Spain government has recently announced it intends to reduce renewable subsidies by 10-20% by 21 June. The decision came following a meeting between representatives of Spanish and foreign banks and industry officials last month, when it was concluded that government subsidies increased the costs for the functioning of the nation's electrical system, and the costs of running the renewable systems have been higher than the amount of money generated by actual sales of power to households and businesses.
read more... 11/06/2013
German utility giant E.ON has unveiled a 20-year agreement on LNG sales with Canada’s Pieridae Energy.
read more... 04/06/2013
Scottish Energy Minister Fergus Edwig stated that Scottish oil and gas supply chain exports increased by 8.4 % in 2012 if compared to 2011 levels, to 12.7 billion dollars.
read more... 08/05/2013
Russian energy giant Gazprom, the world’s biggest natural gas producer, reported a 10% drop in its earnings amid lower gas sales. Profits for 2012 amounted to 38.17 billion dollars, compared to 42.2 billion dollars in 2011.
read more... 30/04/2013
This week Russian President Vladimir Putin has announced the completion of the 4,740 km-long (2,945 miles) East Siberia - Pacific Ocean (ESPO) section, which runs between the Siberian city of Skovorodino and the Pacific port of Kozmino. The pipeline has the objective to increase sales to the United States, as sales to Europe have significantly decreased. The ESPO will reinforce the dominant position in the international crude markets.
read more... 26/12/2012