Summary Bankers is extracting crude from continental Europe’s largest onshore oilfield; Patos-Marinza in Albania. Growing production with the move from old, reactivated, vertical wells to efficient, horizontal wells. Thriving in the recent crude price slump due to improving efficiencies, netbacks, and market price of crude extracted. Target price of $4.50 based on DCF & Comps. […]
The EU is hoping future gas imports from Iran can break its dependence on Russia as prospects grow for a nuclear deal that would include lifting sanctions on Tehran. The European Union is betting on so-called Southern Corridor pipelines to supply gas to southern Europe via Turkey from fields in Azerbaijan and nearby countries, including […]
Two oil wells have exploded today at Patos-Marinze, in Fier, very close to residential areas, while behind them are created dozens small fountains that release gas. After the explosion in the air are distributed huge clouds of smoke and smell gas while underground water is gushing oil. Oil and water have flooded the streets. The explosions […]
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Albania’s trade deficit stood at around 21 billion Lek (162.29 million U.S. dollar) in February, registering a year-on-year growth of 10.9 percent, according to data published by Albania’s Institute of Statistics (INSTAT) on Monday. The figure also represents a 20 percent month-on-month increase, according to the institute. In February 2015, the value of exports from […]
Albania is trying to position itself as the export route for cheap Balkan hydro power into Italy, ahead of Montenegro, ICIS reported. An undersea electricity interconnector between the two countries could be more feasible than a cable linking Montenegro and Italy, according to Lorenc Gordani, an energy expert from Albania. The Albanian government signed a […]
Turkey made the groundbreaking ceremony for the $10 billion Trans Anatolian Natural Gas Project (TANAP) project to pipe Azeri gas to Western markets on March 17, in line with a plan which could help the EU reduce its dependence on Russian energy even as Moscow touts its own alternative. The groundbreaking ceremony was kicked off […]
Azerbaijan is running lower on energy income but, amidst a revived push for a role in gas distribution in Europe, not on energy-ambitions. Baku is pushing for the European Union’s seal of approval on the planned takeover of Greece’s gas distribution grid by Azerbaijan’s state oil and gas corporation, SOCAR. Energy Minister Natiq Aliyev expressed […]
Summary Blackbird Energy is an emerging explorer targeting the Montney formation in Canada. Thanks to its first two Montney wells, the company garnered increased attention over the last months. Hype and speculation pushed the company’s valuation to sky high levels. The drilling results were released just a few days ago disappointing the investors who dumped […]
Pipeline (TANAP) project expects BP to resolve outstanding issues soon to become a stakeholder in the multi-billion dollar project that aims to reduce Europe’s reliance on Russian gas, a TANAP official said on Wednesday. Magsud Mammad, the TANAP external relations director, told Reuters on the sidelines of an energy summit in Montenegro’s coastal resort of […]
