International Internet Magazine. Baltic States news & analytics
Thursday, 24.04.2014, 19:09
France and Poland put forward a proposal for a European energy community on Thursday, to counter the dependence of some European countries on Russian gas, the AFP news agency reports, cites LETA.
Keyword tags: Baltic States – CIS, Energy, EU – Baltic States, Gas, Legislation
Biofuel price in Baltpool energy exchange continued to fall on Wednesday. In this week's auction biofuel price fell by 20% compared to the average price in March and on average stood at LTL 513.29 (EUR 148.66) per toe (tonne of oil equivalent), informs LETA/ELTA.
Despite the challenging market conditions in the first quarter 2014, with a low refining margin and shrinking Brent/Ural differential, Polish PKN ORLEN's operating metrics remained close to those from January-March 2013. The ORLEN Group's retail sales came in at a record high, and the petrochemical segment made a significant contribution to PKN ORLEN's performance in the downstream, reports LETA.
Unfavorable macroeconomic conditions and the impact of heavy pressure on margins in the whole European oil refining industry continued to affect ORLEN Lietuva's performance in 1Q2014, ORLEN Lietuva announced in a press release, cites LETA/ELTA.
The negotiations over the purchase of Lithuanian natural gas transmission system operator's Amber Grid shares owned by the German company E.ON Ruhrgas International GmbH are planned to be concluded next week, says Prime Minister Algirdas Butkevicius, informs LETA/ELTA.
On Tuesday Prime Minister of Lithuania Algirdas Butkevicius presented the Government's report of the activities of 2013 to the Parliament. There were still more promises and plans mentioned than completed tasks, informs LETA/ELTA, referring to Lietuvos rytas.
The European Bank for Reconstruction and Development (EBRD) made a decision this month to grant a loan to Estonian shale oil producer Viru Keemia Grupp (VKG), LETA/Public Broadcasting reports.
The system price of electricity at the Nordic electricity bourse Nord Pool Spot (NPS) fell in March in all price regions, the last time the monthly price was as low was in summer 2012, LETA/Postimees Online cites Estonian main grid company Elering.
Estonian environment minister Keit Pentus-Rosimannus formed a working group that will review the legal regulation on bunkering of ships to prevent pollution of the sea, LETA/Delfi reports.
As of April 16, Estonian fuel concern AS Alexela Energia is the owner of all assets of chemicals industry OÜ Kiviõli Keemiatööstuse Varad, Äripäev.ee/LETA reports.
Representatives of business and energy sector are criticising the national renewable energy resources program. Experts say the document is declarative, is set to meet only the minimum EU requirements and in no way contributes ensuring the country's energy independence. Therefore, it has to be redrafted, informs LETA/ELTA.
Based on preliminary data, the Lithuanian state-owned enterprises (SOEs) were 11.9% more profitable in 2013 than in 2012 – the enterprises earned LTL 484 million (EUR 140 million) in normalized net profit (net profit, following the elimination of non-standard state taxes and the effect of the bankruptcies of two local banks), informs LETA/ELTA.
President of Lithuania Dalia Grybauskaite met with U.S. Republican Senators John McCain, John Barrasso and John Hoeven. The main points of discussion were the situation in Ukraine and the threats it posed to the security of Europe and the Baltic region, reports BC presidential press service.
Latvenergo Group has published its audited Annual Report for 2013 which shows profit at EUR 46 million, down 9% from 2012, as NASDAQ OMX Riga reports, cites LETA/Nozare.lv.
Estonia’s oil product terminals' operator Vopak E.O.S. announced that due to the complicated business environment, it will start cutting its general expenditures and also the number of employees, LETA/Postimees Online reports.