New offshore oil explorations for LUKOL in Black Sea

09/07/2010 09:44 Oil Market


New oil sectors are available in the Romanian sector of Black Sea, where a consortium won the auction for the exploration and development of two blocks of 2,000 square kilometers, Est Rapsodia and Trident.

The consortium is formed by the Russian LUKOIL and American Vanco International, where 80% of shares belong to LUKOIL and 20% to Vanko International. The blocks are located near the town of Sulina, where the area was under-explored in the past because of maritime boundaries dispute between Romania and Ukraine. Consequently to the final decision of international arbitrary pronounced in favor of Romania, several companies became interested in the exploration of the region, thought to be rich in natural gas and oil reserves.

Repsol sets up renewables unit

11/10/2019 16:01:00

Spanish oil business Repsol has established a renewable energy subsidiary, Repsol Renovables and plans to have 4.5 GW of clean energy generation capacity in 2025. And the fossil fuel giant claims it already has a clean energy pipeline in place sufficient to hit 90% of that ambition.


Chongqing gas mine plans to build 10 billion square gas field

11/10/2019 15:58:00

Chongqing Daily reporter learned that the gas mine is speeding up the shale gas business and tapping the potential of the old area, and plans to stop the decline and pick up natural gas production by 2020, with natural gas production exceeding 5 billion square meters by 2025 and 8 billion square meters by 2035 and striving to reach 10 billion square meters.


Daily (11.10.2019): EU carbon prices climbed by 2.5% on Thursday, following positive negotiations between the UK and Ireland

11/10/2019 10:44:00

Crude oil prices rebounded on Thursday, as OPEC pledges to take a supply decision for next year this December. Trade talks between U.S. and China to be held next week also lent support to prices. Hence, Brent crude rose by 1.3% to 59.10 a barrel, while WTI futures climbed by 1.8% on a daily basis to end at $53.55 a barrel.