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OIL AND OIL DERIVATES

Petrol Group: 2020 Business Plan Cannot Be Achieved; Net Profit Down 49%

Date: 20.11.2020 Author: Valerija Hozjan
Petrol Group: 2020 Business Plan Cannot Be Achieved; Net Profit Down 49%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

IEA: Delayed Recovery Might Push Oil Demand Rebound to 2027

Date: 20.11.2020 Author: Tanja Srnovršnik
IEA: Delayed Recovery Might Push Oil Demand Rebound to 2027Photo: 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

Serbian NIS Puts Deep Processing Facility At Pančevo Refinery Into Operation

Date: 20.11.2020 Author: Peter Palčec
Serbian NIS Puts Deep Processing Facility At Pančevo Refinery Into OperationPhoto: 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

Romanian OMV Petrom Increases Bio-Blending Capacity at Petrobrazi Refinery

Date: 20.11.2020 Author: Peter Palčec
Romanian OMV Petrom Increases Bio-Blending Capacity at Petrobrazi RefineryPhoto: 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

Oil and Gas Majors Pushing Their Way Into European Utilities Space

Date: 17.11.2020 Author: Tanja Srnovršnik
Oil and Gas Majors Pushing Their Way Into European Utilities SpacePhoto: 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.

Croatian Janaf Concludes Two New Long-Term Storage Contracts

Date: 16.11.2020 Author: Peter Palčec
Croatian Janaf Concludes Two New Long-Term Storage ContractsPhoto: 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

IEA: Vaccine Unlikely to Come to the Rescue of Global Oil Demand Soon

Date: 13.11.2020 Author: Tanja Srnovršnik
IEA: Vaccine Unlikely to Come to the Rescue of Global Oil Demand SoonPhoto: 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

Russian Lukoil Wants to Sell Stake in Romanian Black Sea Perimeter

Date: 11.11.2020 Author: Peter Palčec
Russian Lukoil Wants to Sell Stake in Romanian Black Sea PerimeterPhoto: 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

Romanian Government to Submit New Offshore Law to Parliament in December

Date: 09.11.2020 Author: Peter Palčec
Romanian Government to Submit New Offshore Law to Parliament in DecemberPhoto: 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

Serbian NIS Swings to EUR 70.6m Net Loss in First 9 Months of 2020

Date: 05.11.2020 Author: Tanja Srnovršnik
Serbian NIS Swings to EUR 70.6m Net Loss in First 9 Months of 2020Photo: 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

HIFA Oil to Expand Its Business to the Northeast of BiH

Date: 05.11.2020 Author: Peter Palčec
HIFA Oil to Expand Its Business to the Northeast of BiHPhoto: 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

Bulgaria's Year-on-Year Power Output Down 9.5% in August

Date: 04.11.2020 Author: Tanja Srnovršnik
Bulgaria's Year-on-Year Power Output Down 9.5% in AugustPhoto: 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).



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