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Energy Industry

Nabucco: Flop for OMV and EU

Petrom will resume exploration drilling in offshore Black Sea block.

June 27, 2013

Austria: Harsh Blow for OMV

The pipeline “Nabucco”, a project with Austrian energy enterprise OMV taking the lead, will not receive gas from the gas field Sha Deniz II. This was announced by the mineral oil company on Wednesday.

June 26, 2013

Ukraine Could Become Energy Hub in Europe

According to EU Enlargement Commissioner Füle, Ukraine is an important partner of the EU.

June 26, 2013

OMV Starts Seismic Acquisition in Bulgaria

OMV and partners start seismic acquisition activities offshore Bulgaria.

June 25, 2013

US: Active Investor in Romania

US companies remained active investors in Romania last year. Particulary the IT sector, automotive industry and oil/gas sector are increasingly strengthening their local position. Foreign direct investments from the US came at more than $ 1bn.

June 24, 2013

Rosneft to Supply China Over 25 Years

Russia’s Rosneft agreed to double oil supplies to China, in a deal worth $ 270bn.

June 24, 2013

Russia: Putin Changes Personnel at Ministry of Economics

In the light of the menancing recession, Russian president Vladimir Putin has reorganized the leaders of economic policy-makers.

June 24, 2013

OMV Signs Deal with ADNOC

OMV signs upstream exploration agreement with the Abu Dhabi National Oil Company.

June 24, 2013

Russia to Improve Relations to China

Russia turns its back on Europe and starts focusing on Asia instead in regard to oil export.

June 21, 2013

EVN Arbitration Proceedings Against Bulgaria to Start

EVN AG commences investment treaty arbitration against the Republic of Bulgaria.

June 21, 2013

Eder Appeals for Reindustrialization in Europe

In an interview with Austrian daily „Kurier“, Wolfgang Eder, CEO of Austrian steel producer voestalpine talks about the future of the European steel industry and the differences to the US energy policy.

June 20, 2013

Lopatka: "EU Enlargement is a Driver for Reforms and Rule Of Law"

State Secretary Lopatka on DARUM EUROPA information tour.

June 18, 2013

EVN to Release Shares To Employees

EVN plans to release own shares to employees.

June 14, 2013

Changes at EVN: Reduction of the Board

The Supervisory Board of EVN AG has decided in its meeting on June 12th, not to fill the vacant position due to the retirement of the Member of the Board Herbert Pöttschacher.

June 13, 2013

Verbund to Write Off Gas Power Plants

During an analyst’s conference in London and after the closing of the stock exchange, energy company Verbund announced dampened earning prospects.

June 13, 2013

Verbund Puts Wind Farms in Romania into Operation

One of the largest onshore wind farms of Europe with a 225 megawatt capacity near the Black Sea coast.

June 13, 2013

Gazprom Withdraws from Greek Privatization Offer

The months of courtship were in vain. The Russian enterprises Gazprom and Sintez allowed the period prescribed for the privatization of Greek gas company Depa to expire.

June 12, 2013

EU Abandons Quarterly Reports

Listed enterprises in the European Union do not have to present quarterly reports from 2015 on.

June 12, 2013

Macedonia to Join South Stream Pipeline Project

Contracts will be signed next week in St. Peterburg.

June 12, 2013

Bulgaria: Protests Against Shale Gas Exploration

Protests will make it problematic for the new Bulgarian government to lift the moratorium on shale gas exploration.

June 10, 2013

Turkey: Erdogan Demands Peaceful End Of Protests

After his return from Northern Africa, Turkish Prime Minister Recep Tayyip Erdogan has demanded an immediate stop of protests in his country. Many Russian investors are supposed to have drawn their assets from Turkey.

June 8, 2013

Lopatka: "Visa Cooperation Reinforces Mutual Ties Between Austria and the Czech Republic"

Austrian State-Secretary on the signing of a new agreement and working meetings in Prague.

June 4, 2013

Russia: Gazprom Looking for Alternative Markets

After 40 years of a surge in revenues, Russian energy giant Gazprom has to face turbulent times in Europe.

June 3, 2013

Rosneft to Take Over Itera

According to a newspaper report, Rosneft intends to take over Russia’s second biggest gas supplier Itera for around € 2.3bn.

May 28, 2013

Czech Republic: Russia to Offer Significant Investments in Return for Temelin Tender

Czech Prime Minister Necas emphasized on the transparency of the decision.

