Saturday, October 21, 2017

Northern Greece News

Gastrade Signs LNG Deal with State-owned DEPA

Greece's state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquified natural gas terminal in northern Greece, DEPA said. Greece currently has one LNG terminal on an islet off Athens.

Bulgaria, Greece to Consider Greek LNG terminal

Bulgarian state energy holding company BEH and Greek natural gas company Gastrade have set up a joint task force to prepare a proposal to build an off-shore liquefied natural gas (LNG) terminal in northern Greece, Gastrade said on Tuesday. Greece…

PPC and CMEC to Build Coal-fired Plant

China Machinery Engineering Corporation (CMEC) signed a memorandum of understanding on Wednesday with Greece's leading utility Public Power Corp. (PPC) to build a coal-fired plant in northern Greece. Under its "one belt, one road" strategy, China has been investing heavily in Greece in recent years…

Greece's Sole Oil Producer Boosts Output

Greece's sole oil producer, Energean Oil & Gas, has stepped up daily production by about 30 percent since early January, it said on Wednesday, as the debt-ridden country seeks to tap into its limited oil reserves. Plunging crude prices have…

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins. The company, which exports diesel and gasoline to markets in the southeastern Mediterranean and the Balkans…

Azerbaijan's SOCAR Still Looking to Divest Greek Gas Grid Stake

Azerbaijan's state energy firm SOCAR is still looking for an investor to divest a stake in Greece's natural gas grid operator DESFA, a key condition to conclude the acquisition of the Greek company, Greece's energy minister said on Wednesday.

Oil Stronger as Iraq, US-Iran Tension Raises Risks

Oil prices firmed on Tuesday, building on gains made as fighting between Iraqi and Kurdish forces threatened supplies from northern Iraq while tension rose between the United States and Iran. After months of rangebound trading, during which OPEC-led supply cuts supported crude but rising U.S.

Greece, Partners Sign off Trans-Adriatic Pipeline to Widen Gas Supply

Five countries in south-east Europe formally signed off on the construction of a pipeline which will transport Caspian gas to European markets in an attempt to ease their reliance on Russia. The 870-km (540-mile) Trans-Adriatic Pipeline (TAP)…

Greece to Sign 3 Oil, Gas Concession Deals

Greece said it would grant three concessions to explore and exploit oil and gas deposits next week, stepping up its quest to develop untapped energy potential. The three blocks will be awarded to groups including Greece's biggest refiner Hellenic…

Greece's Fledgling Oil Sector Steps Up Production

Greece's sole oil producer, Energean Oil & Gas, has increased daily production by 60 percent since last year, it said on Thursday, as the debt-laden country seeks to exploit its limited oil reserves to boost its public finances. While plunging…

Greece, Israel, Cyprus to Speed up Mediterranean Pipeline Efforts

Greece, Israel and Cyprus said on Thursday they would speed up plans for the development of a pipeline channelling gas to Europe from newly discovered east Mediterranean reserves. European governments and Israel agreed in April to move forward…

Oil Slips as Saudis Look to Increase Output

Saudi Arabia says ready to increase crude supply; Dollar strengthens against euro after stalled Greek debt talks. Oil prices slipped on Friday after the world's top crude exporter Saudi Arabia said it was ready to raise output to new record highs, potentially adding to a global supply glut. The U.S.

Greece Halts Sale of Stake in Hellenic Petroleum

"The stake in Greece's Hellenic Petroleum that was transferred to the privatization agency will go back to the state," Energy Minister Panagiotis Lafazanis said at a handover ceremony with his predecessor. Greece had passed a 35.5 percent stake in the refinery to the country's privatization agency…

Greece Approves Trio of Drillers for Offshore Contracts

File Image (CREDIT: AdobeStock / (c) xmentoys)

Greece approved applications submitted by a consortium of Total, ExxonMobil and Hellenic Petroleum for oil and gas exploration and drilling off the island of Crete, its energy ministry said on Friday. The ministry also approved an application…

Oil Up on Weak Dollar, Greek Deal Hopes

Dollar drops after U.S. rate rise hopes disappointed; investors eye progress on Greek talks with creditors. Oil prices rose on Thursday as a weaker dollar made fuel cheaper for holders of other currencies, and on hopes of a last-minute breakthrough…

Turkey May Suggest LNG Project to Russia

Turkey could propose to Russia building an LNG terminal in an energy complex on its border with Greece, as part of talks on planned new gas pipeline with its northern neighbour, Turkish Energy Minister Taner Yildiz said. Last week Russia scrapped…

Turkey May Suggest LNG Project to Russia

Turkey could propose to Russia building an LNG terminal in an energy complex on its border with Greece, as part of talks on planned new gas pipeline with its northern neighbour, Turkish Energy Minister Taner Yildiz said. Last week Russia scrapped…

Greece Calls on Chinese Firms to Bid for Oil Quest

Greece invited Chinese firms on Monday to bid in a Greek tender for deep-sea oil and gas exploration later this year after Athens extended the bidding process in March. Greece, which depends on financial aid from the European Union and the International Monetary Fund to stay afloat…

Tendeka Wins Lower Completion Contract in Middle East

Scott Watters, Chief Operating Officer with Tendeka (Photo: Tendeka)

Tendeka has been awarded a project to supply the Kuwait Oil Company (KOC) with its Inflow Control Device (ICD) technology which will enhance production through more effective reservoir management. The multimillion-pound deal will involve Tendeka…

Gazprom Eyeing Greece Gas Transmission Projects

Courtesy Gazprom

Gazprom has been trying to gain entery into gas transmission construction projects in Greece. In this regards, a working meeting was held today in St. Petersburg  between Alexey Miller, Chairman of the Gazprom Management Committee and Panagiotis Lafazanis…