President Biden unveiled an enhanced U.S. posture in Europe on Wednesday, announcing that the NATO alliance would be “ready for threats in all directions.” The new U.S. military deployments include Continue Reading
MP Andrey Gurulyov said that Europe would ‘croak’ if Russia attacked its no.1 oil hub in the Netherlands. Gurulyov’s muscle-flexing doesn’t reflect Russia’s official state policy. Europe’s energy infrastructure is Continue Reading
In the first quarter of next year, the countries of the European Union will have to cut their usage of natural gas by up to 30% in preparation for a Continue Reading
OEUK Chief Executive Deirdre Michie warned that the new tax risks driving away UK oil and gas investment. The UK government’s decision to impose a 65 percent tax rate on Continue Reading
G7 leaders have agreed to study placing global price caps on imports of Russian energy to curb Moscow’s ability to fund its invasion of Ukraine and to contribute up to Continue Reading
A “serious disruption” to the European Union’s gas supplies from Russia is likely, the bloc’s energy chief said on Monday as she urged countries to update their contingency plans for Continue Reading
The Group of Seven club of wealthy nations on Monday vowed to stand with Ukraine “for as long as it takes”, promising to tighten the squeeze on Russia’s finances with Continue Reading
Norway and the European Union will closely cooperate on battery value chains and raw material supply as part of efforts to tackle climate change, they announced during a Norway visit Continue Reading
European natural gas prices rose as Russia’s deep supply cuts are slowing the pace of refilling storage sites, threatening to fall short of the levels required to keep homes warm Continue Reading
Russia’s seaborne crude exports plunged last week, but the drop probably doesn’t indicate that sanctions are starting to bite. Flows from Russian ports were down week-on-week by 20%, falling to Continue Reading
Russia has improved the quality of its flagship Urals crude grade in the past two months, making it lighter and sweeter, and even more attractive for buyers in Asia who Continue Reading
Group of Seven nations are discussing a cap on the price of Russian oil. Group of Seven nations are discussing a cap on the price of Russian oil that would Continue Reading
Russia’s reliance on foreign software to run its factories, farms and oil fields is turning into one of the biggest headaches for domestic industry as more IT providers pull out Continue Reading
Leaders of the G7, including US President Joe Biden (L) and UK Prime Minister Boris Johnson (R), proposed a plan geared towards competing with China’s Belt and Road Initiative G7 Continue Reading
Leaders of the Group of Seven rich democracies are having “very constructive” discussions on a possible cap on Russian oil imports, a German government official said on Saturday shortly before Continue Reading
The French government could restart a coal-fired power plant in the Lorraine region in north eastern France this winter, France’s energy ministry said in a written statement Sunday, confirming a Continue Reading
Joe Biden and Olaf Scholz on the first day of the Group of Seven (G-7) leaders summit, June 26. Bloomberg News Group of Seven leaders will commit to providing indefinite Continue Reading
Tankers moored dockside at the port in Tuapse, Russia. Source: Bloomberg Want the lowdown on European markets? In your inbox before the open, every day. Sign up here . Group Continue Reading
The Group of Seven nations, a bloc of the world’s wealthiest states, plans to impose a ban on imports of Russian gold, US President Joe Biden said in a tweet Continue Reading
WATCH: Russia has defaulted on its foreign-currency sovereign debt for the first time since 1918. Su Keenan reports. Russia defaulted on its foreign-currency sovereign debt for the first time in Continue Reading
Lower Russian gas flows are leaving Germany in a dangerous situation, but whether this turns into a full-blown energy crisis may depend on how willing European partners are to spread Continue Reading
European natural gas prices rose as Russia’s deep supply cuts are slowing the pace of refilling storage sites, threatening to fall short of the levels required to keep homes warm Continue Reading
European Union governments are poised for a fight over the the size of a fund designed to cushion some consumers from costs in a new carbon market, with France to Continue Reading
For years, BASF SE , BASFY 2.18%▲ one of the world’s largest chemicals companies, built its business model around cheap and plentiful Russian natural gas, which it uses to generate Continue Reading
Nato is to agree an overhaul of its battle plans to offer better protection to the alliance’s eastern flank, tearing up a model that could have meant relinquishing and then Continue Reading
Highlights Follows European Parliament approval on June 23 EU stocks currently at 55.7% of capacity European gas prices remain at sustained highs The EU’s new rules on minimum gas storage Continue Reading
