Greece

Italgas, Europe's largest gas distributor, aims to complete the acquisition of 2i Rete Gas before the end of the month or at the start of April. This was stated by its CEO Paolo Gallo on Wednesday. The group would then plan a capital increase of 1 billion euros to help finance the deal. Gallo stated at a conference call following the results that the capital increase would take place "before the summer and in any event before the end the second quarter" if the market conditions allowed it. The Italian group has agreed to purchase 2i Rete gas in an...

U.S. oil manufacturer Chevron has actually revealed an interest in exploring for hydrocarbons in Greece, southwest of the Peloponnese peninsula and as much as the west of the island of Crete, the Greek energy ministry stated on Monday. The ministry added in a statement that it would release a. decision this week on the precise area of exploration and would. launch an international tender soon. It is a very essential advancement, part of our nationwide. method for energy self-reliance and lowering energy expenses, the. ministry said. Chevron did not immediately respond to an ask for comment. The existing research study...

Greece taken in 30% more natural gas in 2015 than in 2023 as power manufacturers, huge markets and domestic customers increase their use, gas grid operator DESFA stated on Tuesday. Gas consumption rose to 66 terrawatt hours from 50.9 terawatt hours in 2023, DESFA said. Imports of pipeline and melted gas stood at 69.4 terrawatt hours, with over half coming through the Sidirokastro entry point, DESFA stated. The route has been traditionally used to import gas from Russia through Bulgaria. Liquefied natural gas amounted to 30% of overall imported gas last year after Greece opened a second LNG terminal in...

Evangelos Marinakis, a Greek shipping tycoon and owner of English Premier League soccer club Nottingham Forest, was on Thursday implicated of trying to fix a Greek soccer match, in a London libel lawsuit he is bringing over an alleged character assassination in Britain. Marinakis introduced the libel case against Irini Karipidis, chair of Greek Super League club Aris Thessaloniki, and others at London's High Court this year. He declares Karipidis was behind a site containing allegations Marinakis was associated with match fixing, drug smuggling and shipping Russian oil in breach of sanctions, which he highly denies. Marinakis' legal representatives state...

Greece and Turkey will check out whether they can start talks targeted at demarcating their maritime zones, Greece's foreign ministry said on Wednesday. Neighbours Greece and Turkey, both NATO allies but historical opponents, have actually been at odds for decades over a range of concerns from airspace to maritime jurisdiction in the eastern Mediterranean and ethnically split Cyprus. A contract on where their maritime zones begin and end is crucial for determining rights over possible gas reserves and power infrastructure schemes. Stress have actually eased recently and both countries agreed last year to reboot their relations, pledging to keep open...

DEPA Commercial, Greece's. biggest gas provider, has actually protected a loan of 390 million euros. ($ 423.19 million) from the European Investment Bank (EIB) to. build solar parks across the country. The loan will assist state-controlled DEPA financing more than. two-thirds of scheduled investment worth about 500 million euros. in new solar plants in the next four years, DEPA stated in a. statement late on Tuesday. The plants will be integrated in Macedonia, Thessaly and other. parts of Greece's mainland and will produce about 800 megawatts. of power, equivalent to the annual electricity taken in by about. 278,000 families, DEPA...

Greece will extend a. windfall tax on energy companies to support lowincome. pensioners and make COVIDera barrel cut on coffee and taxi. long-term, Prime Minister Kyriakos Mitsotakis stated on Thursday. Greece has actually been battling with a cost-of-living crisis and. despite a financial recovery after a decade of discomfort, incomes are. still below the European Union average, while food rates were. up more than 20% in 2022-2023 from the previous year. I believe it's a relocation of social justice, Mitsotakis stated. during a radio interview, days after he reshuffled his cabinet. following an even worse than anticipated EU vote result....

Abu Dhabi stateowned renewable resource firm Masdar will develop 2 solar plants and a. wind farm in Azerbaijan with 1 gigawatt of capacity, it said on. Tuesday. Masdar signed arrangements with Azeri state oil firm Socar for. the tasks on Tuesday. We are holding 75%, Socar is holding 25%, Maryam Al . Mazrouei, Masdar's head of development and investment for the. CIS region, informed . The 445 MW Bilasuvar Solar PV Job and the 315 MW. Neftchala Solar PV Project are anticipated to become functional by. completion of 2026 or early 2027 and the 240 MW Absheron-Garadagh. Onshore Wind Job...

