Photo: Petrol

Since a natural disaster (the pandemic) of such magnitude and the resulting economic crisis could not have been predicted, the Petrol Group will not meet its planned operating targets for the current

Photo: Victor Habbick via FreeDigitalPhotos

In the event of a more delayed recovery from the coronavirus pandemic, it could take until around 2027 for oil demand to come back to pre-crisis levels, said Peter Zeniewski from the International

Photo: NIS

The Serbian oil and gas company Naftna industrija Srbije (NIS) has put a deep processing facility worth more than EUR 300 million into operation at the Pančevo oil refinery, announced NIS on its

Photo: OMV Petrom

The Romanian gas and oil company OMV Petrom has invested approximately EUR 21 million at the Petrobrazi refinery in order to increase the refinery’s bio-blending capacity and to improve the

Photo: www.pixabay.com

Oil and gas companies are expected to accelerate their expansion into the European utilities space over the next two to three years, putting downward pressure on electricity prices and retail margins.

Photo: Janaf

Croatia’s state-owned oil pipeline operator, Janaf, has concluded two new contracts with the Croatian oil company Crodux Derivati Dva for the storage of petroleum products. The first contract was

Photo: Victor Habbick via FreeDigitalPhotos

Oil prices surged this week on news that an effective vaccine against COVID-19 might soon be available. However, the International Energy Agency (IEA) warned on Thursday that “it is far too early to

Photo: OMV Petrom

The Russian oil company Lukoil wants to sell its 87.8% stake in the EX-3-Trident perimeter in Romania's Black Sea offshore area, according to Adrian Constantin Volintiru, the CEO of the Romanian

Photo: www.pixabay.com

“The Romanian government will submit the new offshore law to parliament in December,” announced Dan Dragoş Drăgan, the state secretary at the Romanian Ministry of Economy, during an energy

Photo: Arhiv NIS

The Serbian oil and gas company Naftna industrija Srbije (NIS) generated a net loss of RSD 8.3 billion (EUR 70.6 million) in the first nine months of 2020 due to the “unfavourable macroeconomic

Photo: Victor Habbick via FreeDigitalPhotos

HIFA Oil, a distributor of petroleum products in Bosnia and Herzegovina (BiH), is expanding its business in the northeast of BiH. Thus, the company is leasing three petrol stations owned by the

Photo: Nuvia

Production of electricity in Bulgaria amounted to 3,312 GWh in August 2020, down 1.1% compared to July 2020 and down 9.5% compared to August 2019, reported the National Statistics Institute (NSI).