Greece to be the New Phoenix

Under enormous international pressure the Greek Parliament just passed an austerity package. The world can now breathe a temporary sigh of relief but it will not last too long. The problem will not go away. ...

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ENI Eyes Transporting Israeli Gas to Cyprus

Sources inform ''Globes'' that that Italian energy giant ENI SpA wants to transport compressed Israeli gas to Cyprus. ENI executives told Minister Energy and Water Resources Silvan Shalom that the company wants to enter the Israeli market, belying reports that it was worried about jeopardizing its relations in the Arab world. ...

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Production Test for Cypriot Natural Gas Starts Today

THE FIRST production test of natural gas will begin on Thursday at Aphrodite A-2 in Block 12 of Cyprus’ Exclusive Economic Zone. In statements to CNA, president of the Cyprus National Hydrocarbons Company, Charalambos Ellinas, said that the drill stem test will test the pressure and quality of the deposits in Block 12. ...

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Cash Strapped Greek Government Hopes for Rising Oil Output

The dire state of the Greek economy is well known to its European Union partners. Further hammering the economy are Greece’s massive oil imports. According to the U.S. government’s Energy Information Administration, in 2012 Greece produced only 7,500 barrels per day, while consuming 313,240 bpd, heavily impacting the country’s payments for imports.oil ...

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Co-operation With America Throughout

The hydrocarbon discoveries in Cypriot waters, part of the Eastern Mediterranean bonanza, were "Godsent". However, a bigger gift for Cyprus was the weakening relations between Turkey and Israel. This rift forced Israel to seek a multifaceted and mutually beneficial co-operation with the Cypriot Republic. ...

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