Nasdaq LUXEMBOURG – The European Union’s executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is still no agreement to ban Russian crude. “They are now working on ensuring that oil is part of the next sanctions package,” Irish Foreign Minister Simon Coveney said
Yahoo Finance BRUSSELS – European Union officials will hold talks in Vienna with OPEC representatives on Monday amid calls for the producer group to increase output and as the EU considers potential sanctions on Russian oil. OPEC has resisted calls by the United States and the International Energy Agency to pump more crude to cool prices which reached a 14-year
CNBC The U.S. said Friday it will work with international partners to provide at least 15 billion cubic meters more of liquified natural gas to Europe this year, seeking to end the bloc’s dependence on Russian energy exports following the Kremlin’s invasion of Ukraine. These additional volumes of LNG are expected to increase going forward, the White House said in a
Reuters LONDON – OPEC officials believe a possible European Union ban on oil from its partner Russia would hurt consumers and the group has conveyed its concerns to Brussels, OPEC sources said. Major OPEC members, such as Saudi Arabia and the United Arab Emirates, have tried to navigate a neutral course between the West and Moscow, while OPEC+, a grouping
Nasdaq BRUSSELS, March 23 – The European Union recommended on Wednesday that EU countries jointly buy gas to shore up supply, but warned that seeking to cap wholesale prices would cause problems and undermine efforts to shift to green energy. The European Commission will unveil a detailed plan in May to quit Russian fossil fuels by 2027, in response to
Reuters ROME – A growing number of European countries are cutting fuel taxes to lower surging pump petrol prices. The move brings respite to motorists but environmentalists say it flies in the face of commitments to curb global warming. Rising international oil costs, exacerbated by the war in Ukraine, have driven petrol above 2 euros ($2.21) per litre in much
Nasdaq BRUSSELS, March 14 – European Union states are set to adopt new sanctions against Russia’s oil majors Rosneft ROSN.MM, Transneft TRNF_p.MM and Gazprom Neft GZNPI.MM, but will continue to buy oil from them, an EU source told Reuters on Monday. The three companies are already subject to EU restrictions on loans and debt financing. Under the new package to be discussed later
Nasdaq BRUSSELS, March 8 – The European Commission published plans on Tuesday to cut the EU’s dependency on Russian gas by two-thirds this year and end its reliance on Russian supplies of the fuel “well before 2030”. The European Union executive said it will do so by switching to alternative supplies and expanding clean energy more quickly under the plans,
CNBC The European Union is debating new sanctions against Russia — and this time they could hit the energy sector. Three European officials, who did not want to be named due to the sensitivity of the talks, told CNBC that ministers will be looking at imposing energy sanctions on Russia when they meet Friday. EU foreign affairs ministers are meeting
Nasdaq WASHINGTON, Jan 28 – U.S. President Joe Biden and his European Union counterpart Ursula von der Leyen on Friday pledged to cooperate on guaranteeing Europe’s energy security as well as Ukraine’s amid the standoff triggered by Russia amassing troops at Ukraine’s border. “The United States and the EU are working jointly towards continued, sufficient, and timely supply of natural
Reuters BRUSSELS/LONDON – The European Commission on Wednesday put forward plans for the world’s first carbon border tax, on imports of carbon-intensive steel, aluminium, cement, fertilisers and electricity, as part of a programme to meet its new climate target. The border levy should be phased in from 2026, the Commission said, and is designed to protect European industries from competitors
Reuters BRUSSELS/WASHINGTON – The United States and European Union will pledge closer cooperation on fighting climate change at a summit on Tuesday, but will steer clear of setting a date to stop burning coal, according to a draft joint statement. U.S. President Joe Biden will meet the chief of the European Union’s executive, Ursula von der Leyen, and European Council