The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Tuesday: ** Hess Corp shareholders will vote on Chevron's. proposed $53 billion acquisition of the company, after. lots of financiers have actually called for a hold-up in hopes of obtaining a. much better deal for their shares. ** OTE Telecom, Greece's most significant telecoms. operator, remains in talks with West Network Invest for the capacity. sale of its Romanian mobile business, Telekom Romania Mobile, it. stated late on Monday. ** Japan's Asahi Kasei said it used to get. Calliditas Therapeutics for about 11.8 billion. Swedish crowns ($...

Greece's Helleniq Energy stayed with its plan to install more eco-friendly capacity in the coming months however stated on Thursday it was worried about restrictions related to power grids and a lack of energy storage. Helleniq, Greece's biggest oil refiner, runs solar and wind parks with a total capacity of 381 megawatts with plans to boost that to 1 gigawatt within the next 18 months, Chief Executive Officer Andreas Shiamishis stated when talking about first quarter outcomes. But (we) stay careful, as obstacles associated with grid restraints and storage technologies stay unsolved, he added. Tapping its plentiful solar and wind...

The Greek navy on Wednesday extended an advisory effectively prohibiting ship traffic off the coast of the southeastern Peloponnese that two sources said was focused on deterring shiptoship transfers of Russian oil off Greece. Greece, in an uncommon relocation, over the past weeks has provided two NAVTEX notices for military exercises in the Laconian Gulf area, prompting merchant and other vessels to prevent the area. One of them was provided on May 1. It was at first ending on May 9 however was extended today, said a defence ministry official who decreased to be named. Following Russia's intrusion of Ukraine...

Houthi militants in Yemen have actually stepped up attacks on vessels in the Red Sea, impacting a shipping route important to eastwest trade. Some shipping companies have actually responded by instructing vessels to sail around southern Africa instead, a longer and for that reason more pricey route. Below are actions taken by business (in alphabetical order): C.H. ROBINSON The international logistics group stated on Dec. 22 it had actually rerouted more than 25 vessels around Africa over the previous week, and that number was likely to grow. CMA CGM The French shipping group has suspended most Red Sea trips however...

The Bulgarian prime minister Rosen Zhelyazkov announced on Thursday that his government is seeking an interim agreement to resolve the impasse with Greece over an expired water contract which has led to protests from Greek farmers. According to a reparations agreement signed between the two countries in 1964, water from the mountains of Bulgaria has been flowing freely down the Arda river into the Evros Plain, a 50,000-acre (20,000-hectare) plain located in northern Greece. The agreement expired in July last year, alarming Greek Farmers who depended on it to maintain their crops. In recent weeks, they set up tractor blocksades...

Downpours flooded homes, companies and roadways in the popular Greek tourist island of Rhodes on Sunday, requiring authorities to temporarily prohibit the use of lorries as Storm Bora pounded the nation for a second day. On Saturday, a guy died in flash floods which struck another Greek island in the northern Aegean. The fire service received more than 650 calls to pump water out of flooded buildings on Rhodes island and left 80 people to much safer ground, with the city of Ialysos struck the hardest. No injuries were reported. Cars and particles were piled up high in the flooded...

When Anastasios Zakalkas pulled up the ropes of his mussel farm in the Aegean Sea last month, the destruction was clear: the lines were not heaving with molluscs as they need to be at harvest however were instead filled with cracked, empty shells. It is the second time in 3 years that tape sea temperature levels have actually hit the mussel harvest in northern Greece, where farmers said they saw a 90% drop in the 2024 catch. Next year will be a dud too, Zakalkas said, because all the seed for the coming season likewise perished. The destruction we suffered...

At least 2 people died as wildfires raged in central and northern Portugal on Monday, forcing authorities to evacuate villages, close motorways and ask the European Union to send more water-bombing airplane. The circumstance was most harmful in the northwestern Aveiro district where one forest blaze reached the borders of the town of Albergaria-a-Velha and burned numerous houses, the mayor said. More than 1,100 firefighters were battling that fire and three others in the surrounding location. Cops shut a stretch of the main highway in between Lisbon and Porto as thick smoke blanketed the location. Authorities stated officers had actually...

