oil

The quantities of oil at Katakolo, western Peloponnese, are four times larger than initially estimated, Energean sources revealed on Thursday. Proven reserves amount to 10.7 million barrels, instead of the estimated three million barrels expected during the period of the...

Αt least 800 tons of heavy fuel oil have been pumped so far following the sinking of the tanker "Agia Zoni II" last Sunday in the Saronic Gulf, south of the island of Atalanti. Six fuel cleaning ships and 6...

At an EU draft summit on Thursday, European Union leaders decided to issue a call to Turkey to respect Cyprus’s sovereign rights. The move comes after fresh tensions broke out between the two countries in regards to oil and gas...

The Greek government expects bids from oil companies on oil exploration projects in 20 regions in the Ionian Sea and south of Crete to be submitted by March 2015. This will be followed by at least a three-month period...

The Greek Ministry of Environment, Energy and Climate Change received yesterday three applications for hydrocarbon exploration in the regions of western Greece and Epirus. All three applications were submitted by the Italian energy group Enel, and they concern three separate...

Cyprus, Greece and Israel signed a deal to cooperate over energy and aiming at securing Europe΄s energy supply yesterday. A memorandum of understanding was signed by Cypriot Energy Minister George Lakkotrypis, his Greek counterpart Yannis Maniatis and Israel΄s Silvan Shalom. A...

A New Norway, but in the Mediterranean is the title of Handelsblatt's article about Greece's hopes of solving the economic crisis by exploiting the mineral wealth of the country. According to the financial newspaper, no one is able to speak...

Offshore natural gas could dramatically change Greece's fortunes, should early estimates of €464 billion worth of reserves be confirmed, according to a study presented to Prime Minister Antonis Samaras and seen by Reuters. The study, collating existing scientific data, says...

A Greek shipowner whose family’s oil tankers were hit by missiles during the 1980s Iran-Iraq war said he expects Persian Gulf crude exports to continue after Iran’s threats to block shipments through the Strait of Hormuz. Stable prices of oil,...

The magazine “Epikaira” brings to light secret communications of the Greek Prime Minister with Israel and USA regarding the exploitation of oil and gas resources as a possible solution to the economic crisis. The Exclusive Economic Zones with Cyprus...