Tag Archives: Europe

Europe’s oil demand, especially road fuel consumption, has rebounded in recent weeks, as many Europeans hit the road for late summer vacations after a year and a half of restrictions and lockdowns. Airline traffic in Europe is still 30 percent below pre-COVID levels from 2019, but road fuel demand has …

Europe is facing an energy price shock as the cost of natural gas and electricity surges to record levels. A gas supply crunch is boosting the cost of producing power from the U.K. to Germany just as businesses reopen and people return to the office, increasing demand. Rising prices are …

European energy executives have warned of a difficult winter ahead as natural gas prices soar to records, a grim prospect for households and businesses recovering from the global pandemic. Gas prices in Europe are breaking records day after day as economies reopen and people return to the office, boosting demand …

The gas price in Europe went up to over $625 per 1,000 cubic meters during Wednesday trading, according to data provided by London’s ICE. Particularly, the price of gas futures for October delivery at the TTF hub in the Netherlands reached $625.9 per 1,000 cubic meters, or 51.8 euro per …

Gazprom must sell the Nord Stream 2 gas pipeline to comply with European competition standards. This view is shared by the European Commission, reports Frankfurter Allgemeine Zeitung, citing officials in Brussels. The EU Third Energy Package prohibits the same company from being both a gas supplier and the owner of …

Europe wants to achieve climatic neutrality in 25 years and will need much less gas than today, German Chancellor Angela Merkel said on Sunday after talks with Ukrainian President Vladimir Zelensky. “Europe will need to achieve climatic neutrality step by step by 2050,” she said. “It means that in 25 …

Gazprom, apart from limiting gas transit to Europe via its export gas pipelines, is also persistently emptying the European gas storage facilities under its control. This is leading to historically high gas prices on the European market, and is a harbinger of a crisis in the coming heating season. Record …

The sovereign wealth fund of Norway, which manages $1.4 trillion (€1.2tn) in assets, has said there are oil companies in its portfolio that “absolutely” aren’t doing enough to cut emissions, as the guidelines under which it operates are reviewed, potentially giving the investor more scope to act. Norges Bank Investment …

Russian state-run energy giant Gazprom has increased gas supplies to Western Europe in the first six months of the year by 28.52% compared to the same period last year. The company’s gas exports to Europe amounted to some 77.235 billion cubic meters by June 2021, Gazprom said on Friday. Gas …

Russia’s gas giant Gazprom boosted its natural gas exports to Europe by 23 percent annually in January to July 2021, Gazprom Export said this week. In the first seven months of this year, Gazprom’s gas sales to Turkey and Europe reached 115.3 billion cubic meters, up by 23.2 percent annually, …