ECONOMY

Enel quits hydrocarbon search tenders

It is unlikely the tenders for hydrocarbon surveying in three blocks in Western Greece will involve any foreign companies, as, following the withdrawal of Shell, Total and Repsol amid the uncertainty that arose with the elections and the government change in Greece, Enel on Thursday announced that it is also dropping out of the bidding process scheduled for Friday.

The withdrawal of the Italian energy company came as a surprise not only to the Energy Ministry, which had decided to start the bidding process on account of Enel’s expression of interest, but also to its bidding partner, Hellenic Petroleum, which will now submit an independent offer. Sources say Enel’s opt-out was unrelated to Greek politics, as it is facing internal problems.

Barring another surprise, the ministry is only expecting bids on Friday from Greek firms Hellenic Petroleum and Energean Oil.