Equinor has completed the planned sale of its assets in Nigeria and Azerbaijan for a total amount of up to $2 billion, exiting the two countries after about 30 years, the Norwegian oil and gas company announced on Monday, Reuters reports. The transactions, first announced in 2023, will increase cash flow in the fourth quarter […]
Depogaz, the company within the Romgaz group that owns most of the underground gas storage facilities in Romania, has awarded the contract to increase the daily extraction capacity from the Bilciurești storage facility. “On December 2, 2024, Foraj Sonde Videle, one of the leaders and main service providers for the energy industry in Romania, signed […]
Northern branch of giant Druzhba oil pipeline shut in Poland after leak, Slovakia fears sabotage of southern branch Poland has shut down a branch of the Druzhba oil pipeline after detecting a leak, Bloomberg reported on Sunday, citing Polish media and the local fire service, Oil Price writes. The Druzhba pipeline carries Russian crude to […]
The Commission adopted intermediate targets that EU countries are required to meet in 2025 to ensure gas storage facilities are filled to at least 90% of capacity by 1 November 2025, as required by the EU Gas Storage Regulation (EU/2022/1032). The implementing regulation defines targets for 1 February, 1 May, 1 July and 1 September 2025 […]
OMV Petrom, the largest integrated energy producer in Southeastern Europe, announces a strategic partnership with NewMed Energy Balkan, a subsidiary of NewMed Energy, to advance exploration efforts in Han Asparuh offshore block in Bulgaria. NewMed Energy is Israel’s leading energy partnership in the exploration, development, production and sale of natural gas and condensate. Parties have […]
In September 2024, ANRE developed a Draft Order to establish information measures for final electricity/natural gas customers during the period November 1, 2024-March 31, 2025. The lack of interest in customers went so far as to ignore the implementation of even this draft Order, which, although far from what ANRE’s campaign to prepare for market […]
When actions are not based on the realities on the ground, science and expert opinions, things go to extremes, unfortunately the consequences are always dangerous and costly. The lessons of recent times should change our approach and pay less attention to the “blah blah gists” and more to the professionals. In the summer of 2024, […]
The trigger that ended a more than 50-year relationship between Russian group Gazprom and Austrian OMV earlier this month was the Austrian group’s decision to seize Russian gas as payment to cover the amounts owed to OMV, following a decision by an arbitration tribunal, several sources told Reuters, cited by Agerpres. On November 13, OMV […]
The electricity supply company within the Romanian group Simtel Team is also to receive the natural gas supply license. “Draft decision and report on granting the license for carrying out the activity of supplying natural gas to the economic operator GES FURNIZARE S.R.L.”. This is one of the decisions that are expected to be taken […]
Hungarian company MVM CEEnergy is in talks with Turkish gas company Botas for a new gas import deal, Laszlo Fritsch, the group’s Hungarian chief executive, told Reuters. In the first such deal between the two countries, MVM signed a deal with Botas last year to import around 300 million cubic metres of gas. “We are […]
MOL Group and Kazakhstan’s national oil and gas company KazMunayGas (KMG) have signed a cooperation agreement to jointly explore opportunities in the oil, gas and petrochemical sector. According to a press release from the Hungarian company, this agreement extends the Joint Venture partnership in Kazakhstan, under which MOL, KMG and Sinopec from China produce gas […]
Until Donald Trump’s victory, the discussion on gas transit in Ukraine was a simple one, the current Russian gas transit agreement will not be extended, but Russian gas molecules will transit Ukraine, as a result of a transport contract that will be signed with Azerbaijan and the swap with Azerbaijani gas – Russian gas. Ukraine […]
Russia is considering another pipeline to China, this time through Kazakhstan, capable of delivering up to 35 billion cubic meters of natural gas per year, writes OilPrice.com. Announced by Deputy Prime Minister Alexander Novak, the plan comes as Moscow leans heavily towards Beijing, already delivering 40 billion cubic meters of gas to the Asian giant […]
Rompetrol Rafinare, a KMG International Group (Rompetrol) member company, recorded in the first 9 months of 2024 a gross turnover of 3.57 billion dollars and an operational result (EBITDA) of about 125 million dollars, an indicator that measures the company’s profitability before deducting depreciation, interest, fees and taxes. The financial results were influenced by the […]
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