English Edition

Oil Prices Rise With Confidence in OPEC Production Cuts

Oil prices were up on Tuesday with renewed confidence in OPEC production cuts, but the possibility of a second coronavirus (COVID-19) wave continues to keep the outlook for global oil demand low

Montenegrin Government Proposes Law on Energy, Eases Rules for Prosumers

The Government of Montenegro has adopted the draft Law on Energy to make it easier for consumers to become prosumers which means they could generate and consume their own green energy

2020 Global Oil Demand to See Largest Fall in History

Oil demand in 2020 is expected to fall by 8.1 million barrels per day (mb/d), the largest in history, before recovering by 5.7 mb/d in 2021, the International Energy Agency (IEA) reported on Tuesday

Construction Starts for Foating Solar Plant in Albania

Statkraft and its supplier Ocean Sun is ready to start the construction of the planned 2 MWp floating solar pilot project in Albania. The pilot has an estimated total investment of EUR 2 million and will be placed at the Banja reservoir, where Statkraft is operating its 72 MW Banja hydropower plant

British Energy Giant BP Lowers its Oil Price Outlook

British energy giant BP revised down its long-term Brent oil price assumptions by around 30% and expects its write-offs and non-cash impairment charges for the second quarter of the year to be in a post-tax range between $13 billion and $17.5 billion, it announced Monday

PowerGlobe Qatar Books All Free Capacities at Croatia's Krk LNG Terminal for Next 3 Years

All of the remaining free capacities of Croatia's future Krk liquefied natural gas (LNG) terminal for the next three gas years have been booked under a 15-year deal with PowerGlobe Qatar LLC, the terminal operator, LNG Croatia said on Monday

GE Inks Wind Power Deal With Naturgy in Spain

GE Renewable Energy signed an agreement with Spain’s Naturgy Energy Group to provide a 5-year full-service agreement for the La Rabia Wind Farm in Spain, the company announced in a statement on Friday

DESFA Presented to the Market its Revised Proposal on the Annual Scheduling Process for Unloading LNG Cargoes to Revithoussa

DESFA, the Hellenic Gas Transmission System Operator, organized a workshop presenting to the market its revised proposal on the annual scheduling process for unloading LNG cargoes to the Revithoussa LNG terminal. The workshop took place on June 4, 2020, via videoconference, and was attended by a large number of participants in the LNG market, as well as representatives of RAE

Germany Approves National Green Hydrogen Strategy

TANAP Ramps Up Gas Flow to Turkey in 2nd Working Year

The Trans Anatolian Natural Gas Project (TANAP) will deliver 6 billion cubic meters (bcm) of natural gas to Turkey by June 30 this year, which marks the pipeline’s second year of commercial operations, TANAP's General Manager Saltuk Duzyol told Anadolu Agency on Thursday

EIA Revises Up Brent Price Forecast by $4 for 2020

The US Energy Information Administration (EIA) has revised up its Brent crude oil price forecast for 2020 by $4 per barrel, according to its monthly Short-Term Energy Outlook (STEO) report for June released on Tuesday

105 Km of Trans Adriatic P/line Offshore Part Completed

Trans Adriatic Pipeline (TAP) AG company completed the 105-kilometer-long offshore section of the pipeline under the Adriatic Sea, according to the statement from the company on Tuesday

BP to Lay Off 10,000 Workers Due to Depressed Oil Industry

BP said Monday it will cut about 10,000 jobs as it contends with lower oil prices and depressed demand due to the coronavirus pandemic