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OIL AND OIL DERIVATES

Romania’s Fondul Proprietatea to Sell 1.7bn Shares in OMV Petrom

Date: 17.09.2020 Author: Tanja Srnovršnik
Romania’s Fondul Proprietatea to Sell 1.7bn Shares in OMV PetromPhoto: OMV Petrom

Fondul Proprietatea (FP), the biggest investment fund in Romania, has put 1.7 billion shares in the Romanian oil and gas company OMV Petrom up for sale under an accelerated bookbuild offering on 16

Bulgaria to Have 2.65 GW of RES by 2030; Electricity Will Become More Expensive

Date: 17.09.2020 Author: Peter Palčec
Bulgaria to Have 2.65 GW of RES by 2030; Electricity Will Become More ExpensivePhoto: arhiv Energetike.NET

In its draft Sustainable Energy Development Strategy up to 2030 with a horizon to 2050, Bulgaria plans to have 2.65 GW of renewable energy capacities installed by 2030, mostly photovoltaic. However,

BP Foresees ‘Unprecedented’ Fall in Fossil Fuel Demand

Date: 16.09.2020 Author: Tanja Srnovršnik
BP Foresees ‘Unprecedented’ Fall in Fossil Fuel DemandPhoto: Roman Peklaj

The share of fossil fuels – coal, oil and natural gas – will fall from around 85% of primary energy in 2018 to between 65% and 20% by 2050 under the three scenarios presented in BP’s 2020

IEA Cuts Global Oil Demand Outlook for 2020 Due to COVID-19 Resurgence

Date: 16.09.2020 Author: Tanja Srnovršnik
IEA Cuts Global Oil Demand Outlook for 2020 Due to COVID-19 ResurgencePhoto: Victor Habbick via FreeDigitalPhotos

The International Energy Agency (IEA) has cuts its oil demand outlook for 2020, citing a “resurgence of COVID-19 cases in many countries, local lockdown measures, continued teleworking and the weak

Macedonian Negotino Oil-Fired Plant to Be Converted to Natural Gas Fuelling

Date: 10.09.2020 Author: Peter Palčec
Macedonian Negotino Oil-Fired Plant to Be Converted to Natural Gas FuellingPhoto: www.transgaz.ro

The new government of North Macedonia intends to switch the fuel of the 210 MW Negotino thermal power plant (TPP) from oil to natural gas, reports Balkangreenenergynews.com. The oil-fired facility is

EU Emissions Trading System Should Be Based on Solidarity and Pragmatism

Date: 10.09.2020 Author: Peter Palčec
EU Emissions Trading System Should Be Based on Solidarity and PragmatismPhoto: Roman Peklaj

“The costs of the green transition will affect each EU member state differently. Eastern European countries are now being asked to abandon fossil fuel electricity generation and replace it with

Romanian Competition Council Looking Into Rompetrol’s Fuel Station Takeover

Date: 03.09.2020 Author: Peter Palčec
Romanian Competition Council Looking Into Rompetrol’s Fuel Station TakeoverPhoto: www.pixabay.com

The Romanian Competition Council is looking into a transaction through which the Romanian company Rompetrol Downstream, which is owned by the oil refiner KazMunayGas International (KMGI), intends to

Montel Weekly: Oil Demand and Prices Not Likely to Recover Before End of 2021

Date: 02.09.2020 Author: Tanja Srnovršnik
Montel Weekly: Oil Demand and Prices Not Likely to Recover Before End of 2021Photo: Victor Habbick via FreeDigitalPhotos

Ample supply, full inventories and subdued demand are factors that are likely to pressure oil prices well into 2021, said Paola Rodriguez-Masiu, senior analyst at Rystad Energy, in the latest Montel

Turkish Company Soyak to Invest in Geothermal Energy in Croatia

Date: 02.09.2020 Author: Peter Palčec
Turkish Company Soyak to Invest in Geothermal Energy in CroatiaPhoto: www.pixabay.com

The Turkish company Soyak is interested in investing in geothermal energy in the Croatian municipalities of Legrad and Đelekovec, according to a press release from the municipality of Legrad. Soyak

Romanian Competition Council Looking Into OMV Petrom’s Service Outsourcing

Date: 02.09.2020 Author: Peter Palčec
Romanian Competition Council Looking Into OMV Petrom’s Service OutsourcingPhoto: www.pixabay.com

The Romanian Competition Council is analysing the transactions through which the Romanian gas and oil producer OMV Petrom outsourced some general surface operations and services related to oil and gas

Bulgaria's Year-on-Year Power Output Up 3.1% in June

Date: 01.09.2020 Author: Tanja Srnovršnik
Bulgaria's Year-on-Year Power Output Up 3.1% in JunePhoto: Nuvia

Production of electricity in Bulgaria amounted to 3,149 GWh in June 2020, up 15.1% compared to May 2020 and up 3.1% compared to June 2019, reported the National Statistics Institute (NSI).

Slovenian Petrol Group’s Net Profit Down 49% in H1 2019

Date: 31.08.2020 Author: Peter Palčec
Slovenian Petrol Group’s Net Profit Down 49% in H1 2019Photo: Petrol

The Slovenian Petrol Group's net profit amounted to EUR 20.6 million in the first six months of 2020, down 49% from the same period in 2019, said the company in its half-year financial statement on


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