Montenegro Inks 30-year Oil Licensing Deal with Greek Producer
Montenegro awarded Greece's sole oil producer Energean Oil & Gas a 30-year oil and gas exploration licences in two offshore blocks in the Adriatic sea on Wednesday. The contract for the blocks covering 338 square km was awarded in line with the terms of a 2014 tender. The…
Next Geosolutions Wins MONITA Project Contract
Next Geosolutions, an independent geoscience and engineering service provider, has secured a £12million (€15million) survey contract from Prysmian Group for the MONITA Project in the Adriatic Sea. The project, which is due for completion in Q3 2016 and is the company’s biggest contract win since its establishment in 2014…
Montenegro Awards 30-year Oil Concessions to Eni, Novatek
The Montenegrin government awarded 30-year concessions for oil and gas exploration in the Adriatic sea to Italy's Eni and Russian No. 2 gas firm Novatek consortia, an economy ministry's spokeswoman said on Thursday. The concessions for four blocks have been awarded in line with the terms of a 2014 tender…
Marathon, OMV Return Croatia Oil Licenses
Blow to Croatia, which is keen to boost its energy sector; OMV cites low oil price and investment slow-down. Houston-based Marathon Oil and Austrian energy group OMV returned seven offshore oil and gas exploration licences to Croatia, an OMV spokesman said on Wednesday, as a slump in oil prices forces the oil industry to cut investment.
Croatia Eyes Adriatic Oil Potential
Croatia to sign oil, gas exploration licences in June/July. When Croatia announced in 2013 it would set a tender to explore for oil and gas in its pristine Adriatic waters, the government evoked the hydrocarbon riches of Norway to win over the plan's many detractors. "If it's not dangerous for Norway or Scotland…
Croatia, Hungary's MOL to Restart Talks Over INA
Croatia and Hungary's MOL are set to restart talks over the jointly-owned oil firm INA at the end of March with help of an international facilitator, Croatia's Economy Minister told Reuters on Tuesday. Both sides have accepted the offer from the United States to help them resolve a long running dispute and steer the talks on INA's future…
Winter Weather, Low Renewables Drive Spot Higher
Forecasts for colder weather and a steep fall in renewable supplies in the region sent central European spot prices to multi-week highs on Monday, traders said. On regional exchanges Czech power for Tuesday shot 31 percent higher to 52.60 euros ($65.70) per megawatt hour, Slovak and Hungarian day ahead climbed 28 percent to 52.60 euros…
EPCG's 9-mth Profit Falls 25 pct on Lower Hydro
Montenegro's power utility EPCG said on Monday its nine-month profit fell by a quarter to 18.2 million euros ($22.75 million), weighed down by lower hydro power generation. Hydro power output at EPCG, in which Italy's A2A holds a 41.7 percent stake, declined 42 percent to 1,138 gigawatt-hours (GWh), its spokesman said.
Serbia's Power Grid to Invest $507.5m On Upgrade
Serbia's grid operator EMS plans to spend 400 million euros ($507.5 million) over the next six years to upgrade its ageing power network and build new links to nations in the European Union, an EMS official said on Monday. Serbia, which opened talks on EU membership this year…
Petrol Raises Dividend to 10.1 Euros
Slovenia's largest fuel retailer Petrol will pay a dividend of 10.1 euros per share this year, up from 10 euros paid last year, after a shareholder vote on Thursday. The dividend is higher than 9.1 euros per share proposed by the management of Petrol in March because shareholders…
