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EU
Germany Says Borrowing More Money to Compete With the U.S. Would Be a ‘Threat’ to Europe
European Commission President Ursula von der Leyen said Sunday “new and additional funding at the EU level” will be needed to make European companies more com…
Electric Car
Prices of EVs Could Rise by 10% In 2024
That’s the warning from carmakers, after EU rules on manufacturing are set to change in two years.
Natural Gas
Netherlands Proposes EU Gas Price Cap for State-Backed Buyers - Document
The Netherlands has weighed into the European Union's debate on whether to cap gas prices with an alternative proposal that would cap gas prices but only for go…
United States
Explainer: Why the U.S. Inflation Reduction Act Has Europe up in Arms
Top European Union officials will use a trade meeting with U.S. counterparts on Monday to press concerns about Washington's huge new green energy subsidy packag…
EU
Emergency Call Services, Telcos Urge EU to Protect Telecoms Networks From Power Cuts
Europe's top telecoms operators and an emergency services lobby on Monday urged Brussels to shield mobile and fixed grids from power cuts, a letter reviewed by …
Natural Gas
Eastward Gas Flows via Yamal-Europe Pipeline Fall to Zero
Eastbound gas flows through the Yamal-Europe pipeline to Poland from Germany fell to zero on Monday morning, while Russian supplies to Europe via Ukraine inched…
Natural Gas
European Gas Consumption Is 24% Below the Five-Year Average
Europe’s natural gas demand in November fell by nearly a quarter compared to the five-year average for the month.
Oil Price
Italy Expects to Raise $4.2 Billion From Windfall Tax and Power Price Cap
The Italian government expects to raise around $4.2 billion (4 billion euros) from a new windfall tax on energy companies and a price cap on the electricity pro…
Hydrogen Production
BP Is Betting Big on Green Hydrogen
UK supermajor BP sees low-carbon hydrogen as one of its key growth areas and is betting on green hydrogen to advance the energy transition and the decarbonizati…
Crude Oil
Price Cap on Russian Oil Comes Into Effect
The price cap of $60 per barrel for Russian oil devised by the G7 and supported by the European Union comes into effect today, aiming to curb Russia’s revenues…
EU
France’s €13.5bn Scheme to Compensate Energy-Intensive Firms Granted EU Approval
The scheme will cover part of the higher electricity prices arising from the impact of carbon prices on electricity generation costs incurred between 2021 and 2…
Oil Refinery
Lukoil Says Its Italian Refinery Will Continue Operations After EU Embargo
Lukoil said on Friday that it is ready to ensure continued operations at the site after the EU embargo on imports of Russian crude by sea takes effect on Decemb…
Crude Oil
Poland Approves $60 G7 Oil Price Cap
Poland has agreed to a $60 price cap on Russian crude oil, Poland’s Ambassador to the EU, Andrzej Sados, said on Friday.
Crude Oil
Nigeria to End Imports of Petroleum Products in 2023
Nigeria—a major petroleum products importer—expects to stop importing petroleum products starting in the third quarter of next year, Nigeria’s oil minister T…
Natural Gas
Eni Holds Preliminary Talks to Buy UK Gas Producer for up to $6 Billion
Italian energy major Eni has held preliminary talks to potentially buy UK-based gas-focused producer Neptune Energy for up to $6 billion, Reuters reported on We…
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