Energy

Crude oil climbs on Middle East tensions, economy hopes

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Renewed violence in Syria, tensions with Iran and improved global investor sentiment after Federal Reserve Chairman Ben Bernanke downplayed the risk of a double-dip recession have affected oil prices which continued their climb on...

Gazprom to boost public image via Chelsea deal

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Russian gas monopoly Gazprom has scored a goal in improving its public image by signing a three-year sponsorship deal to supply gas and electricity to London-based football club Chelsea, owned by another Russian -...

Energy independence in an interdependent world

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CAMBRIDGE – When President Richard Nixon proclaimed in the early 1970’s that he wanted to secure national energy independence, the United States imported a quarter of its oil. By the decade’s end, after an...

Putin bets on Shtokman but project delays hit

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Developing the Arctic has been a bet of Russian President Vladimir Putin. But Gazprom's chief executive said recently that the completion of talks on the company's massive Arctic project, Shtokman, has been delayed again...

Greece approves gas connection with Bulgaria

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The Greek Ministry of Environment, Energy and Climate endorsed the idea of building Greek-Bulgarian pipeline from Komotini to Stara Zagora. The authorities in Athens approved the start of preliminary studies on the impact on...

Anonymous hacks five oil companies

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The hacking group Anonymous has published about 1,000 email addresses and unencrypted passwords for accounts belonging to the top oil firms Shell, Exxon, BP, and the Russian Gazprom and Rosneft. The hacks can be considered...

Bashneft, Premier Oil get Iraqi deal

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On 16 July, Russia’s Bashneft and Britain's Premier Oil have been awarded a contract to explore for energy in south Iraq. Block 12, the 8,000 square kilometre exploration block, lies across the western desert...

Straits of Hormuz bypass pipelines not to impact oil market

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Quietly and strategically, Saudi Arabia and the United Arab Emirates (UAE) opened crude pipelines bypassing the Strait of Hormuz, which Iran has repeatedly threatened to close, leading to a drop in oil prices. On...

Total to study natural gas reserves in Black Sea

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The Russian daily Vedomosti reported that Bulgaria has chosen the French oil company Total to study gas reserves in the deep-water field in the Black Sea. According to the media, the French company has won...

Smart cities, Europe’s future?

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The European Commission launched a Smart Cities and Communities European Innovation Partnership (SCC) to respond to one of the greatest challenges facing the EU – adapting cities into smart intelligent and sustainable environments. By...

Bulgaria, Greece expedite work on energy diversification

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The Bulgarian president Rosen Plevneliev and his Greek counterpart Carolos Papoulias met in Athens on 4 July and one of the main topics of their discussion was the gas connection between the two countries....

Larry King calls for more Europe

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Larry King was in Baku. Yes, in Baku. The retired CNN host talked to New Europe on the sidelines of the Crans Montana Forum in Azerbaijan ‘Addressing a Changing World! Which Energy for Which...

Kazakh oil reserves amount to 30bn barrels

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The topics regarding the current power distribution in global oil and gas sector, as well as the prospects for its development were discussed yesterday in Astana at the seminar ‘Kazakh Oil and Gas Industry:...

Azerbaijan, Turkey ink TANAP pipeline deals

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On 28 June, Azerbaijan's Shah Deniz II consortium, led by BP and Statoil, selected the Nabucco West pipeline as one of two possible routes to carry Caspian gas to western Europe, BP and Azeri...

Russian-Italian joint venture acquires Bulgarian wind power plant

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The joint venture between the Russian ‘ЛУКОЙЛ-Экоэнерго’ and the Italian ‘ERG Renew’, LUKERG Renew, concluded a deal on the acquisition of 100% of the shares in the wind power station near the town of...

First gas supplies via “South Stream” expected in December 2015

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The Deputy Chairman of Gazprom's Board of Directors and Chairman of the Management Committee, Alexey Miller, stated today at the opening of the company’s annual general shareholders meeting that ‘The first gas supplies via...

Face the truth: Europe’s biofuels bonanza causes hunger in Africa

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For the past few years, a project called “One City, One Book” has been running in my native Dublin. It’s a simple concept: during the month of April everyone is encouraged to read the...

Russia to help open Kazakh enriched uranium enterprise

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Earlier, Russia and Kazakhstan signed a comprehensive programme for co-operation in the nuclear industry, which is now being successfully realised. Uranium minefields have already been created in Kazakhstan and they are operating based on...

