Tag Archives: Bloomberg News Agency

The Group of Seven urged OPEC to pump more oil, even as it made new pledges to try to fight climate change. “We call on oil and gas producing countries to act in a responsible manner and to respond to tightening international markets, noting that OPEC has a key role …

The European Union is discussing the idea of temporarily exempting Russian oil supply via the Druzhba pipeline from a ban on imports of Russia’s crude, as leaders are trying to persuade Hungary to drop its opposition to an embargo, Bloomberg reported on Friday, quoting sources with knowledge of the discussions. …

Russian oil production has been falling since its invasion of Ukraine. Russia’s crude producers are struggling to place all their oil on the market—especially the European one—and domestic refinery throughput is also slumping amid lower demand. Despite this, rising oil and gas prices have resulted in record-high oil and gas …

Norway, western Europe’s largest oil and gas producer, should share the huge profits it has made from oil and gas exports since the Russian invasion of Ukraine, Poland’s prime minister Mateusz Morawiecki said this weekend. “They should share these excess profits. It’s not normal, it’s unjust. This is an indirect …

The liquefied natural gas market is hurtling toward a potentially historic shortage this winter as the world rushes to secure the super-chilled fuel. Europe’s plan to cut imports of piped Russian gas by two-thirds by the end of the year and replace it with LNG from the US and Africa …

China tripled investment in solar power projects in the first four months, putting the nation on track to install record amounts of new clean energy capacity. Investment in solar was 29 billion yuan ($4.3 billion) from January through April, about 204% higher than in the same period a year earlier, …

Offshore wind power installations will increase nearly nine-fold this decade as the world pours $1 trillion into the clean energy technology to help meet climate goals, according to consultancy Wood Mackenzie Ltd. Twenty-four countries will have turbines at sea by 2030, accounting for 330 gigawatts of generating capacity, analysts including …

Around half of Gazprom PJSC’s foreign clients have complied with a request from Russia’s president to open accounts with Gazprombank JSC, according to Deputy Prime Minister Alexander Novak. The shift in procedure follows a demand by Vladimir Putin in March that foreign buyers open ruble and foreign-currency accounts at the …

The European Union is set to unveil a raft of measures ranging from boosting renewables and LNG imports to lowering energy demand in its quest to cut dependence on Russian supplies. The 195 billion-euro ($205 billion) plan due Wednesday will center on cutting red tape for wind and solar farms, …

Hungary told its European Union counterparts that it will cost at least 770 million euros ($810 million) to revamp its oil industry as they wrangle over potential sanctions that would target Russian supplies. Prime Minister Viktor Orban’s government said 550 million euros were needed to overhaul its refineries to comply …