Tag Archives: Europe

This month, a cold front swept across much of Europe and giant tankers that carry fuel through the Red Sea were rerouted to avoid escalating violence. That should have pushed gas prices higher. Instead, they just kept falling. Even if it’s a step too far to give Europe the all-clear, …

Despite the continued escalation of tensions and conflicts in the Middle East and the diversion of LNG cargoes away from the Red Sea, natural gas prices in Europe and spot LNG prices in Asia have dropped to the lowest levels in years and months, respectively, even during peak winter season. …

Several European powers are rapidly progressing plans to expand their nuclear energy sectors, despite a lack of support from major EU powers, such as Germany. The U.K. recently announced plans for its biggest nuclear expansion in 70 years, as well as plans to extend the life of several existing facilities. …

Oil and gas companies plan to boost exploration activity and spending offshore Norway this year as Western Europe’s top oil and gas producer looks to maintain production and raise exports to the rest of Europe. Currently, most exploration efforts are focused on areas around existing infrastructure so discoveries can be …

Turkey is on track to have the third-largest natural gas storage capacity in Europe, thanks to the planned expansion of storage facilities. Its strategic geographical position makes it a key transit country for natural gas pipelines from various regions, including Russia, the Caucasus, the Middle East and Africa. Enhancing gas …

Power prices in Finland jumped to record-high levels as a deep freeze in Europe began in the Arctic parts of the Nordic countries and is set to move south to northwest Europe in the weekend and next week, creating additional energy demand and leading to higher electricity and natural gas …

Refining margins for diesel in Northwest Europe end this year 40% below the levels from the end of 2022, despite the EU ban on seaborne imports of Russian petroleum products that came into effect in February 2023. Europe has imported more diesel from the Middle East and Asia this year …

The recent easing of sanctions between the United States and Venezuela, marked by pivotal legal settlements and new commercial arrangements, represents a significant turning point for the global energy industry. These developments, particularly the resolution of disputes involving Petróleos de Venezuela S.A. (PDVSA), signal the reinvigoration of Venezuela’s oil and …

Europe banned most oil shipments from Russia almost a year ago, but it’s binging on diesel that may well have been made from Russian crude. The region’s imports of diesel from India, one of the biggest buyers of Russian crude, are on course to soar to 305,000 barrels a day, …

Europe has intensified efforts this year to protect its clean energy manufacturing industries and reduce dependence on China for its renewable energy rollout. Several proposed EU acts are aimed at boosting Europe’s competitiveness in the global clean energy supply chain and minimize risks to energy infrastructure security. Europe’s wind industry, …