(Oil Price) – European Union officials are considering the potential introduction of a cap on natural gas prices as part of discussions on a clean industrial deal policy to boost Europe’s industry. Europe is losing competitiveness due to the European gas prices which are up to four times higher than those in the United States. A cap on prices is
(Investing) – BRUSSELS – Many of the world’s biggest polluter nations have missed a U.N. deadline to set new climate targets as efforts to curb global warming come under pressure following U.S. President Donald Trump’s election. The nearly 200 countries signed up to the Paris Agreement faced a Monday deadline to submit new national climate plans to the U.N., setting out
(Oil Price) – The EU’s natural gas storage is already at 95% full, data from Gas Infrastructure Europe show, after the bloc reached in August its target to have 90% full storage well ahead of its self-imposed binding deadline, November 1. In the middle of August, the EU reached its target of filling gas storage facilities to 90% of capacity 10 weeks ahead of
U.S. News BRUSSELS -European Union countries adopted a 14th package of sanctions on Russia that aims to close some loopholes and hits Russia’s gas exports for the first time, EU foreign ministers said on Monday. Western powers imposed sweeping sanctions on Moscow after Russia launched a full-scale invasion of Ukraine in February 2022, which have been progressively ramped up since.
Oil Price An EU sanctions loophole that allows imports of Russian crude if it’s refined elsewhere made Russia an estimated $1.2 billion (1.1 billion euros) from sales of fuels in the European Union last year, despite the embargo on direct imports from Russia, an investigation by NGO Global Witness showed on Friday. For more than a year, the EU has had a
Nasdaq SHARM EL SHEIKH – The United States and European Union plan to unveil a joint agreement this week to step up efforts to reduce emissions of the potent greenhouse gas methane from the fossil fuel sector, and are hoping other nations will sign up. A draft of the pledge, seen by Reuters, said the United States and EU will
World Oil (Bloomberg) — Russia could find new markets for about half of the crude exports that will be banned by the European Union from December, according to energy-data firm Kpler. Indonesia, Pakistan, Brazil, South Africa, Sri Lanka and some countries in the Middle East could together buy as much as 1 million barrels a day of crude
Oil Price The European Commission will propose a revenue cap for companies producing electricity at a low cost and a “crisis contribution” from the extra profits of fossil fuel companies in a plan to raise $140 billion (140 billion euros) to cushion the energy crisis blow to European citizens and economy, European Commission President Ursula von der Leyen said on Wednesday.
Yahoo News BRUSSELS – EU energy ministers on Friday tasked the European Commission to press ahead with a cap on the revenues of non-gas power producers benefiting from soaring energy prices, while backing away from capping Russian gas prices. Seeking ways to help with rising consumer bills, the ministers asked the European Commission to prepare other emergency measures including
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,
Nasdaq BRUSSELS – The European Union is drafting emergency plans to intervene in its energy market, as pressure grows from member states to put a lid on the surging price of electricity. European Commission chief Ursula von der Leyen said on Monday Brussels was preparing an intervention to separate power prices from the soaring cost of gas – as
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
