Tag Archives: European Union (EU)

EU leaders on Oct. 21 reached agreement on a “roadmap” aimed at putting in place measures within weeks to shield European consumers from soaring energy prices. The accord came after 11 hours of wrangling over broad proposals to lower energy bills as gas prices pushed skywards by the war in …

The European Union’s latest sanctions on Russian petroleum could end up depriving a swath of the world’s tanker fleet of industry standard insurance, a move that threatens to undermine US efforts to avert an oil supply shock. The bloc’s eighth round of sanctions state that if a tanker owner transports …

The European Union is unveiling a new emergency package to tackle the energy crunch, betting on steps to bolster solidarity among member states. But the bloc will refrain from immediate gas-price caps amid political divisions and concerns over security of supply. The European Commission plans Tuesday to propose measures to …

The European Union’s planned package to curb surging natural-gas prices must avert an increase in the use of the fuel amid an unprecedented supply crunch, EU energy chief Kadri Simson said. The European Commission is due to propose a set of measures Tuesday to alleviate the impact of Russia’s cuts …

EU ambassadors on Tuesday night (4 October) reached a political agreement on the bloc’s new round of Russia sanctions, including an oil price cap, which earlier had been opposed by a few seafaring member states. The draft measures agreed on Tuesday that will form the eighth package of sanctions since …

The European Union on Wednesday (28 September) promised a “robust” response to any intentional disruption of its energy infrastructure after saying it suspected sabotage was behind gas leaks discovered this week on subsea Russian pipelines to Europe. As gas spewed out under the Baltic Sea for a third day after …

The temporary optimism among European politicians and governments about a less volatile natural gas market during the winter of 2022-2023 has come to an end. Just as market fundamentals seemed to be strengthening as a result of rising storage volumes and lower demand, there are a number of new risks. …

Soaring energy prices are mounting pressure on Europe to renovate its ageing, inefficient buildings as governments scramble to protect citizens from rising utility bills. Europe’s buildings are responsible for 40% of its energy consumption and many are in desperate need of better insulation in order to decrease the EU’s reliance …

Western countries’ unilateral sanctions slapped Moscow with ignite even more man-made carbon dioxide emissions from the shipping industry as Europe rejiggers energy supply chains away from Russia by sourcing energy products from far away. Jan Dieleman, Cargill Inc.’s head of ocean transportation business, told Bloomberg that European importers are hiring …

This week saw the European Commission’s President Ursula von der Leyen do something that would have probably been considered the opposite of democracy just a few years ago. She proposed that governments impose a ceiling on certain energy producers’ revenues and add a windfall profit for Big Oil majors. Called …