plants of its own

Greece, Cyprus, Jordan Heads of State Agree Renewable Energy Package

Greece, Cyprus, Jordan Heads of State Agree Renewable Energy Package

A tripartite "historical” meeting among the heads of government of Greece, Cyprus and Jordan in Nicosia on January 16 strengthened relations between the three countries and paved the way for political and economic cooperation, including energy