English Edition

S. Aramco Makes Preventive Plans to Sustain Supply: CEO

Δευ, 23 Μαρτίου 2020 - 19:45

Saudi Aramco has established emergency measures to sustain supply amid the increasing containment measures as the coronavirus spreads across the world, the country's state-run SPA news agency on Saturday quoted CEO Amin Nasser as saying

Business Romania’s Flag Carrier Tarom Seeks to Tap Into Freight Transport Segment

Δευ, 23 Μαρτίου 2020 - 19:39

Romanian state-owned airline Tarom seeks to compensate for the lack of revenues after most of the passenger flights have been canceled by entering the freight transport segment

SOCAR, Equinor Discover Oil in Karabagh Oil Field

Παρ, 20 Μαρτίου 2020 - 20:52

Azerbaijan's state oil company SOCAR and Norway’s Equinor announced a discovery on Thursday in the offshore Karabagh field located 120 kilometers east of Baku, in the Azerbaijan sector of the Caspian Sea

Romania's OMV Petrom Activates Business Continuity Plan to Ensure Supply Amid COVID-19 Crisis

Παρ, 20 Μαρτίου 2020 - 20:49

Romania's top oil and gas group OMV Petrom [BSE:SNP] said on Friday it has activated its business continuity plan in order to ensure the security of supplies amid the global crisis generated by the new coronavirus

Texas Plans Huge Oil Output Cut for 1st Time Since 1972

Παρ, 20 Μαρτίου 2020 - 20:47

Texas state oil regulator is considering curbing crude production for the first time in half a century in an attempt to urge in a dramatic oil price slash and to set in motion a better economic and political climate, according to international media outlets

Record 6.1GW of New Offshore Wind Installed in 2019

Παρ, 20 Μαρτίου 2020 - 20:45

The global offshore wind industry installed a record 6.1 gigawatts (GW) of new capacity in 2019, bringing total capacity to 29 GW, according to the latest data released by the Global Wind Energy Council (GWEC) on Thursday

Oil Giant Total Enters Floating Offshore Wind Segment

Πεμ, 19 Μαρτίου 2020 - 19:34

French energy giant Total signed an agreement with renewable energy developer Simply Blue Energy to acquire an 80% stake in the Erebus floating offshore wind project in the Celtic Sea in Wales, the company announced on Thursday

CEZ Expects to Settle Sale of Romanian Assets in H2 2020

Πεμ, 19 Μαρτίου 2020 - 19:24

Czech energy group CEZ said on Tuesday that it expects to settle the deal for the sale of its assets in Romania in the second half of this year

Developing States to Lose up to 85% Oil, Gas Pay in '20

Τρι, 17 Μαρτίου 2020 - 17:16

If the current coronavirus-hit oil markets remain unchanged, the oil and gas income of vulnerable developing countries are expected to fall by up to 85% in 2020, according to a joint statement by the International Energy Agency (IEA) and the Organization of Petroleum Exporting Countries (OPEC)

EIB Group Will Rapidly Mobilise up to EUR 40 Billion to Fight Crisis Caused by Covid-19

Τρι, 17 Μαρτίου 2020 - 12:55

The rapid spread of the virus is putting a heavy strain on both public health and the economy. Today the European Investment Bank Group (EIBG) has proposed measures to be taken in cooperation with the European Commission and national partners in support of European companies, health expenditure, and the EU economy as a whole.

Oil Price Drop to Curb Turkey's Gas Import Costs by 30%

Παρ, 13 Μαρτίου 2020 - 20:50

The oil price drop could lead to a 30% decrease in Turkey's long-term natural gas contracts with Russia, Iran and Azerbaijan, experts predict. Brent crude plummeted to $31 per barrel on Monday to mark its lowest level in four years after Saudi Arabia-led OPEC, together with Russia-led non-OPEC, failed to reach a deal to curb their oil production levels against the negative impact of coronavirus on low oil demand worldwide.

Covid-19 to Hit Jet Fuel Sector with 11% Demand Fall

Παρ, 13 Μαρτίου 2020 - 20:42

The global pandemic, coronavirus (Covid-19), will lead to an 11% decline in jet fuel demand in 2020 hitting this sector the hardest with the real possibility of suspended flights in the second quarter of the year, Norway-based energy research center Rystad Energy's report forecasted late Thursday.