Greece stated on Tuesday it would provide emergency situation compensation totalling countless euros to hundreds of households and companies affected by a blaze that killed one lady and torched 10,000 hectares near Athens. The blaze started on Aug. 11 near the town of Varnavas, 35 km ( 22 miles) from the capital, and within a day reached the city's. northern residential areas on the slopes of Mount Penteli, among the last. forests near Athens. Assessments so far have actually identified some 146 houses significantly. harmed, with 31 services likewise affected. Authorities will provide to 150,000 euros ($ 166,650) to. homes,...

Private investigators presume a. defective power cable television might have caused Greece's worst wildfire this. year, said sources close to a probe over the blaze that killed. one woman and torched 10,000 hectares near Athens, covering a. total location about the size of Paris. The blaze, which started on Aug. 11, broke out from a forest. off Varnavas town, 35 km (22 miles) from the capital and into. Athens' northern suburbs, a few of which had actually never seen a. wildfire before, within a day. Authorities have actually questioned Varnavas citizens as part of. their investigation into what caused the...

Vangelis Ilias was returning from vacation on Monday when pals contacted us to tell him the unthinkable. A wildfire in forests north of Athens had suddenly came down on his residential area and was approaching his sculpture workshop. Minutes later, the 55-year-old's store on a plot between storage facilities, fields and a wood seller in Vrilissia, 10 km (6. miles) from the city centre, had been devoured by Greece's worst. fire this year. Like numerous in Vrilissia, Ilias was surprised. When he started. his company there two years back, he never ever believed wildfires. would reach so close. Standing at...

Greece's worst wildfire of the year killed one woman and continued to burn on the borders of the capital Athens on Tuesday, although lighter winds and firefighting efforts helped in reducing its intensity, authorities stated. Numerous firemens backed by six waterbombing aircraft battled the blaze that broke out on Sunday near the town of Varnavas 35 km (20 miles) north of Athens. Stoked by gale-force winds, the blaze jumped from a wooded, hilly location into the suburban areas on Monday, torching homes and stirring panic in neighbourhoods that had not seen such a fire so close to the centre in...

Residents fled their homes in the town of Varnava near Greece's capital Athens on Sunday as fire teams struggled to consist of a fastmoving wildfire fuelled by hot, windy weather condition. More than 250 firefighters backed by 12 water-bombing airplanes and seven helicopters battled the blaze that broke out at 3 p.m. and quickly reached the town some 35 km north of Athens. By late afternoon, a thick cloud of brown smoke hovered over. parts of the capital. Authorities sent out evacuation alerts for 5 nearby areas. The fire got in the village within 10 minutes. The winds. were very...

Wildfires fanned by strong winds raged in parts of Greece and the Balkans on Tuesday, burning forests and homes while requiring the evacuation of a resort town in Albania, regional authorities said. The area has seen above-average temperatures and dry conditions over the past month that have created suitable conditions for wildfires, researchers state. Flames swallowed up pine trees surrounding a hotel complex in the Albanian coastal town of Shengjin, where authorities evacuated citizens. In North Macedonia, a blaze near the Greek border burned 5 homes and resulted in evacuations, local officials stated. Locals informed regional media that electricity and...

More than 200 firemens backed up by helicopters and watercarrying aircrafts battled a wildfire on Greece's secondbiggest island of Evia for a 2nd day on Tuesday as authorities purchased the evacuation of 2 towns. The fire broke out near the village of Petries in the centre of the island at about 3 p.m. (1200 GMT) on Monday and strong winds fuelled its spread. While the scenario had a little improved on Tuesday, flare ups stay a threat due to the windy conditions, a fire service representative stated. Thirteen aircraft and 6 helicopters were at the scene on Tuesday about 60...

Hundreds of firemens had a hard time on Saturday to include wildfires fanned by gale force winds on 2 Greek islands and in other parts of Greece, as authorities warned many areas deal with a high risk of brand-new blazes. More than 30 firefighters backed by two airplane and five helicopters were fighting a wildfire burning? n the island of Andros in the Aegean, away from tourist resorts, where four communities were left as a preventative measure. More firefighters (are) expected on the island later in the day, a fire services official informed , adding there were no reports of...