BASF

The EU must urgently lower energy prices and ease regulations to stop industry fleeing the continent, European businesses said yesterday, as Brussels prepares plans to stimulate the green economy.

The European Union is racing to make Europe more attractive for the companies that could be tempted by massive U.S. and Chinese subsidies and lower energy costs.

The German-Hellenic Chamber of Commerce & Industry, BASF Hellas and Piraeus Bank present the Wine & Currant Marketing Forum, taking place on Thursday at the Domotel Kastri Hotel.

Discovered resources globally of conventional oil and natural gas surpassed 4.5 billion barrels of oil equivalent in the first half of 2018, making for an exciting recovery with Guyana leading the way, according to analysis by Rystad Energy. Average monthly discovered volumes are 826 million barrels of oil equivalent. This is a 30% increase from 2017.

German chemicals giant BASF has agreed to merge its Wintershall oil and gas unit with the DEA energy firm owned by Russia’s billionaire entrepreneur Mikhail Fridman.

Times are hard for many European firms, particularly German giants such as BMW, Puma, Lufthansa and Bosch. It appears these firms can't even afford an office of their own where they could advance their interests with the requisite comfort and equipment. For that reason, they end up crammed together under the same roof. It is often a humble, almost empty room.

Western partners of gas giant Gazprom agreed on April 24 to provide half the financing for the 9.5-billion euro ($10.32 billion) Nord Stream 2 pipeline, removing a big hurdle for a Russian plan to pump more gas to Europe.

Nord Stream 2 AG has signed contracts with Engie, OMV, Royal Dutch Shell, Uniper and Wintershall on the financing of the Nord Stream 2 gas pipeline.

The companies will provide half of the project cost of EUR 9.5 billion, TASS has reported, quoting Gazprom.

Romania cannot take legal steps against Gazprom for reducing the supply of natural gas, because imports are operated by intermediate companies, also controlled by Russia, Minister Delegate for Energy Razvan Nicolescu said in an interview to the RFI radio station on Wednesday.