Europe is “returning to petrol”, according to a new article from Yahoo Finance which highlighted Volkswagen’s EV sales as the canary in the coalmine. Sales of Volkswagen’s electric vehicles have declined by nearly 25% in Europe, with a noticeable shift back to gasoline-powered cars amid waning interest in battery-operated models, …
Read More »U.S. Attracts Europe’s Beleaguered Solar Companies
It’s nearly two years since the United States Congress passed the historic Inflation Reduction Act (IRA), with the country’s solar sector expected to be one of its biggest beneficiaries. According to the U.S. Solar Energy Industries Association (SEIA), the IRA will drive an additional 160 gigawatts (GW) of solar capacity …
Read More »Europe Makes it to the Other Side of Winter with Record Levels of Natural Gas
Europe has managed to make it through this winter season with record levels of natural gas in storage, setting it up to head into next winter on solid ground. With the end of March essentially wrapping up the typical winter season, natural gas stores in Europe remain 58.7% full, Gas …
Read More »EV Makers Worried about Europe’s Charging System
Carmakers preparing new EV models in a bid to take over the European market are worried grid and charging network constraints could challenge sales. According to a Bloomberg report, executives from some of the largest carmakers are flagging a lack of fast-enough grid expansion and the absence of a single …
Read More »Indian Steelmaker Plans to Build Europe’s most Advanced Rail Mill
One of India’s fastest-growing steel companies JSW Steel, recently announced the next step in its growth plan. In a major steel news event, JSW Steel Italy SRL inked a memorandum of understanding (MoU) with the Italian government to re-start production operations at the Piombino plant via a €140 million investment. …
Read More »Egypt Signs 7 Green Energy Deals with Global Developers
Egypt has signed seven memorandums of understanding (MoUs) with international developers and government entities in the fields of green hydrogen and renewable energy, the Egyptian State Information Service said Wednesday. Prime Minister Mostafa Madbouly and a number of ministers attended the signing ceremony for the agreements at the government headquarters …
Read More »Azerbaijan Eyes Increased Gas Exports to Europe with Support from U.S.
Azerbaijani Energy Minister Parviz Shahbazov visited Washington on February 20-21. He held meetings with senior U.S. officials and secured an agreement that could be a significant step towards boosting Azerbaijani gas exports to Europe. The sides “agreed to cooperate in the direction of US support for the expansion” of the …
Read More »Qatar Set to Sign more LNG Supply Deals with Europe and Asia
QatarEnergy, the state giant of one of the world’s top liquefied natural gas exporters, expects to soon announce new LNG supply agreements with European and Asian buyers as it is working on the world’s largest LNG export capacity expansion. QatarEnergy could also sign additional agreements to welcome more partners in …
Read More »Europe’s Oil Demand is Lifting Prices in West Africa and the North Sea
Europe’s oil refineries are stepping up crude purchases following a surge in the price of diesel and disruptions to imported shipments from the Middle East. The situation is driving up the cost of physical barrels of oil. Two key West African grades, Forcados and Egina, were recently offered at premiums …
Read More »European Industry Hesitant to Boost Natural Gas Demand amid Price Volatility
European industries continue to be hesitant about boosting natural gas consumption, although prices are now a fraction of the records seen in 2022 and Europe appears to have put the worst of the energy crisis behind. The still high volatility in gas futures prices, compared to historical averages, and uncertainties …
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