Members of US Congress urge Tillerson to take strong stance on Turkish threats against Cypriot EEZ - CYPRUS MAIL

1 JULY, 2017
By Apostolis Zoupaniotis

Thirty-six members of the US House of Representatives encouraged US Secretary of State Rex Tillerson to continue the active engagement by the State Department in the Eastern Mediterranean, including against Turkish threats concerning the Cypriot Exclusive Economic Zone (EEZ).

In a letter, the Representatives urged Tillerson to maintain a strong stance against rhetoric and provocations that threaten the spirit of cooperation and progress that has emerged in the region in recent years.

On July 13 energy giant Total is scheduled to begin exploratory drilling off Cyprus.

“We are writing to encourage continued active engagement by the State Department in the Eastern Mediterranean, and in particular to urge a strong stance against rhetoric and provocations that threaten the spirit of cooperation and progress that has emerged in the region in recent years,” the letter said.

Libyan oil output exceeds 1 MMbpd for first time in four years - WORLD OIL / REUTERS

Libyan exports before the outbreak of the civil war

JUNE/30/2017
AHMAD GHADDAR

LONDON (Reuters) - Libya's oil production has risen to 1.012 MMbopd, a Libyan oil industry source told Reuters on Friday, topping 1 MMbpd for the first time in four years.

State-owned National Oil Corporation (NOC) had targeted reaching 1 MMbpd by the end of July.

Output has been helped by an interim deal with Germany's Wintershall to resume production amid a contract dispute.

On Thursday, the same source said production had been fluctuating between 950,000 bpd and close to 1 MMbpd due to technical and power generation problems.

He expected production to stabilize at the higher end of that range "very soon".

Petrogress, Inc. Enters Into MOU to Acquire Interest in Cyprus Shipyard - PETROGRESS / MARKETWIRED

June 30, 2017 09:00 ET

Company Provides Bridge Financing and Commences Due Diligence

NEW YORK, NY--(Marketwired - Jun 30, 2017) - Petrogress, Inc. (OTC PINK: PGAS) announced today that it has entered into a Memorandum of Understanding with F & T Investments, Ltd., a Cyprus company. The parties have agreed to open a due diligence channel in furtherance of a future partnership or other combination to assist in a significant renovation of the F & T Shipyard in Limassol, Cyprus, and a joint facilities management and marketing agreement. In addition, Petrogress has provided F & T with interim financing to be credited against a possible capital financing arrangement.

F & T has managed operations of the Shipyard in the New Port of Limassol, the sole commercial port facility in Cyprus, for over 30 years, providing ship repair services, offshore rig construction, oil field services and shipyard support. The Shipyard is complete with a floating dry dock, private berthing facilities, machine shop and covered workspaces. F & T and Petrogress will study expansion of the Limassol Shipyard to significantly expand these facilities to provide services and support to the Aphrodite and Leviathan Gas Fields off the Cypriot and Israeli coasts, and other offshore development and production projects in the Cyprus Exclusive Economic Zone.

Sanalla Pays Visit to Al Sharara - PETROLEUM AFRICA

Friday, June 30, 2017

The chairman of Libya’s National Oil Corp. (NOC), Mustafa Sanalla, paid a visit to the Al Sharara oilfield recently where he met with safety and security officials from the field. The Al Sharara is the oil field where an employee drowned in the swimming pool in early June.

Sanalla extended his deepest condolences on the death of Ibrahim Abu Grasa and told workers he was there to listen to the problems of the workers and check on their conditions at the field.

The NOC chairman also paid a visit to the field’s production units, Contract Area No. 186, Early Production Area, Contract Area No. 115 and the requisite facilities where he listened to detailed explanations on the work progress. In addition he discussed with workers the problems and difficulties that they were facing in their efforts to maintain or increase production rates.

Sanalla promised to continue working hard in order to mitigate the difficulties that were discussed in spite of the difficult financial circumstances of the oil sector. The delegation also visited the accommodation of the guards and looked at the living conditions of the individuals assigned to guard the field which have to be improved.

