Oil hits $71 for first time since 2014 on tighter supply and weak dollar
Oil hit $71 a barrel on Thursday for the first time since 2014, supported by OPEC-led supply curbs, a record-breaking…
Big Oil flush with cash again, but no party yet
The world’s top oil companies are expected to generate more cash in 2018 than at any other time this decade…
Workers at risk from cuts at Croatian refinery to get other jobs at INA
Workers whose jobs are affected by the closure of some activities at a loss-making oil refinery in the central town…
Methodology for gas royalties calculation gets under scrutiny again
A draft order of the National Agency for Mineral Resources (NAMR), published on January 19th, establishes that the royalties for…
Saudi Energy minister urges oil producers to extend cooperation beyond 2018
Saudi Arabia’s energy minister urged global oil producing nations to extend their cooperation beyond 2018, but said this might mean…
Naftogaz says purchase of 5 billion cubic meters of gas from Gazprom is cost-efficient
National joint-stock company Naftogaz Ukrainy believes that purchase of 5 billion cubic meters (bcm) of natural gas from Russia’s Gazprom…
IEA sees oil markets tightening as Venezuelan output collapses
Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017’s biggest unplanned output fall and could…
Chemical industry in bid to harness Germany’s green power overload
Evonik (EVKn.DE) has become the latest German chemical maker seeking to convert excess renewable power into chemical building blocks that…
Gigi Dragomir, removed in December by PM Tudose, comes back as the Chairman of NAMR
Gigi Dragomir, dismissed by Prime Minister Mihai Tudose at the end of last year from the position of the Chairman…
After 20 years in Romania, LUKOIL announces investments of more than 30 million dollars in Petrotel
Petrotel LUKOIL announces new investments in their refinery in Ploiesti, over 30 million dollars by 2020, for improving environmental footprint.…
Greece gets interest for new offshore oil and gas tenders: licensing body
Tenders for offshore oil and gas exploration and exploitation west and south of Greece have attracted “strong interest” from companies…
ROPEPCA: Royalties for natural gas are paid on the production value, not on the ref price communicated by ANRM
The Romanian Association of Petroleum Exploration and Production Companies (ROPEPCA) clarifies how are calculated the oil royalties in the context…
Gazprom not to contest Stockholm arbitration Court ruling in dispute with Naftogaz
Russia’s Gazprom is not planning to contest the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce in…
Virgiliu Băncilă, Chimcomplex: No lay-offs for Oltchim
Chimcomplex, the new owner of Oltchim, will keep the employees and the salaries of those who were working on the…
Fuels prices surged 6%, power by 12%, in 2017
Inflation climbed to 3.3% in December 2017, compared to the same month in 2016, as fuel prices up 6% and…
Oil prices up important levels: Brent crude, above $70 a barrel, WTI crude breaks $64 a barrel
On Thursday, Brent crude oil futures broke through $70 a barrel for the first time since December 2014. Robust global…
Russian gas return to Ukraine to cost EU traders $1 billion
Companies from Eni SpA to Uniper SE will see combined gas shipments to the east European nation fall by about…
Poland may reopen market for Gazprom, asks for “normal market” terms
Poland expects Russia to offer “normal market conditions” for the supply of natural gas and non-oil-related prices. This was stated…