The implementation of U.S.-Iran agreement to end the conflict in the Persian Gulf will lead to a de-escalation of international prices and retail prices at the pump, according to officials at Greek refineries.<\/b><\/p>\n
Provided, as they note, that there will be no unforeseen events in the period leading up to a final agreement.<\/p>\n
The refinery price for gasoline <\/b>fell yesterday to 1.412 euros per liter, and for diesel fuel<\/b>to 1.135 euros, while in the coming days, according to estimates based on the trend of international prices\u2014which serve as the basis for calculation\u2014a further decline is expected. Yesterday, Thursday, the average price of unleaded<\/b> fell to 1.981 euros and that of diesel fuel to 1.717 euros per liter.<\/p>\n
As for crude oil<\/b>, according to the same sources, barring any unforeseen circumstances, it is considered reasonable for prices to fluctuate between 80 and 100 dollars per barrel in the near future.<\/p>\n
They also noted that while the impact of the Gulf crisis on supply was significant (both in terms of prices and product availability), they were not as dramatic as in previous crises.<\/p>\n
The reasons for this are:<\/p>\n
-The U.S. <\/b>, which had been an importer in previous years, has become the world\u2019s largest oil producer.<\/p>\n
-Despite the blockade, several shipments passed through the straits, while significant quantities were transported via pipeline to other ports for transshipment onto tankers.<\/p>\n
-The rise in prices led to a decline in international demand, thereby easing pressure on the market.<\/p>\n
–China<\/b> had engaged in extensive crude oil stockpiling prior to the closure of the straits.<\/p>\n
The picture is different for the natural gas market, where there is not as much flexibility in transportation and storage. Furthermore, the damage to Qatar\u2019s liquefaction infrastructure<\/b>\u2014one of the world\u2019s largest producers\u2014will not be restored immediately, while the need to fill Europe\u2019s natural gas storage facilities ahead of winter is high.<\/p>\n
With regard to hydrocarbon exploration<\/b>, it is noted that the timeline for an exploratory well in the Gulf of Kyparissia (Block 10) by the Chevron-Helleniq Energy consortium,<\/b> should such a decision be made, spans a five-year timeframe. The next step is to conduct 3D seismic surveys in the neighboring \u201cblock\u201d A2, the findings of which will determine the subsequent steps. Finally, it is emphasized that Helleniq remains open to partnerships regarding the \u201cIonian\u201d region, where it currently holds 100% of the exploration rights.<\/p>\n","protected":false},"excerpt":{"rendered":"
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