Prime ministers of Italy and Belgium were among those to air frustration on Thursday with Germany’s refusal to cap gas prices as the 27 European Union leaders met for a Continue Reading
European industries are struggling to stay competitive amid soaring energy costs. Surging natural gas and electricity costs have resulted in a jump in operational costs for all industries, from steelmaking Continue Reading
The European Commission proposed another set of emergency measures on Tuesday to tackle high energy prices, but steered clear of an immediate cap on gas prices as EU countries remain Continue Reading
The European Commission is unlikely to include an immediate cap on natural gas prices in the emergency measures it is set to propose today. The measures will be designed to Continue Reading
Natural gas prices fell as the European Union prepares measures to curb volatility in its biggest marketplace in an attempt to rein in the energy crisis. Benchmark futures dropped as Continue Reading
Highlights Situation ‘really critical’ for Europe this winter Novak questions which suppliers can replace Russian gas Deliveries to China to reach 22 Bcm in 2023 Russia’s Deputy Prime Minister Alexander Continue Reading
Nation’s reserves are 95% full two weeks ahead of schedule Region likely to avoid unusually cold winter: climate model Europe’s gas storage sites are more than 91% full. Photographer: Krisztian Continue Reading
Highlights Fuel switching, LNG, efficiency and rationing Near term tough on Europeans, industry Europe will likely manage a drop in Russian natural gas supplies this winter as the war in Continue Reading
Storage silos for liquid natural gas at the Yukonhaven terminal at the Port of Rotterdam in Rotterdam, Netherlands. Photographer: Peter Boer/Bloomberg European natural gas prices slumped to the lowest level Continue Reading
EU leaders remain divided over gas price cap European Commission to make proposals for EU summit Poland criticises Germany for big spending on compensation Leaders vow continued financial, military aid Continue Reading
Highlights Next EU Council on Oct 20 Deeper reform ‘six months away’ EFET warns of damaging knock-on effects The European Commission has significant work to do on the design of Continue Reading
A new COVID-19 wave appears to be brewing in Europe as cooler weather arrives, with public health experts warning that vaccine fatigue and confusion over types of available vaccines will Continue Reading
Europe may face an even more acute energy crunch next year after draining its natural gas tanks to get through the cold of this winter, the head of the International Continue Reading
Europe’s diesel crisis is set to worsen as refinery maintenance and unplanned outages result in reduced supply. The benchmark diesel profit margins in Europe rose last week to the highest Continue Reading
Goldman’s Currie: Oil Market Will Continue to Tighten The European market for Russia’s seaborne crude is drying up as sanctions draw nearer, and the country’s Asian customers aren’t picking up Continue Reading
The European Parliament approved new rules on Tuesday that will introduce in the European Union a single charging port for mobile phones, tablets and cameras by 2024, in a world Continue Reading
Prices have dropped about 50% from the highs of late August European natural gas prices extended declines as mild weather and ample stockpiles ease concerns about shortages. Benchmark futures declined Continue Reading
Eastbound gas flows stopped on Monday via the Yamal-Europe pipeline to Poland from Germany while Russian supply to Europe via Ukraine was stable and the Nord Stream 1 pipeline remained Continue Reading
A heavy oil refinery turnaround season in Europe this autumn, plus French strike action, is set to push diesel prices higher and tighten supplies ahead of a European Union ban Continue Reading
A combination of soaring natural gas prices, an industrial slowdown, and energy-saving measures has sent European gas consumption falling. The International Energy Agency has forecast a 10% drop in annual Continue Reading
Major leaks blamed on sabotage on the subsea Nord Stream gas pipelines from Russia to Europe have put governments from Oslo to Rome on high alert and prompted some to Continue Reading
Europe is quickly establishing itself as a leader in the green hydrogen race. The European Commission has approved another $5.2 billion in public funding for green hydrogen projects. The new Continue Reading
The European Union is considering options to cap gas prices, as a growing number of countries pressure Brussels to put a lid on sky-high fuel costs. France, Italy, Poland and Continue Reading
The EU plans to launch a deep and comprehensive reform of its electricity market, a reform that will likely be funded by a windfall tax on oil and gas companies. Continue Reading
Despite recent signs of weaker diesel demand and economic headwinds, diesel and other crude product supply in Europe is set to tighten in the coming weeks amid higher than normal Continue Reading
