(Oil Price)– ExxonMobil is expanding its exploration portfolio offshore Greece with a new farm-in agreement for a block in the northwestern Ionian Sea. ExxonMobil, Energean, and Helleniq Energy have reached a farm-in agreement under which the U.S. supermajor will buy 60% in the Block 2 concession in the northwestern Ionian Sea, next to the Italian Exclusive Economic Zone (EEZ), Energean said on
(Oil Price) – U.S. supermajor Chevron has expressed interest in oil and gas exploration in two additional offshore blocks south of the Greek island of Crete, Greece’s Ministry of Energy and Environment said on Wednesday. Earlier this year, Greece said that Chevron had expressed interest in exploring the area southwest of the Peloponnese peninsula and to the west of the island of Crete. Now, Chevron
Reuters ATHENS – The United States is backing the construction of a subsea pipeline that would supply Europe with natural gas from the eastern Mediterranean, U.S. Energy Secretary Dan Brouillette said on Thursday. Greece, Cyprus and Israel have approved an agreement for the Eastmed pipeline, which has been in planning for several years. The countries aim to reach a final
Reuters JERUSALEM – Seven energy ministers will sign the charter of a new Middle East energy forum that will promote natural gas exports from the eastern Mediterranean to Europe and other markets, Israeli energy officials said on Monday. “The East Mediterranean Gas Forum, which until now has been a stage for discussions only, is in fact becoming a real international
Houston Chronicle Cyprus President Nicos Anastasiades, Greek Prime Minister Kyriakos Mitsotakis and Israeli Prime Minister Benjamin Netanyahu attended in Athens Thursday the signing ceremony for the accord to construct the Eastern Mediterranean natural gas pipeline. The 1,900-kilometer (1,181 miles) link will connect recently discovered, and to-be-found, gas fields in the eastern Mediterranean basin with European markets through Cyprus, Greece and
From The Houston Chronicle An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next destination reported to be Greece. The Iran-flagged Adrian Darya 1, previously named Grace 1, set course for Kalamata, Greece, with
Russian Energy Minister Alexander Novak said the two countries are looking to increase energy ties Moscow is considering shipping natural gas directly to Greece through the Turkish Stream Pipeline, which it hopes to build across Greek territory, reports International Business Times. The pipeline is planned to have a capacity of 47 billion cubic meters per annum, with construction costs of
Euro outflows look likely Greece missed its self-imposed Sunday deadline for reaching an agreement with its lenders for aid, putting pressure on the Euro. The missed deadline led to renewed fears in the market that Greece might default on its debt, or exit the euro zone, reports Reuters. Greece faces a payment to the International Monetary Fund (IMF) on Friday
The recent Greek elections have brought a new party to power that is rethinking offshore deals Greece will review tenders offered on 20 offshore oil and gas blocks in the Ionian Sea and off southern Crete due to be signed by the end of the year, Energy Minister Panagiotis Lafazanis said today. The new leftwing government in Greece will be
