The European Commission has approved, under EU State aid rules, an estimated €4.06 billion German measure to support the operation of four storage and regassification units (‘FSRUs’) for the import of Liquefied Natural Gas (‘LNG’) by Deutsche Energy Terminal (‘DET’). The measure contributes to the achievement of the objectives of the REPowerEU Plan, by enabling […]
31 December 2024 marked the end of the Russian gas transit agreement via Ukraine. In an extraordinary meeting of the Gas Coordination Group held today, the Commission and the Member States from the Central and Eastern Europe took stock of the situation. The exchange allowed to confirm that thanks to efficient preparatory work and coordination […]
Lukoil Romania is the main client of Oil Terminal in 2025, the company that manages the oil terminal in the port of Constanta. A sign that, unlike the more troubled situation in Bulgaria, the Russian refinery in Romania, Petrotel Ploiești, seems to have every chance of normal operation in 2025, under current conditions. Lukoil Romania […]
The refining capacity of Petromidia, Romania’s largest oil refinery, has increased to over 5 million tons per year, following the completion of its takeover by Kazakhstan’s national oil and gas company, KazMunayGas, up from 3.5 million tons in 2007, according to company officials. Investments made in the past 17 years have amounted to over $1 […]
During Trump’s second term, the US will step up efforts to replace Russian gas in Europe with alternative sources, such as liquefied natural gas (LNG) from Qatar, Egypt and Israel, with Egypt and Cyprus likely to become new hubs. These energy strategies not only weaken Russia’s economic influence over Europe, but also align with broader […]
Russian President Vladimir Putin said on Thursday that there was no time left this year to sign a new gas transit agreement with Ukraine and blamed Kiev for refusing to extend the deal that carries gas to Slovakia, the Czech Republic and Austria, Reuters reported, citing Agerpres. “They announced that they would not renew the […]
With more than three months to go before the official end of the cold season, the filling rate of Romanian gas storage facilities has dropped to 70%, from 100% at the beginning of the season. We have less gas stored than last year, and the situation is the same at European level. The earlier start […]
Hungarian oil and gas company MOL has officially expressed its interest in acquiring Lukoil’s Burgas refinery, the only refinery in Bulgaria, according to Bulgarian media. Six other companies are said to be interested. MOL’s interest was confirmed by Hungarian Prime Minister Viktor Orban, who said during a briefing in Budapest that MOL had submitted a […]
John Wood Group PLC (‘Wood’ or ‘the Company’) has been awarded a significant contract by OMV Petrom for a major project to boost the production of sustainable fuel in Southeast Europe. Under the scope of this project, the Petrobrazi refinery in Romania will become the first major production facility for sustainable aviation fuel in the region. […]
The Ministry of Energy has taken note of the recent decision of two European companies, E.ON and MVM, with significant implications for the electricity and natural gas supply market in Romania.Although the supply component does not include critical infrastructure elements, the Romanian state will use all legal levers for the strict assessment of this possible […]
US oil company ExxonMobil has announced plans to increase its oil and gas production by 18% by 2030, Enerdata reports. Annual capital expenditure will increase by between $28 billion and $33 billion between 2026 and 2030 to fund its plans to expand its oil and liquefied natural gas (LNG) production and boost shareholder returns. The […]
Italgas, which two years ago acquired DEPA Infrastructure and renamed its Greek gas network company Enaon, announced that it is preparing a total investment of 1 billion euros in Greece as part of the group’s 2024-2030 Strategic Plan, writes the publication Ekathimerini. This program will be executed by its subsidiary Enaon, focusing on four main […]
State-controlled oil company Rosneft will supply nearly 500,000 barrels per day (bpd) of crude oil to India’s private refiner Reliance in the largest-ever energy deal between the two countries, three sources familiar with the deal said, according to Reuters. The 10-year deal represents 0.5 percent of global supply and is worth about $13 billion a […]
Several officials in Hungary and Slovakia said on Wednesday they were looking for ways to continue making payments for Russian gas, payments that are now in question after the latest US sanctions targeting the Russian bank Gazprombank, Reuters reports, quoted by Agerpres. Hungarian Foreign Minister Peter Szijjarto said he would hold talks with Russian Deputy […]
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