Ukrainian state-owned energy firm Naftogaz said yesterday (28 February) Russia’s Gazprom would have to pay it $2.56 billion after a Stockholm court found in Naftogaz’s favour in the final stage of a long-running legal battle. Source: Euractiv
Yesterday, the Hungarian central bank announced it recently boosted its gold reserves 10-fold. According to its website, the National Bank of Hungary (MNB) now owns 31.5 tons of gold, up from 3.1 tons. It was the first significant purchase of gold by Hungary since 1986. Shiff Gold
Egypt is working on a new model for future oil and natural gas production contracts in undeveloped areas to spur exploration and help become self-sufficient in energy, oil ministry and company officials said. Source: Bloomberg
“Turkey will not allow unilateral activities [in the Eastern Mediterranean]. We need to protect the rights of Turkish Cypriots with actual steps,” Çavuşoğlu said at a symposium entitled “Law and Politics in the Eastern Mediterranean” at Ankara University. Source: Hurriyet Daily News
