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
Yahoo Finance LONDON- Oil prices firmed on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai. Brent crude was up $2.40, or 2.1%, at $118 a barrel by 1357 GMT. U.S. West Texas Intermediate (WTI) crude rose $2.54, or 2.2%, to $117.21. Both benchmarks registered
Reuters BRUSSELS: EU countries scrambled on Friday to reach a deal that would embargo seaborne deliveries of Russian oil but still allow deliveries by pipeline, a compromise to win over Hungary and unblock new sanctions against Moscow, officials said. An agreement could be reached by envoys of European Union governments in Brussels on Sunday, in time for their leaders to
US News NEW YORK – Oil prices rose about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine. Brent futures for July delivery rose $3.21, or 2.8%, to $117.24 a
Reuters he European Union and the United States are trying to convince oil and gas-producing countries to increase their production to help lower global fuel prices, German Chancellor Olaf Scholz said in an interview with Deutsche Welle. “It is necessary that we start to increase the supply with gas, with fuel, with all the things to make it feasible for the countries to pay for their
Nasdaq BRUSSELS, May 16 – The European Commission has confirmed how European Union companies can pay for Russian gas without breaching the bloc’s sanctions against Russia, in updated guidance on the issue seen by Reuters. The Commission told countries last month that European companies may be able to pay for Russian gas without breaching EU sanctions against Moscow, but only