India’s intake of Russian crude oil has soared 50-fold since April and, to date, makes up a tenth of the subcontinent’s imported oil, the Economic Times reported today, citing a Continue Reading
When Russia turns off the gas through the Nord Stream 1 pipeline for maintenance in July, Europe is starting to worry that it won’t turn it back on again. This Continue Reading
EU leaders will on Friday discuss how the bloc would cope without Russian gas, and are expected to accuse Moscow of “weaponising” energy via a supply squeeze that Germany warned Continue Reading
The German government is considering converting parts of the Nord Stream 2 gas pipeline into a connection for a liquefied natural gas terminal on the Baltic Sea coast. Magazine Der Continue Reading
Poland and Ukraine are increasing this year’s production of thermal coal, the most polluting fossil fuel, preparing for colder months as Europe grapples with an energy security crisis exacerbated by Continue Reading
Italy’s dependence on Russia for imported gas has decreased to 25% from 40% last year, Prime Minister Mario Draghi said on Friday following a summit of European Union leaders where Continue Reading
EU leaders will on Friday discuss how the bloc would cope without Russian gas, and are expected to accuse Moscow of “weaponising” energy via a supply squeeze that Germany warned Continue Reading
Germany is heading for a gas shortage if Russian gas supplies remain as low as they are now, and certain industries would have to be shut down if there is Continue Reading
The United States will provide an additional $450 million in security assistance to Ukraine, including more long-range rocket systems, U.S. officials said on Thursday. Moscow’s forces are advancing in Ukraine’s Continue Reading
With Ukraine’s seaports blockaded or captured by Russian forces, neighboring Romania’s Black Sea port of Constanta has emerged as a main conduit for the war-torn country’s grain exports amid a Continue Reading
UK Chancellor of the Exchequer Rishi Sunak remained committed to his windfall tax. UK Chancellor of the Exchequer Rishi Sunak remained committed to his windfall tax on oil and gas Continue Reading
Tensions between Kazakhstan and Russia are reaching a boiling point. Awkward exchanges between leaders highlight weakness in the two countries’ alliance. Russia’s unprovoked war in Ukraine has left Kazakhstan and Continue Reading
Europe must race to replace sanctioned and curtailed Russian energy supply and should double down on efficiency and renewables, including nuclear power, the International Energy Agency (IEA) said on Wednesday. Continue Reading
Britain’s defense intelligence service believes that Russia’s momentum in the war in Ukraine will slow in the next few months as its army exhausts its resources, British Prime Minister Boris Continue Reading
Russian oil cargoes are increasingly disappearing from view in the Atlantic Ocean as sanctions against the nation’s exports ratchet up. In the past 10 days, at least three tankers have Continue Reading
Strikes hit processing unit, crude tank farm Novoshakhtinsky had only recently resumed operations Ukraine invasion leading to significant infrastructure damage Operations at the Novoshakhtinsky refinery in Southern Russia have been Continue Reading
Germany triggered the “alarm stage” of its emergency gas plan on Thursday in response to falling Russian supplies but stopped short of allowing utilities to pass on soaring energy costs Continue Reading
The British government is still “fleshing out details” of a special tax on North Sea oil and gas producers announced last month, energy minister Kwasi Kwarteng told a conference on Continue Reading
The German companies that drive Europe’s biggest economy are contemplating painful cuts to their output and resorting to polluting forms of energy previously considered unthinkable as they adjust to the Continue Reading
India is providing safety certification for dozens of ships managed by a Dubai subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere Continue Reading
Ukraine will be accepted as a candidate to join the European Union on Thursday, a move that will boost the country’s morale as the battle with Russian troops for two Continue Reading
Highlights METI requests exception for Sakhalin 1, 2 equity oil liftings No Japanese refiner imports Russian crude currently: PAJ chief Japan’s Ministry of Economy, Trade and Industry has requested the Continue Reading
Germany faces certain recession if faltering Russian gas supplies stop completely, an industry body warned on Tuesday, and Italy said it would consider offering financial backing to help companies refill Continue Reading
Goldman Has Raised European Gas Price Forecast UK energy prices are set to rise more than 50% from current levels, as natural gas supplies continue to face disruption following Russia’s Continue Reading