Energy Minister Lakkotrypis “cautiously optimistic” oil majors will discover more gas finds offshore Cyprus - NEW EUROPE

Energy Minister Yiorgos Lakkotrypis, Republic of Cyprus

JUNE 30, 2017 UPDATED 10:51 
Kostis Geropoulos

LAGONISSI, GREECE – Cyprus, Greece, Israel, Italy and the European Commission are committed to push forward a pipeline project to export recent gas deliveries from the East Mediterranean region, Cyprus’ Energy Minister told New Europe on June 29.

“I think the commitment of the four countries that are involved and the Commission was proven when we had the quadrilateral meeting in Tel Aviv and continues to be so when we had the trilateral just a few days ago in Salonica between Greece, Cyprus and Israel,” Cyprus Energy Minister Yiorgos Lakkotrypis said in an interview on the sidelines of a conference in Lagonissi, south of Athens.

Egypt raises fuel prices by up to 50% under IMF deal - HYDROCARBON PROCESSING / REUTERS

6/29/2017Reporting by Abdelrahman Adel; Additional reporting by Amina Ismail; writing by Patrick Markey; editing by Mark Heinrich

CAIRO (Reuters) — Egypt on Thursday hiked fuel prices by up to 50% to help meet terms of a $12 B IMF loan deal, a sharper rise than expected by many struggling with soaring living costs and a further test of President Abdel Fattah al-Sisi's popularity.

Fuel price increases had been widely anticipated as part of Egypt's loan accord with the International Monetary Fund and Thursday's measures were the second rise since the government floated the pound currency in November.

Government officials say spending cuts will help revive an economy where subsidies have accounted for about a quarter of state expenditures. But austerity carries risks for Sisi as inflation and a contested deal to hand two Red Sea islands to Saudi Arabia have eroded his public standing.

Cyprus to push ahead with energy plans despite challenges - WORLD OIL / REUTERS

O&G companies active in Cyprus' EEZ

JUNE/29/2017

By KAROLINA TAGARIS AND ANGELIKI KOUTANTOU

ATHENS (Reuters) - Cyprus will push ahead with its oil and gas development plans despite potential setbacks, including the decades-long Cyprus conflict, its energy minister said on Thursday.

Cyprus is keen to develop its energy sector to bolster an economy that relies largely on tourism and business services. But its efforts could be complicated by the island's division between Turkish Cypriots and Greek Cypriots [since the 1974 Turkish invasion and the forced removal from the north of its 85% majority Christian population in its entirety].

Turkey, which supports a breakaway Turkish Cypriot state in northern Cyprus, says the island's Greek Cypriot-led government has no right to explore for hydrocarbons.

On Wednesday, Greek Cypriot and Turkish Cypriot leaders began fresh reunification talks in what United Nations mediators say represents the best chance at peace in decades.

Libyan crude gushes into tankers as nation's output accelerates - WORLD OIL

JUNE/28/2017
RUPERT ROWLING

LONDON (Bloomberg) -- Libyan oil shipments are poised to hit their highest level in at least three years in the latest sign the North African country is managing to sustain a production revival.

Exports are on course to reach about 715,000 bpd this month, the most since July 2014, when Bloomberg began monitoring Libyan shipments, tanker-tracking data show. With relatively limited capacity to process that crude in its domestic refineries, the shipments have been moving in lock-step with production.

Libya’s surging output is a key factor helping to undermine the Organization of Petroleum Exporting Countries’ efforts to reduce global supply and increase oil prices. The group met last week in Vienna to discuss how to deal with rising production in Libya and Nigeria -- both OPEC nations exempt from supply curbs -- rather than deepening output cuts by other members. U.S. production climbing to the highest since August 2015 has further derailed OPEC’s efforts.

