Even though the EU sanctions Russian oil, Bulgaria still allows crude to be processed at the Lukoil Burgas refinery. An investigation by Ukrainian journalist Mykhailo Tkach, working for the Ukrainska Pravda, shows that Lukoil’s Bulgarian Burgas refinery is still processing Russian crude. The volumes are being transported by Russia’s shadow …

The U.S. has experienced record solar growth in recent years, supported by the Biden administration’s Inflation Reduction Act (IRA) and greater access to green funding. The Solar Energies Industry Association (SEIA) has recorded record levels of added solar capacity over the last year, as more solar projects were added to …

Oil prices settled little changed on Friday as markets weighed Chinese demand and interest rate-cut expectations after data showed cooling US inflation. Brent crude futures closed up 6 cents, or 0.08%, at $72.94 a barrel. US West Texas Intermediate crude futures rose 8 cents, or 0.12%, at $69.46 per barrel. …

The European Union boosted imports of Russian liquefied natural gas against the backdrop of deepening tensions over pipeline supplies that flow through Ukraine. The bloc purchased a record amount of Russian LNG this year, according to ship-tracking data compiled by Bloomberg. Among top byers, France has already hit its highest-ever …

Difficult market conditions have prompted Romanian steel industry leader ArcelorMittal Hunedoara to reduce production until year’s end. According to a notice provided to the Bucharest Stock Exchange, the longs producer’s board of directors decided to reduce production from December 9-31 and pay 75% of salaries to employees impacted by the …

Energy prices across Europe fell below zero for a record number of hours in 2024. An accelerated buildout of large-scale wind and solar farms has flooded European grids at peak production hours, causing surplus energy to be sold at a loss at increasingly frequent increments, for a grand total of …

The European Union is prepared to discuss with U.S. President-elect Trump boosting economic ties, including in the energy sector, an EU spokesperson told Reuters on Friday, hours after Trump threatened to impose “tariffs all the way” on the bloc if it doesn’t buy large volumes of American oil and gas. …

The rise of data centers and their quest for renewable energy to power AI technology will boost the growth of renewables even under President Donald Trump, the Americas head of Japan’s biggest bank, Mitsubishi UFJ Financial Group, told Reuters. “The new administration will be more constructive on fossil fuels, but …

In a significant development for European energy markets, Russian energy giant Gazprom has completed its first liquefied natural gas (LNG) delivery to Italy from its Baltic Sea-based LNG Portovaya facility. The shipment, carried by vessel Cool Rover, arrived at Italy’s FSRU Toscana terminal in Livorno, Reuters reported citing LSEG data. …

Slovakia may consider reciprocal measures against Ukraine if it doesn’t allow the transit of gas from Russia to Europe. Slovak Prime Minister Robert Fico said he was taken aback by Ukrainian President Volodymyr Zelenskiy’s refusal to allow flows after the two leaders spoke at a summit in Brussels. Zelenskiy said …