The heads of major industrial companies want the European Union to cut energy costs and the regulatory burden of green rules to help the region stay competitive as the energy transition accelerates.
The European Union is shying away from further measures to protect its embattled clean-tech industry from cheap Chinese imports over concerns it could make it harder to source key components and raise the cost of the green transition.
The European Union issued its most ambitious climate roadmap just as the bloc is facing severe headwinds from angry farmers and an ailing industrial base increasingly alarmed about the high costs of a rapid green transition.
The European Union estimates it will need to more than double its electricity generation by the middle of the century and boost renewables to reach its ambitious goal of climate neutrality.
The European Union’s executive arm is set to recommend a 90% net reduction of greenhouse gases by 2040, a target backed by climate scientists and criticized by the industry in the face of high energy prices and growing international rivalry in clean technologies.
Francesco Mazzagatti called for the UK to develop a more coherent energy transition policy inclusive of oil and gas producers.
The European Union built a record number of new wind farms in 2023 but is still trailing its own targets for adding the renewable resource to its energy mix to reach its climate ambitions and cut reliance on Russian gas.
The green shift in the 27-nation bloc, which is already legally bound to reduce greenhouse gases by 55% this decade, will affect every corner of the economy.
University of Edinburgh researchers spearhead €5.2 million EU-funded project to establish European carbon removal market.
The EU Commission has launched its first European Hydrogen Bank auction with €800 million (£695m) in subsidies available for renewable hydrogen production.
A French rule targeting ESG funds has the potential to force oil and gas divestments of €7 billion ($7.6 billion), according to an analysis by Morningstar Inc (NYSE: MORN).
European Union negotiators struck a deal to curb methane releases from fossil-fuel infrastructure and plotted a course to monitor and limit the emissions associated with imported energy sources.
Ministers now say Scotland has around 10% of European Union offshore energy potential, down from previous claims of 25%
The European Union launched a wind power package on Tuesday to counter the growing influence of China and spur its own industry, as the bloc focuses more firmly on China as the biggest threat to its clean-tech industry.
Report shows the pace of development in the global hydrogen sector is accelerating, and the researchers are warning the UK is at risk of falling further behind the European Union and the United States.
The European Union will pledge to prop up its wind industry in the face of toughening global competition, supply-chain bottlenecks and financing concerns to ensure that the bloc can meet ambitious climate and sustainable growth plans.
The European Union is planning to unveil measures to help its ailing wind sector next month, after supply-chain bottlenecks and higher financing costs have put a brake on projects.
The European Union should take steps to stop the waste of solar energy and limit negative pricing in order to encourage investment, according to renewable energy groups.
The most significant legislative development for employers in the Oil & Gas sector this year is the Retained EU Law (Revocation and Reform) Bill (the “Bill”).
“We also expect production of hydrogen in the USA on account of the Inflation Reduction Act [IRA], and this surely supports the plausibility of the hydrogen import target – as long as US and EU can make concessions to each other,” the Topsoe executive said.
The European Union and Norway will form a “Green Alliance” to bolster cooperation in clean industries like carbon capture and storage and hydrogen as they look to strengthen the region’s potential as an energy technology hub.
Greenpeace said it’s suing the European Union’s executive over its decision to grant some gas and nuclear power stations a “fake” green label under EU sustainable finance rules.
ExxonMobil is reportedly suing the European Union over its newly instilled windfall tax on oil and gas producers, arguing that the bloc has overstepped its authority in enacting the measure.
With just days remaining until the European Union imposes a price cap on Russian oil, much uncertainty remains.
International sanctions on Russian crude will reduce supply by 2 million barrels per day of crude, Windward AI CEO and co-founder Ami Daniel has predicted.