The Trans-Adriatic Pipeline project, which envisages the transportation of gas from the second stage of development of Azerbaijan’s giant Shah Deniz gas condensate field in the Caspian Sea to the European Union countries, has already ensured its strategic role in the EU’s energy security. Recently, the TAP project, which is the western part of the […]
Albania has picked a venture led by Royal Dutch Shell and a company owned by Israeli’s Delek Group to carry out onshore oil exploration projects, subject to final contract agreements, an official told Reuters on Monday. Shell Upstream Albania BV and Canada’s Petromanas will now negotiate with Albania’s National Resources Agency to get the final […]
The near collapse of Greece’s economy has raised pressing questions for energy power Azerbaijan, which had viewed the country as a potential turbo boost for its energy ambitions in the European Union. Now, as Athens cleans house financially and talks deeper energy ties with Russia, Azerbaijan, which has an agreement to purchase a majority share in […]
TIRANA, July 23 – The Albanian ministry of energy and industry and the Italian government represented by the Italian ambassador to Tirana Massimo Gaiani signed on Thursday a 16.5 million euro (about 18.2 million U.S. dollars) agreement on behalf of a “Memorandum of Cooperation” for the energy sector. The grant comes as the last part […]
A venture between Royal Dutch Shell and Canada’s Petromanas has applied to drill two onshore blocks in central Albania close to another promising well they are drilling further south, an official said on Thursday. The official said three bids had been submitted for the blocks – from Shell Upstream Albania B.V with Petromanas Albania GmbH, Israel’s Delek […]
Global Summits organiser, IRN is delighted to announce that the 4th Balkans Oil & Gas Summit will be held in Dubrovnik, Croatia. This year’s event, originally to be held in Athens, Greece, will now be hosted in Dubrovnik, Croatia with the full support of the Croatian Ministry of Economy and the Croatian Hydrocarbon Agency to […]
Norway’s Statoil is to sell its 20-percent stake in the Trans Adriatic Gas Pipeline (TAP) project that will carry gas from Azerbaijan to Europe, the president of Azeri state energy firm SOCAR said. “Statoil has decided to leave the TAP project completely, and there is a company which is ready to buy its stake,” Rovnag […]
A 20-percent interest in the Trans Adriatic Pipeline (TAP) project would cost around 400 million euros, Natural Gas Europe reported with the reference to Italian Snam’s CEO Carlo Malacarne. The price has also to do with the current market conditions. Malacarne also confirmed that there are TAP’s stakeholders willing to sell their shares to the […]
Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is pleased to announce the Company’s second quarter operational update. Production Average production from the Patos-Marinza and Kuçova oilfields in Albania for the second quarter of 2015 was 20,045 barrels of oil per day (bopd), an increase of 1.4% compared to the first quarter 2015 average of 19,767 […]
A well connected EU energy market where energy flows freely across borders and no Member State remains isolated from the EU energy networks is a precondition for creating a resilient Energy Union with a forward looking climate policy, according to the European Commission. This will ensure secure, affordable and sustainable energy for all EU citizens […]