energy

Energy crisis: Ursula von der Leyen opens the door for an EU cap on gas prices but with caveats

Ursula von der Leyen has opened the door for a targeted and temporary EU-wide cap to rein in soaring gas prices and curb market speculation. But her message comes with caveats about the potentials risks the cap entails. “While gas prices have come down in the past weeks, they remain very high and are putting …

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Climate change made Europe’s extreme drought 20 times more likely, scientists say – POLITICAL

The “fingerprints” of climate change are all over the drought that threatened crops and disrupted power supply in the Northern Hemisphere this summer, scientists say. As record-breaking heat desiccated soils and dried up rivers across Europe, China and the United States, experts called it a glimpse of the new normal – a warning backed by …

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Swiss pursue home-grown energy panacea – reluctantly

Government wants to ramp up renewable energy output Swiss Alps facilitate hydro, solar power production European energy crisis accelerates progress But concerns about impact on landscape mean compromise BERN / GRANDE DIXENCE, Switzerland, Oct 6 (Reuters) – Having dodged most of the fuel-driven surge in inflation plaguing its neighbors, Switzerland is moving ahead with plans …

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OPEC + oil output cut ahead of winter fans inflation concerns

SINGAPORE, Oct 6 (Reuters) – Global oil supply is set to tighten, intensifying concerns over soaring inflation after the OPEC + group of nations announced its largest supply cut since 2020 ahead of European Union embargoes on Russian energy. The move has widened a diplomatic rift between the Saudi-backed bloc and Western nations, which worry …

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Infographic: Does Europe have enough gas for winter? | Oil and Gas News

Russia’s war in Ukraine has led to a European energy crisis, with the price of natural gas soaring to new highs this year. As Western nations sparred with Moscow over its invasion, Russia mostly cut off the supply of gas to Europe. In an attempt to mitigate its reliance on Russian gas, the European Union …

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OPEC + agrees deep oil production cuts, Biden calls it shortsighted

OPEC + to cut output by 2 mln bpd Real cuts estimated at 1 mln bpd due to under-production Biden criticises decision, calls it shortsighted Saudi says West’s criticism driven by wealth arrogance Saudi says cuts necessary due to rising interest rates VIENNA / LONDON, Oct 5 (Reuters) – OPEC + agreed steep oil production …

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Gas crisis set to worsen after Europe burns through winter stocks

European gas storage tanks around 90% full Gazprom resumes exports to Italy Kremlin wants to join Nord Stream leaks inquiry EU divided over proposals for gas price cap HELSINKI / BRUSSELS, Oct 5 (Reuters) – Europe may face an even more acute energy crunch next year after draining its natural gas tanks to get through …

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Germany’s coal exit deal pits Greens against climate activists – POLITICO

Germany has taken a major step toward ending coal-fired power in 2030 – while sacrificing a village the country’s climate movement regards as a red line. Climate Minister Robert Habeck announced in a press conference on Tuesday that a phaseout agreement had been reached with energy giant RWE in North Rhine-Westphalia, Europe’s largest lignite mining …

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