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In the wake of the downing of Malaysia Airline flight MH17 over eastern Ukraine on 17 of July 2014, Russia has been pelleted with adverse court rulings and judicial decisions. In sequence we have:
The Greek authorities officially announced the 2014 offshore exploration bidding round for 20 offshore blocks in the Ionian Sea and on the South of Crete in a conference that took place in London earlier this summer, with the support of the Greek Energy Forum. As expected, this event was received with great levels of excitement. The various publications in the aftermath of this event however did not highlight the display of commitment from the Greek authorities in on this endeavour, which has been also an achievement in itself for a country looking to re-enter the international hydrocarbon exploration arena. The clarity of the structure of the announced bidding round, along with the announcement of a well-defined timeline and coupled with an authoritative delivery to the audience, set the ground for a successful bidding round.
The developments following this event have not failed to maintain this momentum. Demonstrating commitment to the announced targets, the hydrocarbon exploration tenders have been signed for publication within August 2014, following the announced timeline to the letter and gaining thus credibility points in the market. Nevertheless, we still have a long way to go before this bidding round can be branded as a success, but such developments build trust.