EU confirms Iran oil embargo will be enforced July 1

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EU foreign ministers in a statement referring to their January agreement to enforce an oil embargo to Iran after failing a breakthrough in talks on Tehran's nuclear programme, confirmed that the latest package of...

The Russian renewable energy market-a green giant which remained untapped

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Can you tell us something more about the IFC Russia Renewable Energy Program (RREP)-main activities, challenges and results so far? The International Finance Corporation (IFC) is a member of the World Bank Group, focused on...

Security of South Stream further researched

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The Bulgarian government allowed on 20 June the stay of specialized vessels, conducting research on the design of the pipeline project "South Stream", in the exclusive economic zone and territorial sea of the country. The...

Turkmenistan to export gas to Europe?

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The president of Turkmenistan, Gurbanguly Berdimuhamedow, and the Bulgarian president, Rosen Plevneliev, discussed the possible transportation of gas from the former Soviet republic to Europe. The two heads of state met during the UN Conference...

Oettinger: public sector to lead on energy efficiency

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The European Commissioner for Energy, Günther Oettinger, said during the opening session of the EU Sustainable Energy Week that ‘Public sector is to lead the way towards energy efficiency'. ‘It is the public sector that...

EU leaders host Sustainable Energy Week

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Thousands of people across Europe will gather in Brussels on 19 June until 22 June to discuss energy efficiency and renewables at the European Union's Sustainable Energy Week. The conference will hold the first...

EBRD invests €8.8 billion in sustainable energy

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In a span of five years, the European Bank for Reconstruction and Development (EBRD) invested €8.8 billion in 464 sustainable energy projects in 29 different countries. Now, they plan to address the threat of...

Euro and oil: A Greek vacation from fear for the summer?

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On 18 June, oil prices fell towards $96 a barrel, erasing early gains after a vote in Greece favouring a pro-European government failed to ease concerns about the Eurozone. A Greek parliamentary election on 17...

Shale gas slowly pushes its way through

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Little by little, shale gas in Bulgaria is strengthening its position and the hydrofraking technology is soon to become the country’s main methodology of exploration and production of conventional gas. First, it was the amendment...

Many agree EU misses mark on Energy Efficiency Directive

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A little after midnight on 14 June, the European Parliament, Commission and presidency agreed on a legislative proposal on energy efficiency and savings, in hopes that it will help the EU reach its goal...

MEPs call for new external energy suppliers and sources

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On 12 June, Members of the European Parliament adopted a non-legislative resolution with 470 votes in favour and 86 against, calling for an EU external energy policy focusing on coordination at EU level and...

South Stream determines price of Russian gas supplies to Bulgaria

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The discount of 11.1% from the price of the Russian gas supplies to Bulgaria is not yet a fact. This will become one after all shareholders of ‘South Stream-Bulgaria’ resolve the current issues and...

Rosatom to Revamp Hungarian Plant

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Russian state-owned nuclear company Rosatom is keen to expand Hungary's Paks nuclear power plant, including construction and financing of new generation blocks, a top Rosatom official said on 6 June, it was reported. Rosatom would...

Putin: no change after energy package

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Following the Russia-EU summit near St Petersburg on 4 June, Russian President Vladimir Putin once gain criticised the European Union’s Third Energy Package, saying it should not be applicable to deals signed previously. The...

Russia insecure about Bulgaria’s participation in South Stream

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The Russian newspaper Коммерсантъinformed today that Bulgaria might abandon the South Stream pipeline project. This would be the third joint initiative between the two countries to lose Bulgarian attention after the failure of the...

Energy companies hope for a binding EU 2030 renewables target

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The 2020’s will be an essential decade for European renewable industries, however, in the absence of a clear 2030 investor perspective, the expansion of European renewables industries and the EU decarbonisation agenda might be...

Rosatom to build unit 7 of NPP Kozloduy

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Bulgaria has invited Rosatom to participate in the construction of the 7th unit of the nuclear power plant (NPP) Kozloduy. This was announced by the Deputy CEO of Rosatom, Kiril Komarov, at a press...

In gas talks, Putin may play the EU off against China

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Fresh from the EU-Russia summit in St Petersburg, Russian President Vladimir Putin visits China, the fastest-growing energy market, this week on the first Asia trip of his new Kremlin mandate planning to tighten an...