National seismic exploration vessel Oruç Reis ready to survey Black Sea - DAILY SABAH / ANADOLU AGENCY

The 86-meter-long, 22-meter-wide vessel will be able to stay
at sea for 35 days with full fuel and water reserves

28.6.2017

As Turkey continues to take steps to boost its position as a major energy player in the region, the second of two seismic exploration vessels, the Oruç Reis, is ready to undergo exploration work in the Black Sea

After the completion of all necessary tests, a national seismic exploration vessel, the MTA Oruç Reis, is ready to begin oil and natural gas exploration in the Black Sea. Turkey's premier seismic exploration vessel, the Barbaros Hayrettin Paşa, which is conducting seismic research [against international maritime law] off of the coast of the Republic of Cyprus, will be joined by the Oruç Reis, which will also survey for oil and natural gas in the Mediterranean. Built in a shipyard in Tuzla, the vessel, more than 90 percent of which was domestically manufactured, cost around TL 400 million ($113.67 million).

El Molla Reviews GPC Work - EGYPT OIL & GAS

Wednesday, 28th June 2017

A press release to Egypt Oil&Gas stated that the Minister of Petroleum and Mineral Resources, Tarek El Molla, praised the work results of the state-owned General Petroleum Company (EGPC) upon receiving a report from GPC’s CEO, Moustafa Taher, around the work status in Ras Sedr, Asal, and Matarma fields in Sinai.

El Molla pointed out the importance of commitment in executing the Egyptian oil and gas production plans, aiming for production from new and existing fields in oil and gas concession areas like Sinai through using new technologies.

The minister further highlighted the importance of establishing productive projects according to schedule and of achieving required performance based on health and safety standards.

Gazprom may exit domestic Turkish natural gas market - RUSSIA TODAY

Pioneering Spirit, the vessel to construct the offshore part of the Turkish
Stream gas pipeline passes Istanbul on May 31, on the way to Russia 

28 Jun, 2017 09:43

Russian gas monopoly Gazprom is expected to leave the Turkish market and will concentrate on gas sales to Turkey, reports business daily Kommersant.

Gazprombank is completing the withdrawal from Promak, a company which owns a 60 percent stake in the two importers of Russian gas to Turkey - Enerco and Avrasya, the newspaper writes.

Gazprom Deputy Chairman Aleksandr Medvedev said the company plans to sell another Turkish asset - Bosphorus Gaz.

According to Medvedev, the Turkish market is "unpredictable" and loses appeal due to the weakening of the lira and regulated tariffs. Kommersant’s sources in the industry said Bosphorus lost about €100 million in 2016.

Israel Electric wants to reopen Tamar gas deal - GLOBES

28 Jun, 2017 15:58
Nati Yefet

The company is paying $6 per MMbtu compared with $4.70 paid by private electricity producers.

The Israel Electric Corporation (IEC) (TASE: ELEC.B22) board of directors has ordered the company's management to negotiate the reopening of the gas agreement with the Tamar natural gas reservoir partners. IEC is paying nearly $6 per MMbtu, compared with $4.70 paid by the private electricity producers. The price is expected to continue rising, because it is linked to the US consumer price index.

Israel Drilling-rights Auction Draws One Offer So Far; Deadline Extended - HAARETZ

Jun 28, 2017 5:29 AMAvi Bar-Eli

Energy officials put on brave face and extended deadline for proposals for a second time

Israeli energy officials put on a brave face on Tuesday after TheMarker reported that an auction for rights to drill in 24 blocs offshore Israel had attracted only one bid even after the deadline for filing was extended.

TheMarker has learned that the only company to submit a drilling proposal was Greece’s Energean. Two others – Italy’s Edison and Israel’s Shapir Engineering – had purchased the documents and may still act while a fourth – Spain’s Repsol – bought the documents but later backed out.

The Energy Ministry, which had already extended the deadline for submitting proposals to July 10 from February, is extending it a second time to mid-November, officials said.

Wood Group secures FEED for Alexandroupolis LNG project in Northern Greece - PENN ENEGRY - WOOD GROUP

June 27, 2017
PennEnergy Editorial Staff

Wood Group has secured a new front end engineering design (FEED) contract with Gastrade S.A. for the Alexandroupolis Independent Natural Gas System (INGS) offshore Greece.

The project, to develop a floating liquefied natural gas (LNG) receiving, storage and regasification unit (FSRU), will create a new natural gas gateway to the markets of south eastern and central Europe.

Wood Group’s subsea team will perform the design and engineering definition of the Alexandroupolis FSRU and its subsystems which will support the final investment decision for the project, planned for late 2017.