May 28, 2013

Turkey: Next Step Towards EU

According to Reuters, Turkey can now hope for its long-awaited next step towards an EU entry in June. France has lifted its opposition to the country’s EU Accession talks. Experts point out the great economic potential the country offers.

May 28, 2013

Romania to Enhance Shale Gas Production

Romania has announced to soon launch further tenders to increase the exploration of shale gas.

May 27, 2013

Serbia to Receive Russian Support in South Stream Project

Russia to provide € 1.7bn for construction of South Stream gas pipeline project in Serbia.

May 27, 2013

Poland: Dispute Over Shale Gas Law

Polish Finance Minister Jacek Rostowski has criticized the Environment Ministry for the planned national participation in the production of shale gas.

May 24, 2013

Poland: Hold on Tax to Attract Investors

Hydrocarbons tax on hold till 2020 to enhance investments in shale gas.

May 23, 2013

Bulgaria to Table Bill of Amendments in Energy Sector

New regulations will be drafted when caretaker government leaves office.

May 23, 2013

Leitl: „EU Has To Deliver Clear Confession to Business Location Europe”

According to Leitl, the EU Summit has to deliver a “clear confession to business and industrial location” Europe.

May 22, 2013

Joint Nabucco-Declaration Signed by Governments

Austria, Hungary, Romania, Bulgaria, Turkey adopt Nabucco joint declaration.

May 22, 2013

Petrom to Invest in Oil Field Redevelopment

OMV Petrom invests € 90m for the Oprisenesti oil field redevelopment.

May 21, 2013

Croatia‘s and Hungary‘s Fight About Oil Company Ina

The dispute between core shareholders of Croatian oil producer Ina has started anew.

May 17, 2013

Three Major Energy Companies to Withdraw from Poland

After ExxonMobil two other huge energy enterprises left Poland after unsucessfully drilling for shale gas.

May 16, 2013

Voestalpine Hopes for Participation in South Stream Project

CEO Eder announced the Austrian Steel Manufacturer was leading “intensive” talks with Russian energy company Gazprom.

May 16, 2013

Bosnia, Serbia and Turkey to Sign Economic and Trade Agreement

Ministers for trade and economy from Ankara, Belgrade and Sarajevo agreed to improve economic relations in an effort to enhance shared trade.

May 15, 2013

Ukraine and Poland Could Be Future Leaders in Shale Gas Production

Management consultant enterprise A. T. Kearney regards Poland and Ukraine as the future European leaders in the productin of shale gas.

May 15, 2013

Prolongation of Nabucco Exemption Confirmed

National Regulators Confirm Prolongation of Nabucco Exemption

May 14, 2013

Bulgaria: CEZ to Keep License

Former PM Borisov had been critical of CEZ in Bulgaria. Energy Minister Vasilev annouced the power supplier would not lose its license.

May 13, 2013

Romania Seeks Energy Independence

The Black Sea has huge deposits in gas which Romania wants to use to achieve energy autonomy.

May 8, 2013

Gazpromneft-Aero Signed Major Contract With Turkish Airlines

Gazpromneft-Aero signed a long-term contract with the Turkish airline transport company to refuel all flights.

May 8, 2013

Czech Republic: Extraordinary Income Boosts CEZ Results

Increase in net profits by 24 % results from revenues from the certificates and integrations.

May 8, 2013

OMV: Investments in Austria to Increase to € 450m

With extra investments OMV intends to improve the exploration of domestic production fields. However, there are currently losses in the gas business.

May 7, 2013

Slovenia: South Stream Gas Pipeline Project to Get National Priority Status?

Russia urges Slovenia to give the South Stream gas pipeline project national priority status.

May 6, 2013

CESEE: Business Climate Index Dropped in April

Enterprises in CESEE countries remain cautious for the most part.

May 2, 2013

Austria: EVN Results Expected to Be Below Estimates

EVN specifies expected consolidated Group net profit as of 09/30/2013

May 2, 2013

Romania: US Chevron to Explore for Shale Gas

Chevron gets green light for exploration of shale gas in Dobrogea blocks.

May 2, 2013

Verbund: Result Decreased Significantly by 40.3 %

Negative Earning Trend for Quarter 1/2013 in a difficult energy and general economic environment.

May 2, 2013