EU Threatens Turkey with Sanctions over Cyprus Drilling
The European Union is set to curb contacts and funding for Ankara in retaliation for what it calls Turkey's "illegal" drilling for gas and oil off Cyprus and stands ready to ramp up sanctions further, a draft statement seen by Reuters shows.In trying to take Ankara to task over what the EU sees as Turkish interference with Cyprus' exclusive economic zone, the bloc is walking a thin line, careful not to antagonize an important partner."Despite our best intentions to keep good neighborly relations with Turkey…
Lebanon 2nd Offshore Licensing Announced
The Ministry of Energy & Water in Lebanon together with the Lebanese Petroleum Administration announced via their website the recommended blocks for bidding during the Lebanese 2nd licensing round for hydrocarbon exploration offshore Lebanon.LPA has recommended 4 blocks for the upcoming 2nd licensing round, which is expected to start in early 2019. The recommended blocks are 1, 5, 8 & 10. This recommendation was also announced during a presentation given at PETEX 2018 in London on November 26…
Google to Tap the Power of Offshore Wind
Google invests $700 mln in Danish data center, secures green energyGoogle will invest almost $700 million in a Danish data centre, the latest investment in the Nordic region which is known for its abundant renewable energy.Google said it would match the new centre's use of energy made from fossil fuels with green energy generated through so-called power purchase agreements (PPAs).The Nordic countries, which can generate electricity relatively cheaply from renewable sources such as hydropower and wind…
Shell Australia Agrees to Sell Stake in Natural Gas Fields to Timor-Leste
Royal Dutch Shell's Shell Australia said Wednesday it entered into a sales agreement with Timor-Leste to sell the government a 26.56% interest in the Greater Sunrise fields for $300 million.The Greater Sunrise fields, comprised of the Sunrise and Troubadour gas and condensate fields, are located about 150 kilometers (93 miles) southeast of Timor-Leste and 450 kilometers (279 miles) northwest of Darwin in the Northern Territory…
Angola to Produce Oil Offshore Cuba by 2017
Angola's state oil company Sonangol will produce oil offshore Cuba by 2017 if the United States lifts a maritime blockade following a return to diplomatic relations between Havana and Washington, a senior Cuban minister said on Wednesday. "The first hole would be ready for production between 2016 and 2017, depending on the location of the platform," Ricardo Cabrisas Ruiz, Cuba's vice president of the council of ministers, told Angolan state media. (Reporting by Herculano Coroado)
Ecopetrol to Sell Stake in Colombian Energy Generator
Colombia's Cabinet has authorized state-run oil company Ecotpetrol to sell its 1.1 trillion peso ($573 million) stake in energy generator Empresa Energia de Bogota (EEB), the company said in a statement on Tuesday. Ecopetrol said it would use the money raised by the sale, which was approved by Colombia's council of ministers, to finance its investment plan for next year. The company owns 6.87 percent of EEB, which is run by the city of Bogota.
Gazprom Tightening Links with Bosnia & Herzegovina
Led by Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee the Company's delegation paid a working visit to Bosnia and Herzegovina today. As part of the visit, meetings were held with the Government officials, namely Bakir Izetbegovic, Chairman of the Presidency of Bosnia and Herzegovina, Zeljko Komsic, Member of the Presidency, Vjekoslav Bevanda, Chairman of the Council of Ministers, and Zlatko Lagumdzija, Vice Chairman of the Council of Ministers – Minister of Foreign Affairs.
Spain-Date fund created to promote energy efficiency
The Spanish government on Friday approved the creation of a fund with an annual budget of EUR 370 million to promote energy efficiency in buildings, industry and transport. The National Fund for Energy Efficiency, which will draw on contributions from energy companies (200 million) and European funds (170 million), is within the actual broad decree measures to enable the Spanish economy was adopted Friday by the Council of Ministers.
Spain Launches Reform of Gas to Tackle Deficit
The Spanish government on Friday took the first step to reform the gas sector with the main objective to prevent the emerging imbalance between costs and revenues will become the financial head pain ensued in the electricity sector. "Measures to ensure economic and financial sustainability of the system are established, and the emerging problem of the tariff deficit is addressed to prevent problems like those in which we solve in this term…
Kurdistan Wants Up to 25% of Iraq Oil Revenue
The Kurdistan Regional Government believes its share of total Iraqi oil sales should be as high as 25 percent, the KRG's official spokesman said on Monday. It argues budget cuts from Baghdad had driven it to pursue independent oil sales outside the federal government's control. Safeen Dizayee, the former foreign affairs and education minister for the KRG, now the autonomous government's official spokesman, said that while under existing agreements Arbil is supposed to receive 17 percent of Iraqi oil revenues…
