Europe's energy crisis
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Europe News
EU downplays jet fuel shortage risks despite IEA warning
EU officials and the International Energy Agency have contrasting narratives over jet fuel supply. While the European commission minimises the risk, it acknowledges that the market remains “tight” and says the EU is prepared to respond appropriately.
Europe News
EU to slash power bills by cutting taxes and grid costs
The Commission's draft proposal to change energy taxation risks being politically sensitive as several EU countries have limited fiscal space. Environmental groups urge Brussels to propose a windfall profit tax to help EU capitals deal with soaring energy prices.
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Europe News
Energy prices set to rise as last Gulf Tankers reach Europe
Energy analysts have warned of surging energy prices beyond already elevated levels, as the last vessels carrying oil and natural gas from the Strait of Hormuz before the conflict have reached Europe. Supply forecasts for oil and gas remain optimistic as US deliveries are expected.
Europe News
EU considering excessive profit taxes on oil and gas companies
The European Commission is considering taxing windfall profits, similar to the mechanism applied in 2022 during the natural gas crisis. The plea came from five EU countries, which also called for the tax to be expanded to foreign profits dealing with fossil fuels.
Europe News
What impact could an Iran ceasefire have on energy prices?
The announcement of a two-week ceasefire in the Middle East has triggered an immediate drop in oil and natural gas prices, raising hopes for lower energy bills. However, consumers might not see the effects for several months, even though the oil industry has issued some optimistic forecasts.
Europe News
How serious will the jet fuel crisis in Europe become?
Jet fuel prices have increased by 95% since the United States and Israel launched military attacks against Iran on 28 February. Higher fares, fuel surcharges and reductions in capacity or limiting of unprofitable routes will be the new normal, energy analysts warn.
World News
Iran war and energy supply issues propel South Caucasus collaboration
When it comes to connecting the continents of Asia and Europe, Azerbaijan and Georgia play a vital role in the transit of energy. The leaders of both countries have outlined how they will work together to broaden the Middle Corridor.
Europe News
Will the Iran war threaten the EU's green transition?
The European Union's climate ambitions could be delayed as the war against Iran is driving energy prices through the roof and raising questions of supply security. EU leaders maintain the conviction that the path to energy independence lies in more clean power and less reliance on fossil fuels.