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Nord Stream Utilisation Averages 80% in 2016 – 43.8 bcm Transported to the European Union
In 2016, the Nord Stream Pipeline operated at 80 per cent of its annual capacity of 55 billion cubic metres (bcm). 43.8 bcm of natural gas were delivered to consumers in the European Union. This is yet another increase compared…
OPEC Meeting in Vienna Last Weekend
In December, OPEC’s production fell by 220,900 barrels a day to 33.085 million barrels a day, with the biggest drops coming from Saudi Arabia and Nigeria, according to secondary source data in the group’s monthly report published on 18 January.…
Bulgaria and Serbia Signed Memorandum of Understanding on Gas Interconnector
Bulgarian outgoing Minister of Energy Temenuzhka Petkova and her Serbian counterpart – Minister of Energy and Mining Aleksandar Antić, inked a Memorandum of Understanding on the project for construction of a gas interconnector between Bulgaria and Serbia, FOCUS New Agency…
A Six Month Probation?
The output cuts announced by OPEC and eleven non-OPEC producers have entered their probation period and it is far too soon to see what level of compliance has been achieved. The coming weeks will provide more clarity and in the…
The OPEC Monthly Oil Market Report
The OPEC Monthly Oil Market Report covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends…
Saudi Aramco CEO Says Oil Will Dominate over Renewables for Decades
Demand for oil and gas will continue to grow for the next few decades and any fall in capital investment for the industry will cause “spikes” in prices and affect the global economy, according to the president and CEO of…
Secretariat Questions Legality of Serbia-Russia Intergovernmental Agreement on Natural Gas Supply
On 12 January 2017, the Secretariat sent an Opening Letter to Serbia in Case ECS-18 In its Letter, the Secretariat addressed a 2012 Agreement between the Serbian and Russian governments on the supply of natural gas to Serbia. The Agreement…