Rompetrol Group secures EUR 55 mln RBS loan for gas stations and LPG division in Romania

The Royal Bank of Scotland (RBS) and Rompetrol Group signed a multi-currency loan agreement at the end of 2011, amounting to a total of EUR 55 million, with a one-year maturity. Rompetrol Group will use the loan as working ... More

Aleksandar Panfilov : The State is responsible for the development of oil products market

Liberalization has contributed to on strengthening competition and development of oil products market in Serbia, said Aleksandar Panfilov, general manager of Lukoil Serbia adding that the state must put a stop on to the ... More

Call for investments in Serbian energy sector

Serbia's energy sector is competitive and safe for investments, Head of the National Petroleum Committee of Serbia Petar Skundric said in Doha on Monday, and called on foreign investors to invest in Serbia. The energy sector is ... More

Bulgaria demands 450 m euro from the EC for Kozloduy Decommissioning Support Fund

Officials from Bulgaria’s Ministry of Energy, Economy and Tourism have announced that Bulgaria has demanded 450 m euro from the European Commission to prolong the operation of the Kozloduy International Decommissioning ... More

Lukoil has been given tax benefits for exploitation and export of oil from the Caspian Sea

The first Russian oil from the Caspian Sea was extracted on 28 April, 2010. Even the then Prime Minister Vladimir Putin attended the ceremony, and not only did he put the oil production in the Yuri Korchagin field into operation, ... More

Bulgaria's Government reconsiders plans to close Brikel

Bulgaria's has decided to close electricity and briquette plant Brikel for one-month for planned repairs from May 5 2011 instead of starting a procedure to de-commission the two operating boiler units at the factory, slated for ... More

Eurostat on oil, renewable energy sources consumption in EU

Oil represents over half of energy consumption in Greece (55 percent), while the consumption percentage from renewable energy sources amounts to only 6.1 percent, according to data publicised by Eurostat on Monday. According to ... More

PVB Power Bulgaria to build seven hydropower plants in Romania

The Bulgarian unit of Italy-based company PVB Power said on Wednesday it will invest EUR 250 million in the construction of seven small-scale hydropower plants in Romania. The company has obtained seven water use permits ... More

Gazprom Neft satisfied with NIS business results

The Russian oil company Gazprom Neft, the majority owner of Naftna Industrija Srbije (NIS), is satisfied with NIS business results in 2011, Gazprom Neft Director General Alexander Dukov told Tanjug. NIS is developing very ... More

Hellenic Petroleum: No problems

February was the worst month since the economic crisis began for the domestic fuel market, with sales down 20 pct compared with the same month last year, Hellenic Petroleum officials announced on Tuesday. The same officials ... More

Development programmes and investment opportunities in the BH energy sector

Bosnia and Herzegovina is exploiting its naturally fast-flowing mountain streams and powerful rivers through the encouragement of hydroelectric power production. The basic sources of primary energy in BiH are coal and ... More

Barroso presents new energy strategy concerning Bulgaria

Energy security would be the accent of the starting European Council sitting in Brussels. On the eve of the form EC President Jose Manuel Barroso launched a new strategic project for Central and East Europe, of which Bulgaria is ... More

Lukoil-Beopetrol improves payroll in Serbia

Lukoil-Beopetrol has increased all workers' payments by 10 percent since 1 January 2011, despite the effects of liberalization of petroleum market in Serbia, reports quoting Lukoil sources. Lukoil-Beopetrol ... More

MOL buys 10,082 Ina´s shares

Hungarian MOL company has increased its shares in the Croatian oil company Ina by a fraction of one percent and is far from becoming a majority owner, latest data shows. MOL launched a public offer last month for the purchase ... More

Gazprom Neft publishes offer for purchase of NIS shares

The Russian company Gazprom Neft published in the press on Monday its offer for the purchase of 19.08 percent of shares of the Petroleum Industry of Serbia (NIS) from small shareholders, at the price of EUR 4.8 per share. The ... More

Russian Inter Rao seeks EUR 300m loan to buy Enel's Bulgarian plant

Russian energy giant Inter Rao is seeking to borrow EUR 300 million to fund its planned acquisition of a 73% stake in Bulgaria's Maritsa Iztok 3 (East) thermal power plant from Italian Enel (BIT:ENEL), Reuters reported on ... More

Bulgaria, Alpine Bau Strike Deal on Problematic Hydro-Power Plant

In October, Bulgaria's National Electric Company NEK and Austrian construction company Alpine Bau sealed a deal under which the latter agreed to knock EUR 10 M off the price of the project. The agreement was signed after ... More

Belgium Company Invests EUR 15 M in Bulgarian Biofuels Plant

In March, Yves Crits, CEO of the Belgium company 4Energy Invest announced an investment in a biofuels plant in Kardzhali. The Belgian specializes in renewable energy by creating and managing a portfolio of small to middle-sized ... More

Bulgaria to Have New Renewable Energy Act

Bulgaria's new Renewable Energy Sources Act will be ready shortly, Economy and Energy Minister Traikov said at the end of the year. The act aims at meeting the mandatory targets set by EU's Directive on the Promotion of the ... More

Bulgaria Doubles Electricity Export in 2010

Bulgaria has marked a record high of sales of electricity abroad in 2010, doubling the amount sold for the previous year. In 2010, Bulgaria exported 7500 GWh, while the amount for 2009 was 3700 GWh, announced the National ... More