English Edition

Saudi Arabia Has No Plans to Negotiate Oil Production Cut with Russia

Παρ, 29 Ιανουαρίου 2016 - 15:35

The authorities of Saudi Arabia do not plan to hold talks with Russia regarding oil production cut, Saudi daily Al-Iktisadiya reported on Friday. "The announcement made yesterday [on Thursday] by the Energy Minister of the Russian Federation Alexander Novak about Saudi proposal to reduce production is incorrect," a source in the oil sector told the newspaper

Romania's Transgaz Gets 179 Mln Euro EU Grant for Gas Pipeline Linking Bulgaria, Hungary

Τετ, 20 Ιανουαρίου 2016 - 18:57

The European Commission said on Tuesday it will grant Romanian gas transmission company Transgaz [BSE:TGN] 179 million euro in support of the development of an interconnector linking the gas networks of Bulgaria, Romania, Hungary and Austria

EU Grants 4.825 Mln Euro to Croatia's Plinacro for Gas Interconnector With Slovenia

Τετ, 20 Ιανουαρίου 2016 - 18:56

Croatian state-owned gas transmission system operator Plinacro will get4.825 million euro ($5.274 million) in grant funding from the EU in support of a project for the construction of a gas interconnection with Slovenia, the European Commission said on Tuesday

Gazprom Says South Stream Gas Pipeline Agreement Dissolved

Τετ, 20 Ιανουαρίου 2016 - 18:55

The agreement on the South Stream gas pipeline project has been dissolved, Gazprom reported on Wednesday. The South Stream project worth 15.5 bln euro implied annual supplies of 67 bln cubic meters of gas to Europe

Bulgaria's South Stream Hopes Look 'Bleak' - Stratfor

Τρι, 19 Ιανουαρίου 2016 - 19:37

No matter how interested Bulgaria is in pursuing the South Stream project, the outcome looks bleak, Stratfor writes in an analysis of Russian gas infrastructure plans. There are certainly reasons Bulgaria and Russia might choose to return to South Stream. Firstly, Sofia "has remained open to the pipeline proposal", and secondly it has clearly stated its ambition to establish itself as a natural gas hub for Southeast Europe

Greek Refugee Arrivals Spike 2100% in January

Τρι, 19 Ιανουαρίου 2016 - 19:35

The European refugee crisis is getting worse as since the beginning of 2016, 31,244 migrants and refugees have arrived in Greece by sea. According to figures provided by the Greek Coast Guard, this is some 21 times as many as the 1,472 recorded by the Coast Guard for the whole of January 2015

Non-OPEC Output Falls But Oil Glut Threatens Through 2016 Says IEA

Τρι, 19 Ιανουαρίου 2016 - 19:26

Exceptionally mild temperatures in the early part of the winter in Japan, Europe and the United States – alongside weak economic sentiment in China, Brazil, Russia and other commodity-dependent economies – saw global oil demand growth flip from a near five-year high in the third quarter of last year, at 2.1mi barrels per day (mb/d), to a one-year low in the fourth quarter of 1.0 mb/d, according to the IEA’sOil Market Report(OMR) for January

Oil Below the $30 Mark and Plunging

Δευ, 18 Ιανουαρίου 2016 - 18:40

Brent crude plunged another 4%, breaking another record and reaching 12 lows on Friday. That is now a drop in excess a 20% within January and little over 70% over the last 18-months. The average price for a basket of OPEC crudes on Friday, January 15th stood at $25 per barrel

Boyko Borissov: South Stream Is History; Balkan Gas Hub Is on Agenda Now

Δευ, 18 Ιανουαρίου 2016 - 18:38

The South Stream gas pipeline project is history and the Balkan gas hub is on the agenda now and we must outline it is a priority of the European Commission, together with the gas interconnectors with neighboring countries, Bulgaria’s Prime Minister Boyko Borissov said on Wednesday in the country’s National Assembly

US Announces $220 Million in Grid Modernization Funding

Δευ, 18 Ιανουαρίου 2016 - 18:37

The U.S. Department of Energy (DOE) on Thursday unveiled a new multi-year plan to modernize the nation’s grid

Denmark Breaks its Own World Record in Wind Energy

Δευ, 18 Ιανουαρίου 2016 - 18:36

Danish wind turbines set a new world record in 2015. Wind power is now counted for 42.1% of the total electricity consumption in Denmark, according to data published on Friday(15 January)

Delayed Oil Projects Total Nears $400bn

Παρ, 15 Ιανουαρίου 2016 - 17:41

Energy groups have shelved nearly $400bn of spending on new oil and gas projects since the crude price collapse, pushing back millions of barrels a day in future output from areas including the Gulf of Mexico, Africa and Kazakhstan

BP to Axe 4,000 Upstream Jobs in 2016

Παρ, 15 Ιανουαρίου 2016 - 17:38

BP plans to cut at least 4,000 staff and contractor jobs in its upstream division this year, as it eyes further cost savings in the lower oil price environment. "Overall, at a segment level we are planning an upstream organisation with a workforce of below 20,000 people by the end of 2016," BP upstream chief executive Lamar McKay told staff today. "I cannot say how far below 20,000 since the environment continues to change and weaken."