European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits, and began talks on their next move to tackle Europe’s energy crunch – possibly a Continue Reading
The eurozone’s annual rate of inflation hit double digits in September as uncertainty about the currency area’s ability to make it through the winter without power cuts continued to keep Continue Reading
The Pentagon said on Wednesday it would send an additional $1.1 billion in long-term military aid to Ukraine, including 18 High Mobility Artillery Rocket System launchers, or HIMARS, one of Continue Reading
n a sign that the United States and its allies believe that the fighting in Ukraine will last years, military officials from more than 40 countries gathered at NATO’s headquarters Continue Reading
Europe Has to Pray for a Warm Winter: Blanch Europe’s frenzied buying of liquefied natural gas means it’s likely to have enough of the power-generation fuel this winter to offset Continue Reading
Europe’s natural gas prices have continued their sharp pullback across UK and European benchmarks as the continent has filled up its gas storage ahead of schedule. Benchmark Dutch front-month futures Continue Reading
Very high energy costs are forcing European companies to cheaper places like the U.S. The Inflation Reduction Act could benefit chemicals, batteries and clean energy industries. Industries such as manufacturing Continue Reading
European Union countries are pushing for guarantees that they can keep their own windfall profit levies on energy companies, and retain the option to impose even tougher measures, alongside bloc-wide Continue Reading
Winter power demand across the EU’s main gas-fired power markets is forecast some 5.3% below the five-year average, analysis by S&P Global Commodity Insights shows. November-to-March demand in eight EU Continue Reading
Normal temperatures are set to return by the start of October when wind generation will increase too. Photographer: Angel Garcia/Bloomberg An Arctic chill that’s blowing across western Europe through next Continue Reading
EU proposals to ban the sale of new internal combustion engine cars and vans by 2035 should be reconsidered given the impact Russia’s war in Ukraine has had on soaring Continue Reading
A big winner from the energy crisis in Europe: the U.S. economy. Battered by skyrocketing gas prices, companies in Europe that make steel, fertilizer and other feedstocks of economic activity Continue Reading
EU plans to mandate a 5% reduction in peak hour energy demand will be a real test of resolve. Power generation technologies with lower generation costs than natural gas – Continue Reading
Highlights EC on standby to issue ‘union alert’ on gas demand: Zsigri Winter could become difficult, no room for complacency No final decision yet on scope of gas price cap Continue Reading
Russia is losing its gas war against Europe, according to Standard Chartered analysts. Russia is losing its gas war against Europe. That’s what Standard Chartered analysts think, according to a Continue Reading
The EU may have a plan to ban all Russian diesel purchases in February, but in the meantime, European buyers are happy to pay more for Russian diesel now than Continue Reading
Germany nationalized gas importer Uniper (UN01.DE) on Wednesday and Britain capped the wholesale cost of electricity and gas for businesses, in Europe’s latest moves to keep the lights on and Continue Reading
Greenpeace and a raft of other environment groups issued the European Union with an ultimatum over its decision to grant some gas and nuclear power stations a “fake” green label Continue Reading
Vladimir Putin ’s economic campaign to force European governments to abandon support for Ukraine by sharply curbing their natural-gas supplies looks to be faltering as gas prices fall, Russian government Continue Reading
European Union lawmakers voted on Wednesday to raise the bloc’s targets to expand renewable power and save energy, backing proposals that had been made more ambitious in a bid to Continue Reading
The European Union’s executive outlined plans on Wednesday to raise more than $140 billion from energy firms to help shield households and businesses from soaring prices that threaten economic recession Continue Reading
The US shale industry has warned it cannot rescue Europe with increased oil and gas supplies this winter amid fears that a plunge in Russian exports will send crude prices Continue Reading
One-off tax to target ‘surplus’ oil, gas, coal profits in 2022 Minimum excess tax rate of 33% proposed EU oil industry flags concern over tax calculation The European Commission proposed Continue Reading
The European Commission on Wednesday unveiled a series of proposals to curb the energy price spike that has rocked Europe in the wake of Russia’s invasion of Ukraine, while stressing Continue Reading
The European Union will propose measures to cap revenues from low-cost electricity generators and force fossil fuel firms to share the profits they make from soaring energy prices, European Commission Continue Reading
