In the second week of April, settlement prices for Brent oil futures in the ICE market remained below $70 per barrel. On Tuesday, April 8, these futures reached their weekly minimum price at $62.82 per barrel, the lowest since April 7, 2021. However, a 4.2% increase in prices saw the futures reach their weekly peak […]
Greece is preparing to open a tender for offshore oil and gas exploration in the waters south of Crete by the end of April, Energy Minister Stavros Papastavrou announced at the 10th Delphi Economic Forum. The move follows a formal expression of interest from U.S.-based energy giant Chevron. Minister Papastavrou stated that the first government
In the first week of April, Brent oil futures for the Front Month on the ICE market remained above $74 per barrel during the first three sessions. On April 2, the futures reached a weekly peak settlement price of $74.95 per barrel, marking the highest level since February 21. However, by Thursday and Friday, prices
Serbia hires BlackSummit capital for lobbying amid US sanctions on NIS Read More »
In response to US sanctions targeting its energy sector, particularly the oil company NIS, the Serbian Government has enlisted the lobbying services of BlackSummit Capital. The firm’s role is to assist Serbia in navigating the sanctions imposed on NIS, which is partly owned by the Russian company GazpromNeft. A document from the US Department of
Serbia: Oil pipeline to Hungary set to boost diversification and lower costs by 2027 Read More »
Serbian President Aleksandar Vučić has announced that the design phase for the new oil pipeline to Hungary will be completed by the third quarter of this year, with construction slated to begin in the fourth quarter. The pipeline is expected to be fully operational by the first quarter of 2027, with an investment estimated at
Serbia: Refinery in Smederevo to be in line with the highest EU standards Read More »
Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović, recently finalized a framework agreement with “China Energy International Group” to construct an oil processing plant in Smederevo, aimed at producing derivatives in line with EU standards. This development has sparked discussions regarding the necessity of another refinery in the country and its implications, particularly concerning existing Russian-owned refineries. Handanović
