Energy Update
ST PETERSBURG, Russia, June 19 (Reuters) - Greece and Russia signed a memorandum on Friday on extending the planned Turkish Stream gas pipeline to Europe through Greek territory, and Athens said funding would come from Russian state development bank VEB.
The world seems to be using more oil now that it is 40% cheaper than a year ago and especially so in countries enjoying some economic growth momentum.
(Fri, 19 Jun 2015) The European Union (EU) has long sought more reliable ways to produce and distribute electricity and to coordinate its energy markets, including greater cross-border trading of electricity. The February coupling of electricity markets in Italy and France marks the most recent step toward an integrated European market. With this achievement, the majority of EU power markets are now linked.
(Fri, 19 Jun 2015) Data series include fuel, electricity, and steam purchased for consumption at the refinery; refinery receipts of crude oil by method of transportation; and current and projected atmospheric crude oil distillation, downstream charge, and production capacities.
(Fri, 19 Jun 2015) Iran holds the world's fourth-largest proved crude oil reserves and the world's second-largest natural gas reserves. Despite the country's abundant reserves, Iran's crude oil production has substantially declined, and natural gas production growth has been slower than expected over the past few years. International sanctions have profoundly affected Iran's energy sector and have prompted a number of cancellations or delays of upstream oil and gas projects.
KUALA LUMPUR, June 19 (Reuters) - The hijacked oil tanker Orkim Harmony was released by pirates on Friday, who fled in the ship's rescue boat, Malaysian navy and maritime officials said.
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