The European Union agreed to put a price cap on Russian oil at $60 a barrel, paving the way for a wider Group of Seven deal.
The European Union is closing in on a deal to cap the price of Russian crude oil at $60 a barrel, their latest attempt to clinch an agreement before a Monday deadline, according to people familiar with the matter.
Europe’s electricity market has been operating for a long time and any potential reworking of the system should be evaluated very carefully, according to the continent’s largest utility.
France will reap €30.9 billion ($31 billion) from renewable-power producers over two years as Europe’s energy crisis boosts wholesale prices beyond guaranteed levels.
The European Union is proposing a cut back in lengthy planning rules for building renewables projects in the latest push to lower electricity prices and reduce gas use in energy.
Record electricity prices are damaging Europe’s attempts to build its solar and battery sectors, as manufacturers face mounting costs, warns Rystad Energy.
Europe can rebalance its gas supply and replace Russian gas imports before 2030, but will have to take some tough decisions on LNG.
The European Union is set to propose a mandatory target to cut power use -- a step toward rationing -- along with measures to funnel energy company profits to struggling consumers as it tries to stem the crisis.
Europe faces the risk of blackouts, rationing and a severe recession if Russia further slashes gas deliveries, and the next reality check is at hand.
The European Union is planning urgent steps to push down soaring power prices, Commission President Ursula von der Leyen said on Monday.
Senegal is positioning itself as an alternative source of gas for Europe as Russia cuts supplies of the fuel.
European energy security faces a seemingly impossible task of meeting short-term demand with longer-term decarbonisation. Society does not have the luxury of declaring this to be impossible, though, so must take steps now to meet the challenges.
The oil market hasn’t yet priced in the impact of European Union sanctions aimed at Russian supplies, which adds impetus to a US plan to cap the price of the country’s exports to avoid a price spike, according to a US Treasury Department official.
The European Union's plan to reduce the bloc's natural gas use by 15% to prepare for a potential cut-off by Russia this winter has received sharp scepticism from Spain and Portugal.
Europe will face a tough winter with even higher energy costs, Shell Plc’s Chief Executive Officer Ben van Beurden said Thursday.
Europe has botched an historic opportunity to create a global benchmark for sustainable investing after agreeing to treat gas as a green asset, according to bankers, investors, climate activists and their lawyers.
European lawmakers are under pressure from Ukraine to block plans to treat gas as a green asset, plunging into serious doubt an EU Parliament vote that not long ago seemed set to endorse the proposal.
A “rewriting” of energy trade flows is now underway according to Wood Mackenzie analysts, as Europe's move to wean itself off exports from Russia boosts investment in energy transition and LNG, but increases supply chain risks.
The UK spent around £5 billion on imports of Russian oil, gas and coal in the year to April 2022 according to a House of Commons research briefing, as the government looks to halt supplies by the end of this year.
Over the past few months, Europe has radically accelerated its energy ambitions, placing hydrogen at the centre.
Europe needs new sources of energy, particularly zero carbon energy, while Namibia offers abundant solar and wind. Can hydrogen bridge the gap, providing scope for both to prosper on the route to net zero?
The European Union and Egypt are set to sign a deal later this month on supplying the bloc with gas as the bloc seeks to slash its dependence on Russian supplies, according to a draft document.
Energy ministers from Denmark, Germany, Belgium and the Netherlands have pledged to install at least 150 gigawatts of offshore wind by 2050, in a bid to support the EU’s drive to reduce its use of Russian oil and gas.
The European Union unveiled a raft of measures ranging from boosting renewables and LNG imports to lowering energy demand in its quest to cut dependence on Russian supplies.
Denmark wants to temporarily increase its output of natural gas to help Europe wean itself off Russian energy.