U-turn: Chevron gets green light to explore shale gas in Romania

17/05/2013 00:30 Natural Gas


The Romanian shale gas policy made a U-turn after the government allowed the oil giant Chevron to explore shale gas in the Romanian Black Sea coast.

However, despite Chevron’s approval for test drilling at the Costinesti and Vama Veche blocks in the coastal region of Constanta, the company should hold a careful outlook in the region. Under the license terms, Chevron will detonate explosions in depth from 10 to 15 meters in an area of 1,800 square meters. Additionally, in January Chevron received permission for eastern Romanian region Barlad, which boost the company's operations in the country. This policy shift came after Prime Minister Victor Ponta’s centre-left coalition government was opposed to hydraulic fracturing at the beginning, but in May 2012 the policy has slammed the previous decision. Shale gas drilling is a subject of controversy around the world, and the technique used, hydraulic fraction or fracking, has been forbidden in countries such as France and Bulgaria.

Hungarian minister highlights importance of nuclear energy

03/04/2020 10:37:00

The coronavirus pandemic has underlined the importance of the existing Paks nuclear power plant, which accounts for about half of Hungary's electricity generation, noted János Süli. The minister responsible for the design, construction and commissioning of two new reactors at Paks said that project will maintain the country's energy security and help revive its economy in the coming years.


Wind, solar secure 1.4GW in latest French tenders

03/04/2020 10:33:00

The French Ministry for the Ecological and Inclusive Transition has procured approximately 750MW of wind and 630MW of ground-mounted photovoltaic capacity in its latest round of tenders.


Daily (03.04.2020): Brent and WTI surged by 21% and 25% respectively on Thursday as Trump signalled the price war might end soon

03/04/2020 10:24:00

Crude oil futures increased considerably on Thursday, posting their biggest spike in a single session following a message from Donald Trump promising a reduction in Russian and Saudi production to rebalance the black gold market devastated by the covid-19 pandemic. At the same time, Saudi Arabia called for an urgent meeting of the OPEC and other countries, including Russia, to re-establish a balance in the oil markets.