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Europe News
EU to make last-minute decision on Arctic oil and gas drilling ban
The European Commission will soon unveil its revised Arctic strategy and whether to maintain or scrap its 2021 position on new oil and gas exploration in the High North. The International Energy Agency and Norway have urged Brussels to reconsider the ban.
Economy
Europe’s gas prices are surging. Who will be the first to pay more?
Europe could face its toughest winter gas season since 2022 as wholesale prices trade near their highest level in more than three years. Household bills could rise quickly in the Netherlands while taking nearly a year to fully adjust in Germany and Austria.
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Business
BP returns to Venezuela as post-Maduro energy opening accelerates
Venezuela has awarded BP a licence to develop the offshore Loran gas field alongside state-backed partners from the UAE and Qatar, marking the British company's return to a country whose energy sector has been reopening to foreign investors since US forces captured Nicolás Maduro.
Economy
Oil sinks to three-month low as IEA warns stocks at 35-year low
Oil prices fell below $80 per barrel as markets grew increasingly confident that the effective closure of the Strait of Hormuz is coming to an end. This comes as strategic oil reserves in advanced economies have fallen to their lowest level since 1990, according to the IEA.
