oil

Montenegro launches renewed tender for reconstruction of Bar oil storage facilities

Montenegro’s Ministry of Mining, Oil and Gas has issued a new tender for the reconstruction of state-owned oil storage facilities in the coastal city of Bar. The project, aimed at securing the country’s mandatory oil reserves, is estimated at 1.8 million euros and will be financed through European Union funds. The Bar storage site, with […]

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Energy markets rise in early May: Brent, TTF gas and CO₂ prices climb on global demand and trade optimism

During the second week of May, Brent crude oil futures for the Front Month on the ICE market showed a notable upward trend. On Monday, May 5, futures settled at a weekly low of $60.23 per barrel, the lowest level since February 6, 2021. However, prices increased steadily over the following sessions, reaching $63.91 per

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Hungary criticizes EU plan to end Russian energy imports by 2027

Hungarian Foreign Minister Péter Szijjártó has strongly opposed the European Commission’s newly unveiled plan to phase out all imports of Russian gas, oil and nuclear fuel by the end of 2027. The proposed strategy, aimed at eliminating the EU’s dependency on Russian energy, has sparked backlash from Budapest, which relies heavily on Russian supplies. Szijjártó

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Europe: Oil, gas and CO2 prices see fluctuations in third week of April amid global market concerns

In the third week of April, Brent oil futures for the Front Month on the ICE market continued to trade below $70 per barrel. The lowest settlement price was recorded on Tuesday, April 15, at $64.67 per barrel. However, prices increased in the last two sessions of the week, with the weekly maximum settlement price

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Brent oil, TTF gas and CO2 emission allowance prices see fluctuations in April’s second week

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

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Greece to launch offshore oil and gas exploration tender near Crete following Chevron interest

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

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Europe: Oil, gas and CO2 futures see price declines in early April amid trade tensions and rising temperatures

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

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Serbia hires BlackSummit capital for lobbying amid US sanctions on NIS

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

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