Thursday, March 6, 2025

Europe

Goldman Sachs predicts what will happen to Europe’s economy if Putin shuts off the gas taps

March 11, 2022

CNBC LONDON — Natural gas is one of several commodities caught in the crossfire of the conflict in Ukraine, and the European economy could take a hit if Russia halts its exports. Supply-side risks arising from the war have stoked extreme volatility across global commodity markets, with oil, nickel and wheat also surging alongside natural gas in recent weeks. Natural gas

EU considers energy sanctions on Russia after nuclear power plant attack

March 4, 2022

CNBC The European Union is debating new sanctions against Russia — and this time they could hit the energy sector. Three European officials, who did not want to be named due to the sensitivity of the talks, told CNBC that ministers will be looking at imposing energy sanctions on Russia when they meet Friday. EU foreign affairs ministers are meeting

Europe eyes costly options to live without Russian natural gas

March 3, 2022

World Oil (Bloomberg) — Western European nations are scrambling for ways to live without Russian natural gas, bracing for the possibility that either the Kremlin switches off the taps or political pressure for tighter sanctions erupts into a full energy embargo. With Russian troops advancing into Ukraine, European Union governments are concerned that the source of 40% of the region’s

Germany freezes Nord Stream 2 gas project as Ukraine crisis deepens

February 22, 2022

Yahoo Finance BERLIN – Germany on Tuesday halted the Nord Stream 2 Baltic Sea gas pipeline project, designed to double the flow of Russian gas direct to Germany, after Russia formally recognised two breakaway regions in eastern Ukraine. Europe’s most divisive energy project, worth $11 billion, was finished in September, but has stood idle pending certification by Germany and the

EU considering more transparent carbon market reporting – draft

February 18, 2022

Yahoo Finance BRUSSELS – The European Union is considering making more information available on trading in its carbon market, according to a draft document, amid calls from some governments to limit financial speculators’ participation in the scheme. Tougher EU climate targets and high gas prices leading some power generators to switch to higher-emitting coal have helped to drive a jump

Elevated geopolitical risks in Europe, Middle East pushing oil prices up

January 24, 2022

Oil Now Oil prices rose on Monday on worries about supply disruption amid concerns about Russia-Ukraine discord and rising tensions in the Middle East, which could make an already tight market even tighter. Brent crude rose 31 cents, or 0.4%, to $88.20 a barrel by 1009 GMT. U.S. West Texas Intermediate (WTI) crude gained 21 cents, or 0.3%, to $85.35.

Norway wealth fund will pressure, not divest from high gas emitters

December 21, 2021

Reuters OSLO, December 21 – Norway’s $1.4 trillion wealth fund, the world’s largest, will not deny firms that emit major greenhouse gases to meet plans to carbon-neutralize its investment portfolio by 2050. The deputy head of the central bank – which is the foundation’s director – announced on Tuesday that such companies will be “active shareholder” by encouraging them to

Italy plans ‘special areas’ for renewables to help cut red tape

May 24, 2021

Reuters Italy has drawn up a series of measures to speed up the time it takes to authorise new renewable energy projects, including the creation of special areas to build them in, a draft law showed. Italy’s complex approval process has slowed down the rollout of green energy schemes, threatening access to EU recovery funds and the achievement of climate

Norway supreme court verdict opens Arctic to more oil drilling

December 22, 2020

Reuters OSLO – Norway’s supreme court upheld government plans for Arctic oil exploration on Tuesday, dismissing a lawsuit by campaigners who said they violated people’s right to a healthy environment. While most of Norway’s oil output flows from south of the Arctic, the government believes the greatest untapped potential lies in the Barents Sea off Europe’s northernmost coast. Tuesday’s verdict

Denmark Asks Nord Stream 2 To Assess Third Route Option for Gas Pipeline

March 28, 2019

From Reuters The Danish Energy Agency has requested an environmental assessment of a third route option for the Nord Stream 2 gas pipeline in Danish waters, a move that could delay the project to pump Russian gas to Europe. The 1,225 km (765 miles) pipeline, now under construction, has come under fire from the United States and several eastern European,

Arctic Oil Drilling Under Attack as Norway Dragged to Court

November 13, 2017

From: Bloomberg A group of activists is trying to put a stop to Norway’s Arctic oil exploration and forcing the country to defend itself in the first court case of its kind. Greenpeace and a Norwegian group, Nature and Youth, say Norway’s decision to award 10 Barents Sea exploration licenses in 2016 to Statoil ASA, Lundin Petroleum AB, Chevron Corp. and others, breaches the country’s

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