Latest news
Iran intends to increase oil production to 4.7 million barrels per day
According to Mansour Moazami, deputy minister of Industry, Mine and Trade of Iran, as well as former managing-director of the National Iranian Gas Company, Iran intends to raise daily crude production from its current level of 3.8 million barrels to 4.75 million barrels, as the country needs to promote its strategic role with the introduction of new policies.
read more... 01/09/2016
Italy's Edison in talks with Russian Gazprom over ITGI Poseidon gas pipeline
Russia’s energy gyant Gazprom and Italy’s Edison have held talks over the organization of the southern route of Russian natural gas deliveries to Europe via the ITGI Poseidon gas pipeline route (Turkey-Greece-Italy interconnector pipeline project) related to the resumption of the Turkish Stream project.
read more... 01/09/2016
Daily: Oil prices down on unexpected increase in U.S crude and distillate stockpiles
On Wednesday crude oil prices lost around 3 percent as U.S crude and distillates stockpiles registered an unexpected big increase, with analysts predicting lower levels. After rising more than 11 percent in August oil prices are again under pressure. Brent crude settled at $47/barrel, down 2.7 percent from yesterday, meanwhile WTI crude closed the session at $44.70/barrel, down over 3.5 percent.
read more... 01/09/2016
Egypt inks natural gas cooperation contract with Cyprus
Energy Minister George Lakkotrypis and the Egyptian Minister of Petroleum and Mineral Resources, Tarek el Mola, signed today a deal regarding the transfer of natural gas via pipeline from Cyprus Exclusive Economic Zone to Egypt through a direct undersea pipeline. This agreement is described as an essential as it is expected to place Cyprus in a competitive regional gas export infrastructure and help the island to cooperate with key players in the region such as Egypt.
read more... 31/08/2016
Turkish Stream pipeline to be realized
The Turkish Stream pipeline project, which foresees Russian gas supply to Turkey through the Black Sea, will be realized. The Turkish Stream pipeline, which is to run via Turkey to Greece, was designed to replace South Stream, a pipeline from Russia to Bulgaria.
read more... 31/08/2016