Lufkin to build its first plant in Romania

14/07/2010 08:00 Oil Market


Lufkin, an American oilfield and power transmission products supplier, announced its intention to build a production plant near Romanian oil center, Ploiesti.

The plant will manufacture oilfield products, with the possibility to diversify in the future. The plant is estimated at $126 millions, costs that would be partly covered by Romanian government through incentives, employing over 300 persons when it starts operating. The plant is supposed to start producing in 2012. The strategically positioning of the plant will allow the company to expand its influence on Eastern Europe and Asian market.

Zimbabwe hikes average electricity tariff by 320% - energy regulator

09/10/2019 13:25:00

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday.


Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.


Ukraine to export natural gas to Moldova without Gazprom's involvement

09/10/2019 09:28:00

The Cabinet of Ministers has instructed NJSC Naftogaz of Ukraine to take measures to ensure natural gas exports to Moldova without the involvement of Russia's Gazprom.