OIL AND OIL DERIVATES

Romanian Black Sea Gas Deposits to Decrease Gas Imports

Date: 16.08.2019 Author: Peter Palčec
Romanian Black Sea Gas Deposits to Decrease Gas ImportsPhoto: INAgip

The development of offshore deposits discovered in the Black Sea is necessary to avoid a significant increase in dependence on gas imports and it is essential that natural gas is included in the

IEA Revises Down Its 2019 and 2020 Oil Demand Growth

Date: 13.08.2019 Author: Tanja Srnovršnik
IEA Revises Down Its 2019 and 2020 Oil Demand GrowthPhoto: Victor Habbick via FreeDigitalPhotos

The International Energy Agency (IEA) has revised down its global oil demand growth for 2019 and 2020 by 0.1 million barrels per day (mb/d) to 1.1 mb/d and 1.3 mb/d, respectively, it said on Friday.

Germany Is Hoping to Replace Coal With Hydrogen

Date: 09.08.2019 Author: Peter Palčec
Germany Is Hoping to Replace Coal With HydrogenPhoto: Pixabay

Germany is increasingly looking to hydrogen as an alternative to fossil fuels to end the dependence on coal. Last month the German Economy Ministry announced funding for 20 hydrogen research labs and

Oil, Coal and Gas Industries to Face Higher Capital Costs and Insurance Premiums

Date: 07.08.2019 Author: Peter Palčec
Oil, Coal and Gas Industries to Face Higher Capital Costs and Insurance PremiumsPhoto: Roman Peklaj

“Higher costs may lie ahead for the oil, coal and gas industries as large institutional investors and insurers grow wary of their climate impact. Higher costs of capital and rising insurance

Bulgaria's Year-on-Year Power Output Up 1.9% in May

Date: 07.08.2019 Author: Peter Palčec
Bulgaria's Year-on-Year Power Output Up 1.9% in MayPhoto: www.pixabay.com

Production of electricity in Bulgaria amounted to 3,032 GWh in May 2019, down 16.5% compared to April 2019 and up 1.9% compared to May 2018, reported the National Statistics Institute (NSI).

ExxonMobil to Formally Pull Out of Romanian Offshore Gas Project

Date: 05.08.2019 Author: Peter Palčec
ExxonMobil to Formally Pull Out of Romanian Offshore Gas ProjectPhoto: Alenka Lena Klopčič

The U.S. oil group ExxonMobil has sent a letter informing interested parties about its intention to exit the Neptun Deep offshore gas project in Romania, reported the Romania Insider.

Investment Bank Lazard Appointed Croatia’s New Consultant For MOL’s Share in INA

Date: 02.08.2019 Author: Peter Palčec
Investment Bank Lazard Appointed Croatia’s New Consultant For MOL’s Share in INAPhoto: INA

Croatia’s Minister of Environmental Protection and Energy, Tomislav Ćorić, confirmed at a session of the Croatian government that the New York-based investment bank Lazard has been chosen as the

Bulgaria Announces Offshore Tender for Gas and Oil Exploration

Date: 02.08.2019 Author: Peter Palčec
Bulgaria Announces Offshore Tender for Gas and Oil ExplorationPhoto: INAgip

The Bulgarian Council of Ministers has announced a tender for the awarding of a five-year oil and gas exploration permit for Block 1-26 Tervel, located in offshore Bulgaria. This is the third tender

Romanian GSP and OMV Petrom Sign Offshore Services Agreement

Date: 02.08.2019 Author: Peter Palčec
Romanian GSP and OMV Petrom Sign Offshore Services AgreementPhoto: Alenka Lena Klopčič

Romanian GSP Offshore, a company that is part of the Romanian oil services group GSP, and the Romanian oil and gas company OMV Petrom have signed a framework agreement for integrated offshore services

Romanian OMV Petrom's Net Profit Up 53% in H1 2019

Date: 01.08.2019 Author: Peter Palčec
Romanian OMV Petrom's Net Profit Up 53% in H1 2019Photo: © European Communities, 2009

The Romanian oil and gas group OMV Petrom generated a net profit of RON 1.975 billion (EUR 417.17 million) in the first half of 2019, up 53% compared to the same period in 2018, when it amounted to

BiH's Brod Oil Refinery Generates Huge Net Loss in H1 2019

Date: 31.07.2019 Author: Peter Palčec
BiH's Brod Oil Refinery Generates Huge Net Loss in H1 2019Photo: Alenka Lena Klopčič

Rafinerija nafte Bosanski Brod, an oil refinery in Republika Srpska, generated a net loss of KM 55.75 million (EUR 28.5 million) in the first half of 2019, drastically up from the KM 6.10 million (EUR

Romania’s KMGI To Invest EUR 10.76m in Modernisation of Vega Refinery

Date: 31.07.2019 Author: Peter Palčec
Romania’s KMGI To Invest EUR 10.76m in Modernisation of Vega RefineryPhoto: Ana V. Vršnak

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 - will invest nearly USD 2


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