Greece Aims to Wean Tourist Islands from Fuel Imports
Greece signed a deal with the European Commission and the European Investment Bank (EIB) on Thursday to set up a fund that will help its tourism-reliant islands wean off fossil fuel and reduce power costs, the Greek government said.Greek Prime Minister Kyriakos Mitsotakis met EIB's Chair Nadia Calviño on Thursday.
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 with a Mediterranean pipeline project to carry natural gas from Israel to Europe…
Azerbaijan's SOCAR Expects Talks with Greece Over Gas Grid
Azerbaijan's state energy company SOCAR expects to resume talks over acquiring a stake in Greek gas grid operator DESFA in December, SOCAR's president said on Monday. The potential deal, which has been negotiated since 2013, would involve SOCAR buying a 66 percent stake in DESFA for around 400 million euros ($457 million) from the Greek state and Hellenic Petroleum.
US Oil Drillers Added Rigs for 2nd Week in a Row
U.S. energy firms added five oil rigs this week, the second week of increases in a row, despite a 19 percent collapse in U.S. crude prices from a recent high, data showed on Friday, a sign drillers were ready to return to the well pad. The gains came after 29 consecutive weeks of declines, bringing the total rig count up to 645…
Russia Denies Report of Gas Deal with Greece
Russia denied on Saturday a German media report suggesting that it could sign a gas pipeline deal with Greece as early as Tuesday which could bring up to five billion euros into Athens' depleted state coffers. German magazine Der Spiegel, citing a senior figure in Greece's ruling Syriza party, said the advance funds could "turn the page" for Athens…
Greece Gas Deal with Russia Soon
Greece is poised to sign a gas deal with Russia as early as Tuesday which could bring 3-5 billion euros into depleted government coffers, German magazine Der Spiegel reported, citing a senior figure in the ruling Syriza party. During a visit to Moscow earlier this month, Greek Prime Minister Alexis…
Greece to Seek Benefits from TAP Gas Pipeline
Greece is seeking to secure benefits from the Trans-Adriatic Pipeline (TAP) which is set to bring gas from Azerbaijan to Europe, the Greek energy minister said on Wednesday. TAP is the largest project underway to bring new supplies to European buyers after Russia shelved plans in December to build its South Stream gas pipeline to southern Europe.
Warplane Bombs Greek-operated Oil Tanker at Port
A Libyan warplane from forces loyal to the internationally recognised government bombed a Greek-operated oil tanker anchored off the coast, killing two crewmen in an escalation of hostilities between factions vying to rule the country. Military officials said the vessel had been warned not to enter port and said it had been transporting Islamist militants to Derna…
Oil at Five-Year Low, Global Markets Plunge
Brent crude hits five-year low, hurting stocks; Greek markets plunge as government brings forward vote. Chinese shares take biggest one-day fall in five years. Oil prices plumbed fresh five-year lows on Tuesday, prompting investors worried about the global economy and renewed political uncertainty in Greece to dump shares.
SOCAR Could Close Greek Gas Grid Deal
Azeri state energy company SOCAR said it expected to close a deal to purchase Greek natural gas grid operator DESFA in early 2015, anticipating that it will clear an investigation by the European Commission. SOCAR was the only bidder in a tender for DESFA last year, offering 400 million euros ($501 million) for a 66 percent stake.
Inchcape Shipping Celebrates 25th Anniversary of ISS Greece
Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has this month celebrated the 25th anniversary of its operations in Greece by hosting its annual senior management conference in Athens, close to the company’s Greek head office in the Port of Piraeus. Over 170 ISS employees…
Greece Promises Tax Cut to Attract O&G Majors
Greece is planning to cut tax rates for oil and gas companies as it wants to attract them to help exploit its untapped offshore hydrocarbon resources, its energy minister said on Tuesday. Under the plan, oil and gas explorers will pay 25 percent tax, down from 40 percent currently, and 5 percent of the tax will go to local communities.
Enel Applies To Explore For Oil And Gas In Greece
Italy's Enel has sought permission to explore for oil and gas in Greece, the Greek government said on Tuesday. Enel has expressed interest in three onshore areas in the western part of the country, Greece's energy ministry said, adding it would duly decide on the Italian company's application. If permission is granted…
Enel Applies to Explore for Oil and Gas in Greece
Italy's Enel has sought permission to explore for oil and gas in Greece, the Greek government said on Tuesday. Enel has expressed interest in three onshore areas in the western part of the country, Greece's energy ministry said, adding it would duly decide on the Italian company's application. If permission is granted…
ISS Contracted to Support Offshore Greece LNG Exploration
Inchcape Shipping Services (ISS) appointed by Petroleum Geo-Services (PGS) to support a key marine seismic survey project in Greece. Under the three month research project, ISS Greece will provide marine services to the survey vessel ‘Nordic Explorer’ and two smaller support vessels as they work along the western Greek coast from Patras Port.
