English Edition

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."

Turkish Diesel Oil Prices Fall for 2nd Time This Week

Παρ, 15 Ιανουαρίου 2016 - 17:36

Turkish diesel prices dropped by an average of 0.05 liras per liter on Friday, according to official figures. In the Turkish capital Ankara, diesel will be sold at 3.38 liras per liter, while prices dropped to 3.32 liras in Istanbul and 3.35 liras in Izmir

Statoil Acquires 12 pct Share of Swedish Lundin Petr.

Παρ, 15 Ιανουαρίου 2016 - 17:35

Norwegian Statoil acquired around 12 percent share and votes of Swedish energy company Lundin Petroleum on Thursday. According to Statoil's announcement, the transaction fee is around $539 million (4.6 billion SEK). The company said the investment in Lundin Petroleum will increase its indirect exposure to core assets on the Norwegian Continental Shelf (NCS)

EIA Expects Oil Prices to Remain Low Through 2016, 2017

Παρ, 15 Ιανουαρίου 2016 - 17:35

The U.S.' Energy Information Administration (EIA) said Wednesday that it expects oil prices to remain low through this year and the next

Electricity Consumption in Bulgaria Up 2.5% in 2015

Τρι, 5 Ιανουαρίου 2016 - 18:13

Consumption of electricity increased in 2015, reversing a downward trend observed in the past four years, an official with Bulgaria's Electricity System Operator (ESO) has said. The Central Dispatching Unit of ESO is the unit coordinating regimes of the electricity system and providing for its smooth and efficient functioning, also in charge of organizing the electricity market

Islamic State Resumes Attack on Libyan Oil Port

Τρι, 5 Ιανουαρίου 2016 - 18:11

Islamic State fighters resumed attacks on a key oil terminal in eastern Libya, setting a second tank on fire, a Libyan oil official said on Tuesday. The attacks stoked fears the North African country’s oil industry is the next target for the radical Islamist group. They came just weeks after representatives of Libya’s two rival governments signed a power-sharing agreement that called for the formation of a national-unity government by mid-January

Oil Market Shakes Off Iran-Saudi Clash

Τρι, 5 Ιανουαρίου 2016 - 18:09

Iran-Saudi tensions fuelled oil prices at the start of 2016 but weak Chinese economic data capped the gains. The oil price rose in early trade on January 4 after Saudi Arabia’s execution of a dissident cleric enraged Iran and caused concern over supply by two of the world’s top oil producers. However, weaker-than-expected Chinese manufacturing data and falling Asian stock markets renewed worries about demand from the world’s second biggest oil consumer, limiting crude oil gains

Bulgaria's PM: Overgas Crisis Was Plot against Govt

Δευ, 4 Ιανουαρίου 2016 - 17:52

Bulgarian Prime Minister Boyko Borisov on Monday described recent developments related to private gas supplier Overgas as a "plot against the government". In an interview with private national bTV station, he warned shortage in gas supplies to Overgas and its customers as of January 01 could have "brought about a collapse of the entire energy network of the country and mass protests against the cabinet."

Iran-Saudi Crisis Most Dangerous for Decades

Δευ, 4 Ιανουαρίου 2016 - 17:49

Tensions have spiralled following the execution of Saudi cleric Nimr al-Nimr, the subsequent setting ablaze of the Saudi embassy in Tehran, and Riyadh's expulsion of Iranian diplomats. The struggle between Riyadh and Tehran for political and religious influence has geopolitical implications that extend far beyond the placid waters of the Gulf and encompass nearly every major conflict zone in the Middle East

First Crude Oil Shipment Exports From U.S. After 40 Year Ban Lifted

Δευ, 4 Ιανουαρίου 2016 - 17:46

The first crude oil shipment exported from the United States, after a 40 year ban, left from Corpus Christi, Texas last Thursday