World Oil (Bloomberg) — New British Prime Minister Liz Truss removed a ban on drilling for shale gas, an effort to boost domestic energy supply that will have to overcome the same obstacles that stymied the industry for the past decade. The lifting of the moratorium on so-called fracing was part of a package of measures announced on Thursday to tackle soaring
US News BRUSSELS/VLADIVOSTOK Russia -The European Union proposed a price cap on Russian gas on Wednesday after President Vladimir Putin threatened to cut off all energy supplies if it took such a step, raising the risk of rationing in some of the world’s richest countries this winter. The escalating standoff could drive up sky-high European gas prices further,
US News PARIS – Two advisers to Ukrainian President Volodymyr Zelenskiy have asked French oil major TotalEnergies to reject a 440 million euro ($438.02 million) “blood money” dividend from one of its Russian holdings or to spend the money on Ukrainian reconstruction. In a Sept. 1 letter to TotalEnergies CEO Patrick Pouyanne, seen by Reuters and first reported by the
Reuters MOSCOW – Russian state gas company Gazprom (GAZP.MM) said on Tuesday that European gas prices could spike by 60% to more than $4,000 per 1,000 cubic metres this winter, as the company’s own export and production continues to fall amid Western sanctions. Gas flows from Russia, Europe’s top supplier, are running at reduced levels this year, after one route was
World Oil (Bloomberg) — Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive. The Italian oil and gas producer’s potential project would complement its $7-billion Coral-Sul FLNG platform moored off Mozambique’s northern coast that’s
CNBC The operator of Nord Stream 1, a key gas pipeline which runs from Russia to Germany, said Thursday it was in the process of resuming flows to Europe. There had been concerns across the region that there could be a complete shutdown of gas supplies via the pipeline after it was closed earlier this month for maintenance. Flows
CNBC A nuclear power plant in Switzerland is lowering its output in order to prevent the river that cools it from hitting temperature levels dangerous to marine life, in the latest example of how Europe’s current heatwave is having wide-reaching effects. On Monday, the Swiss Broadcasting Corporation’s international unit, citing the country’s public broadcaster SRF, said the Beznau nuclear power plant
CNBC LONDON — The EU signed a new gas deal with Azerbaijan on Monday, as officials scramble to secure future supplies amid growing fears about a Russian cutoff. European officials have been preparing for a potential complete shutdown of gas supplies from Russia in the wake of Moscow’s invasion of Ukraine. Russia has for several years been Europe’s most important source of
CNBC Europe is bracing for an extended shutdown of Russian gas supplies as maintenance work begins on the Nord Stream 1 pipeline that brings gas to Germany via the Baltic Sea. Operator Nord Stream AG confirmed the work, which is scheduled to run from Monday through to July 21, got underway as planned Monday morning. Russian gas flows via
CNBC The European Union’s best shot at replacing Russian gas imports this year is likely to miss the mark, analysts predict, exerting further pressure on the region’s economy. The EU plans to replace two-thirds of Russian gas imports by the end of the year, as Russia’s war in Ukraine continues to wage on. The shift away from the country’s
US News FRANKFURT/MILAN – Europe’s biggest Russian gas buyers raced to find alternative fuel supplies on Monday and could burn more coal to cope with reduced gas flows from Russia that threaten an energy crisis in winter if stores are not refilled. Germany, Italy, Austria and the Netherlands have all signalled that coal-fired power plants could help see the continent
Reuters Ukraine has signed a deal for the U.S. nuclear power company Westinghouse to supply fuel to all of its atomic power stations in an effort to end the country’s reliance on Russian supplies, Ukraine’s state nuclear company said on Friday. The agreement also increases the number of new nuclear units Westinghouse will build to nine from an earlier five, and