Steinitz: We'll bring large foreign cos to find gas - GLOBES

27 Jun, 2017 12:56
Nati Yefet

Minister of Energy: I'm convinced we'll succeed in bringing here at least three or four sizeable companies to take part in new gas tenders.

Minister of National Infrastructure, Energy, and Water Resources Yuval Steinitz today opened the third annual Energy and Economics conference at the conference center near Ben Gurion Airport. The conference is a joint initiative of the Ministry of National Infrastructure, Energy, and Water Resources, the Manufacturers Association of Israel, the Private Power Producers from Natural Gas Forum, the Green Energy Association of Israel, and the Association of Oil and Gas Exploration Industries in Israel.

Cypriot Unification Talks Carry Israeli-Turkish Pipeline Dream - VOA

UNSG Guterres (left), Cypriot president Anastasiades, March 2017

June 27, 2017 3:06 PM
Dorian Jones

Turkish and Greek Cypriot leaders are set to sit down Wednesday to once again seek to resolve the nearly five-decade-long division of the island. The success of the talks now carries with it potentially far reaching energy implications for the region, involving Turkey, Israel and the European Union.

Israel and Turkey are in talks to develop a major pipeline that would exploit the massive Leviathan gas reserves discovered off the Israel coast.

Cyprus problem and energy issues the focus of talks between Cypriot and French ministers - FAMAGUSTA GAZETTE

Monday, 26 June, 2017

The Cyprus problem, TOTAL`s energy plans in the Republic of Cyprus Exclusive Economic Zone, the deepening of the strategic cooperation between Cyprus and France, regional issues and Brexit will be on the agenda of talks which Foreign Minister Ioannis Kasoulides will have on Monday in Paris with his French counterpart Jean-Yves Le Drian.

According to PIO press release, Kasoulides will also meet with French President Emmanuel Macron`s diplomatic adviser and will have a meeting with the new Minister for Europe Nathalie Loiseau. TOTAL also has invited him to meet with high-ranking officials of the company. During the meeting the company`s drilling programme in the Republic`s EEZ will be reviewed.

As regards the meeting between Kasoulides and Le Drian, the press release said that discussions will focus on the latest developments in the Cyprus problem as France is one of the five UN Security Council permanent members as well as on TOTAL`s energy plans in the Republic`s EEZ.

Russia Pressures Trade and Energy Routes in Eastern Mediterranean - CHARGED AFFAIRS

USS Mount Whitney and Russian Navy ship (EUCOM, © 2015)

26 JUNE 2017
KEVIN TRUITTE

The Eastern Mediterranean Sea is a major strategic point of connection for international shipping and commerce. In recent years, this has drawn the attention of the Russian Federation, which seeks to reassert itself into the strategically important region. Russian military forces in Syria now provide a means to invoke a threat of military force against vital regional economic lifelines and energy resources. Alongside its military, the country has developed its political and economic influences across the region, increasing its non-military leverage over international maritime trade routes and energy flows. As I have previously argued in Charged Affairs, Russia has escalated its military and political presence and the Eastern Mediterranean is part of its strategy to increase its power over the region, a stepping stone on the country’s path to reestablish itself as a global superpower.

Cyprus issues advisory for gas drill starting mid-July - REUTERS

Sun Jun 25, 2017 9:39pm GMTReporting By Michele Kambas; Editing by Andrew Hay

ATHENS, June 25 (Reuters) - Cyprus on Sunday issued a maritime advisory for a natural gas drill from July to October in a step opposed by Turkey, which challenges the divided island's jurisdiction to search for hydrocarbons.

The island has contractual obligations with France's Total which won an offshore exploration licence from the Republic and was scheduled to commence drilling this year.

It takes place as the United Nations plans to start a new bid in the coming week to end the decades-old conflict which has split Cyprus between Greek and Turkish Cypriots.

In an advisory on its website posted Sunday, Cyprus's Joint Rescue Coordination Centre said the West Capella drill ship would be conducting a 'drilling operation' off Cyprus from July 10 to Oct. 15.