World Oil (Bloomberg) — Western European nations are scrambling for ways to live without Russian natural gas, bracing for the possibility that either the Kremlin switches off the taps or political pressure for tighter sanctions erupts into a full energy embargo. With Russian troops advancing into Ukraine, European Union governments are concerned that the source of 40% of the region’s
Yahoo Finance BERLIN – Germany on Tuesday halted the Nord Stream 2 Baltic Sea gas pipeline project, designed to double the flow of Russian gas direct to Germany, after Russia formally recognised two breakaway regions in eastern Ukraine. Europe’s most divisive energy project, worth $11 billion, was finished in September, but has stood idle pending certification by Germany and the
Yahoo Finance BRUSSELS – The European Union is considering making more information available on trading in its carbon market, according to a draft document, amid calls from some governments to limit financial speculators’ participation in the scheme. Tougher EU climate targets and high gas prices leading some power generators to switch to higher-emitting coal have helped to drive a jump
Oil Now Oil prices rose on Monday on worries about supply disruption amid concerns about Russia-Ukraine discord and rising tensions in the Middle East, which could make an already tight market even tighter. Brent crude rose 31 cents, or 0.4%, to $88.20 a barrel by 1009 GMT. U.S. West Texas Intermediate (WTI) crude gained 21 cents, or 0.3%, to $85.35.
Reuters OSLO, December 21 – Norway’s $1.4 trillion wealth fund, the world’s largest, will not deny firms that emit major greenhouse gases to meet plans to carbon-neutralize its investment portfolio by 2050. The deputy head of the central bank – which is the foundation’s director – announced on Tuesday that such companies will be “active shareholder” by encouraging them to
Reuters Italy has drawn up a series of measures to speed up the time it takes to authorise new renewable energy projects, including the creation of special areas to build them in, a draft law showed. Italy’s complex approval process has slowed down the rollout of green energy schemes, threatening access to EU recovery funds and the achievement of climate
Reuters OSLO – Norway’s supreme court upheld government plans for Arctic oil exploration on Tuesday, dismissing a lawsuit by campaigners who said they violated people’s right to a healthy environment. While most of Norway’s oil output flows from south of the Arctic, the government believes the greatest untapped potential lies in the Barents Sea off Europe’s northernmost coast. Tuesday’s verdict
From Reuters The Danish Energy Agency has requested an environmental assessment of a third route option for the Nord Stream 2 gas pipeline in Danish waters, a move that could delay the project to pump Russian gas to Europe. The 1,225 km (765 miles) pipeline, now under construction, has come under fire from the United States and several eastern European,
From: Bloomberg A group of activists is trying to put a stop to Norway’s Arctic oil exploration and forcing the country to defend itself in the first court case of its kind. Greenpeace and a Norwegian group, Nature and Youth, say Norway’s decision to award 10 Barents Sea exploration licenses in 2016 to Statoil ASA, Lundin Petroleum AB, Chevron Corp. and others, breaches the country’s
