oil

Two oil tankers were attacked on Thursday and left adrift in the Gulf of Oman, driving up oil prices and stoking fears of a new confrontation between Iran and the United States. The White House said President Donald Trump had been…

Russia’s Investigative Committee identified six suspects in the contamination of millions of barrels of crude, which shut down pipeline shipments to some European countries, according to Bloomberg. The suspects, including Nefteperevalka…

On February 18-19, in Thessaloniki, dozens of major oil&gas companies gathered to network, listen to successful cases and enjoy Greek hospitality. Among them were noticed National Technical University of Athens, Regulatory Authority for…

Exploration and Production Offshore Congress Hub takes place on September 16-17, 2019 in Greece, Thessaloniki. The annual upstream event gathers Oil Companies, EPC and Drilling Contractors, and Governmental bodies. The Congress is host by…

Oil markets lost steam on Tuesday, giving back earlier gains, as a deteriorating economic outlook and a surge in U.S. production outweighed expected supply cuts by the Organization of the Petroleum Exporting Countries (OPEC). Brent…

Oil prices fell on Wednesday, extending losses from the previous session, with markets well supplied amid rising production and U.S. sanction waivers that allow Iran's biggest customers to continue buying its crude. Front-month Brent …

The national transporter of oil Conpet Ploiesti announced new transport tariffs through the National System of Transport for oil, gasoline, ethane so that the tariff grew from 79.75 lei/tonne to 84.37 lei/tonne, a growth of almost 6%.…

Brent crude oil futures reached $79.40 per barrel on Thursday, the highest since November 2014, as supplies tightened and demand remained strong. ANZ bank said on Thursday that Brent was “now threatening to break through $80 per barrel…

Oil prices reached 2014 highs, after U.S. President Trump abandoned a nuclear deal with Iran and announced the “highest level” of sanctions against the OPEC member. Brent crude oil touched its highest since November 2014 at $77.20 a…

Update 15:43 Prime Minister Alexis Tsipras has described the construction of the East Med gas pipeline as a project reflecting the significance of the geo-strategic cooperation between Greece, Israel and Cyprus. Speaking at a joint…

Investments in the Black Sea oil and gas sector will generate revenues of over 26 billion USD to the state budget by 2040, representing an additional 40 billion USD to the country’s GDP. Moreover, the impact on the labor market translates…

MOL Group delivered CCS EBITDA of USD 625 mn, a 2% increase year-on-year Strong growth in Upstream and Consumer Services earnings Lower refinery and petrochemicals margins weaken Downstream results Net profit at USD 238mn…

The Romanian Petroleum Exploration and Production Companies Association (ROPEPCA) presented in a press conference the results of the annual study where experts from Deloitte Romania analyze the development of effective taxation applied to…

By Vinodkumar Raghothamarao, Director Consulting, Energy Wide Perspectives & Strategy, IHS Markit EMEA Like any other major industry, the oil and gas (O&G) sector is embracing initiatives to help ease its way through the rapid…

Romania imported last year 7.75 million tons of oil, 3.8% more than in 2016, according to the National Statistics Institute (INS). Meanwhile, Romania’s oil production went down by 4.4% compared to 2016, to 3.42 million tons. According to…

The World Energy Outlook 2017 report from the International Energy Agency (IEA) describes four large-scale shifts in the global energy system, as it struggles to deal with the twin pressures of decarbonization and rising energy…

Regardless of the reason behind the initial shocks, the variation from a steady state historical demand induced the “bull whip effect” in which small changes in demand cause oscillating and increasing reverberations in production, capacity,…

by Dr Lorenc Gordani* Albania’s long history of oil production dates back some 2,000 years, when the Romans mined bitumen in the southwest (Apollonia, today the city of Fier) to caulk their ships. The first wells were drilled in the…