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Tag Archives: energy

Katakolo oil Reserves four times larger than expected, says Energean Oil&Gas

The quantities of oil at Katakolo are four times larger than initially estimated, with proven reserves amounting to 10.7 million barrels instead of the estimated three million barrels expected during the period of the tender, sources from Greek energy explorer Energean Oil & Gas revealed on Thursday. West Katakolon oil …

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Italy to join trilateral Cyprus-Greece-Egypt energy cooperation

The trilateral cooperation between Cyprus, Greece and Egypt will expand with the participation of Italy, following an initiative of President of Cyprus Nicos Anastasiades, Government Spokesman Nikos Christodoulides has said. In statements on Wednesday at the Presidential Palace, the Spokesman, said that two months ago, the Cypriot President proposed the …

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Third review: Greece’s creditors in Athens to discuss fiscal targets, privatizations, energy

Greece’s top creditors returned to Athens on Monday for meetings and talks with the Greek government. Aim is to proceed with the third review of the Greek program and conclude the procedures by the end of the year. The first meeting on fiscal matter took place with Alternate Finance Minister …

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Increased Israeli interest to invest in Greece’s privatization program, energy, tourism

The environment, energy, tourism and real estate sectors reportedly dominate interest by Israel-based investors eyeing business prospects in Greece, according to reports. Greece’s embassy in Israel has mostly fielded requests by local companies interested in an ongoing privatization program in the still bailout-dependent country. Solid and liquid waste management, a …

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Arab countries cut ties to Qatar for ‘supporting terrorism’, send oil prices higher

Saudi Arabia, Egypt, Bahrain, the United Arab Emirates and Yemen have cut diplomatic ties with Qatar, accusing it of destabilising the region. They say Qatar backs militant groups including so-called Islamic State (IS) and al-Qaeda, which Qatar has denied. The dispute with Qatar, the world’s top seller of liquefied natural …

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Public Power Company PPC hires an Artistic Director for its choir… #NoWords

Greece’s Public Power Company hired an artistic director for its choir. It sounds like a bad musical the moment the PPC announced to retrieve retrospectively €735 million euros from electricity consumers as  outstanding debt have reached 2.2 billion euros. In a job opening that run from March 24 to April …

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Lenders press Greece to sell 40% of PPC lignite units and energy producing plants

Greek Interior Minister – an Energy minister in first SYRIZA government – Panos Skourletis accused on Monday international lenders of reneging on a 2015 bailout deal by trying to force a fire-sale of its main electricity utility Public Power Corporation (PPC/DEH) to serve “domestic and foreign business interests.” Later, a …

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One more Eurogroup for Greece as three major reforms remain open

One more Eurogroup for Greece as eurozone finance ministers meet in Brussels  later on Monday.  One more Eurogroup without great expectations like concluding the second review. The Greek government anticipates a sign of progress and looks towards the next Eurogroup meeting in April. Aim of both sides is to bridge …

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Greece, Israel & Cyprus sign “historical” Cooperation Agreement on Energy

Greek Prime Minister Alexis Tsipras, Israeli Prime Minister Benjamin Netanyahu and Cypriot President Nikos Anastasiades came together to Nicosia and signed a joint cooperation declaration that has been hailed by the three leaders as “historical”.  The three leaders pledged closer cooperation in seven fields: energy, tourism, research and technology, environment, …

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Greece-Egypt-Cyprus Tripartite Summit declaration

A third Trilateral Summit between Greece, Egypt and Cyprus in Athens on Wednesday effectively solidified the foundations of the cooperation between the neighboring countries in the years to come. “Our 3rd Trilateral Summit underlines our well-established and continuous tripartite partnership aiming at promoting peace, stability, security and prosperity in the …

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