• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 2 hours Which producers will shut in first?
  • 39 mins What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 45 mins Its going to be an oil bloodbath
  • 6 hours The Most Annoying Person You Have Encountered During Lockdown
  • 3 hours Why should ANY oil company executive get ANY bonus now?
  • 11 hours Saudi Aramco struggling to raise money for this year's dividend of $75 billion. Now trying to sell their pipelines for $10 billion.
  • 11 hours How to Create a Pandemic
  • 15 hours KSA taking Missiles from ?
  • 17 hours Dr. Fauci is over rated.
  • 10 hours Russia's Rosneft Oil Company announces termination of its activity in Venezuela
  • 8 hours A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 17 hours Breaking News - Strategic Strikes on Chinese Troll Farms
  • 17 hours CDC covid19 coverup?

Breaking News:

IEA: OPEC Can’t Save The Oil Market

An Oilman’s Plea To President Trump

An Oilman’s Plea To President Trump

Oil markets are reeling from…

Greek Deputy Environment Minister - Greece Will Exploit its Oil

Greek Deputy Environment Minister - Greece Will Exploit its Oil

In a situation certain to raise tensions with neighboring Turkey, Greece has announced its intention to proceed with the development of its undersea hydrocarbon resources in the Eastern Mediterranean.
 
To that end, Athens has already solicited tenders for seismic research in three areas of the Ionian Sea and in southern Crete. According to Greek Deputy Environment Minister Giannis Maniatis, the Israeli company Delek has already expressed interest in exploring off southern Crete.
 
When asked during an interview about the existence of hydrocarbons in Greek waters Maniatis replied, “The Ionian Sea has proved to be a good area while Southern Crete creates serious expectations. If we add to that the encouraging elements from the well-known maritime areas in northern Greece, then we can be optimistic. The Aegean is an unexplored area with little seismic research,” Kathimerini newspaper reported on 31 January.
 
When queried as to when the initial seismic research would be competed Maniatis noted, “Everything will be completed by next fall and the Greek public will receive a full package of all the facts. Immediately afterwards we will call a normal licensing round for research and exploitation in the area of the Ionian Sea and southern Crete, which will include 10-15 blocs. The first good source of revenue for the Greek public is expected during the licensing of the blocks in the Gulf of Patras, the Ionian Sea off Ioannina, and off Katakolo, which will be up for tenders during the next few days… The (speculative) assessments with regards to the specific areas mention 250-300 million barrels of oil or, to put it in another way, net revenue for the Greek public worth $15-20 billion over a period of 20-25 years. The country can expect to cover up to 30 percent of its overall oil needs from local sources.”

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News