OIL AND OIL DERIVATES

Romania’s Regulator to Defer Turnover Tax for Energy Companies

Date: 22.02.2019 Author: Peter Palčec
Romania’s Regulator to Defer Turnover Tax for Energy CompaniesPhoto: © European Communities, 2009

The State Secretary at Romania’s Ministry of Energy, Doru Visan, said on 19 February that he had instructed the relevant bodies to defer the 2% turnover tax for energy companies for a period of one

Shell Teams Up With Repsol to Explore Hydrocarbons Offshore Bulgaria

Date: 21.02.2019 Author: Peter Palčec
Shell Teams Up With Repsol to Explore Hydrocarbons Offshore BulgariaPhoto: Alenka Žumbar

The transfer of 20% of the exploration rights on offshore Block 1-14 Khan Kubrat, in Bulgaria’s sector of the Black Sea, to Spain's Repsol from Shell International Exploration and Development Italia

BP: Renewables to Be World’s Largest Source of Electricity by 2040

Date: 19.02.2019 Author: Tanja Srnovršnik
BP: Renewables to Be World’s Largest Source of Electricity by 2040Photo: arhiv Energetike.NET

Renewable energy will be the world’s main source of electricity by 2040. The EU will continue to lead the way in terms of the penetration of renewables, with the share of renewables in the EU power

BP Outlook: The World Will Require 65% More Energy in 2040 Than Today

Date: 18.02.2019 Author: Peter Palčec
BP Outlook: The World Will Require 65% More Energy in 2040 Than TodayPhoto: InnoEnergy

By 2040 the world will require around 65% more energy than today. The UN Human Development Index suggests that increases in energy consumption of up to around 100 gigajoules (GJ) per head are

EC Launches Consultation on Strengthening Global Role of Euro in Energy

Date: 15.02.2019 Author: Tanja Srnovršnik
EC Launches Consultation on Strengthening Global Role of Euro in EnergyPhoto: © European Communities, 2009

The European Commission launched a consultation on Thursday to explore views on how to implement its recommendation on the stronger international role of the euro in the field of energy. Less than 20%

KMG International's Operational Profit EUR 221.5m in 2018

Date: 15.02.2019 Author: Peter Palčec
KMG International's Operational Profit EUR 221.5m in 2018Photo: Rompetrol

The oil refiner KazMunayGas International (KMGI), the former Romanian Rompetrol Group, a subsidy of KazMunayGas (KMG), the state-owned oil and gas company of Kazakhstan, registered positive

Eurostat: EU Energy Consumption Continues to Rise

Date: 12.02.2019 Author: Tanja Srnovršnik
Eurostat: EU Energy Consumption Continues to RisePhoto: © European Communities, 2009

Energy consumption in the EU rose for the third consecutive year in 2017, pulling the EU further away from its 2020 energy efficiency objective, said Eurostat last week.

Four Potential Groups of Investors for Development of Albania’s Velca Block

Date: 12.02.2019 Author: Tanja Srnovršnik
Four Potential Groups of Investors for Development of Albania’s Velca BlockPhoto: Tanja S. Volarič

Canada’s Pennine Petroleum Corporation is working hard to secure investors as it moves toward drilling activities in Albania’s Velca Block, said the company’s CEO, N. Desmond Smith, on Monday.

Energean Starts 3D Seismic Survey of Two Offshore Blocks in Montenegro

Date: 12.02.2019 Author: Tanja Srnovršnik
Energean Starts 3D Seismic Survey of Two Offshore Blocks in MontenegroPhoto: INAgip

The Greek oil and gas group Energean started a 3D seismic survey of two offshore blocks 30 and 26 in Montenegro on 10 February, said the Montenegrin hydrocarbons agency.

Romania: Mazarine Energy Gets Approval for Takeover of OMV Petrom’s Assets

Date: 11.02.2019 Author: Tanja Srnovršnik
Romania: Mazarine Energy Gets Approval for Takeover of OMV Petrom’s AssetsPhoto: Tanja S. Volarič

The Romanian Competition Council has approved a transaction whereby Mazarine Energy Romania will take over some assets - oil and gas fields - from the Romanian oil and gas company OMV Petrom, said the

Bankwatch: EIB Downplays Climate Risk in Granting Record for Fossil Fuel Project

Date: 11.02.2019 Author: Peter Palčec
Bankwatch: EIB Downplays Climate Risk in Granting Record for Fossil Fuel ProjectPhoto: www.pixabay.com

In a complaint lodged on Thursday with the European Investment Bank (EIB), civil society groups protest that the bank systematically underestimated the climate footprint of a fossil fuel mega project,

Montenegro Starts Second Phase of Offshore Hydrocarbon Exploration

Date: 08.02.2019 Author: Peter Palčec
Montenegro Starts Second Phase of Offshore Hydrocarbon ExplorationPhoto: OMV Petrom

Ramform Titan, a ship belonging to the Norwegian company PGS, sailed into Montenegrin territorial waters on Wednesday morning, where it began the second phase of hydrocarbon exploration in the

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