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Oil

G7 leaders are designing a price cap to slash the Kremlin's oil revenues.

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The G7 wants to cap the price of Russian oil. It won't be easy.

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UKRAINE WAR UKRAINE RUSSIA WAR UNITED KINGDOM RUSSIA RUSSIA-UKRAINE INVASION

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Ben van Beurden speaks at an event in January 2019. van Beurden has called for governments to tax energy firms to help the 'poorest'.

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Shell boss calls for tax on energy firms to help ‘poorest’ people

As energy prices soar, Shell’s chief executive has said that a tax on big firms is ‘inevitable’ - but has urged against capping prices.

05/10/2022

The shipping industry of Greece, Cyprus and Malta plays a key role in transporting Russian oil around the world.

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EU agrees new sanctions on Russia including price cap on Russian oil

"This oil cap will help reduce Russia's revenues and keep global energy markets stable," European Commission President Ursula von der Leyen said.

05/10/2022

Energy giant Shell has posted record profits for a second straight quarter as the company benefits from the soaring price of oil and gas fuelled by Russia’s war in Ukraine.

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Shell reports record profits amid cost of living crisis

Russia's invasion of Ukraine has sent energy prices soaring and boosted profits for energy companies.

28/07/2022

A delivery vessel accidentally spilled over 159,000 litres of oil into the ocean.

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Oil spill in the Bahamas turns crystal clear beach orange

Even small oil spills can harm or kill ocean life, especially if they're in sensitive areas such as beaches.

22/07/2022

Josep Borell has defended the EU ban on Russian oil against criticism.

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EU pushes back against claims Russian oil ban is hiking prices

The EU ban will not be completed until the end of the year, so its economic effects are still unclear.

20/07/2022

Activists from the 'Just Stop Oil' campaign group, with hands glued to the frame of the painting 'The Hay Wain' by English artist John Constable.

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Just Stop Oil: Who are the protesters gluing themselves to art?

The group has gripped the headlines in recent weeks with mixed responses to their climate change protests.

09/07/2022

his aerial view shows the Liquid Natural Gas (LNG) terminal on the Maasvlakte in Rotterdam.

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Ukraine war has caused a fossil fuel ‘gold rush’, new report finds

Leading climate researchers have found that the world is investing in new oil and gas projects in the wake of Russia’s invasion.

08/06/2022

European Commission President Ursula von der Leyen called the oil embargo an "important step forward."

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'It's a big deal': Experts and MEPs weigh in on EU's Russian oil ban

The phase-out of seaborne crude is considered the most radical measure taken by the EU since the Ukraine war broke out.

01/06/2022

Oil storage tanks on the Druzhba pipeline at the Belarusian town of Mozyr, some 300 km (188 miles) southeast of Minsk.

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Why the Druzhba pipeline was spared from the EU ban on Russian oil

Hungary's PM Viktor Orbán scored a big win by forcing an exemption into the original proposal.

31/05/2022

EU leaders agree to exempt the oil imports coming from Russian pipelines.

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EU leaders endorse ban on Russian oil, exempting pipeline imports

The European Council agreed to a Hungarian demand to completely spare oil imports coming through pipelines.

30/05/2022

Protests at the Hungarian Embassy in Poland.

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Why is Hungary standing in the way of an EU embargo on Russian oil?

Actions at embassies across Europe call out Prime Minister Orbán as the biggest obstacle to weaning the bloc off of Russian fossil fuels.

26/05/2022

Von der Leyen accused Russian of provoking the "starvation of millions of people" through the blockade of the Black Sea.

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EU may reach deal on Russian oil ban 'in a matter of weeks', says VDL

The proposed embargo has hit an impasse as Hungary demands a lengthier phase-out and extra investments to revamp its energy system.

24/05/2022

It took some people days to refill their car with petrol in Odesa.

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We ‘couldn’t find gas’ yesterday: Odesa deals with petrol shortage

We ‘couldn’t find gas’ yesterday. Euronews international correspondent Anelise Borges spoke with some of the residents of Odesa dealing with its petrol shortage

15/05/2022

Ursula von der Leyen personally unveiled the proposal for a EU-wide on Russian oil imports but the final agreement is yet to be reached.

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Talks on an EU-wide Russian oil ban could drag on until end of May

Hungary, Slovakia, Bulgaria and the Czech Republic are against the timeline of banning Russian oil imports by the end of the year.

13/05/2022

The PCK oil refinery in eastern Germany

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EU-wide ban on Russian oil would threaten German refinery's future

"Our existence is in play," one worker told Euronews.

11/05/2022

A partial view of the pumping station of the oil pipeline Friendship I at Tupa, Slovakia, near the Hungarian border, Febr. 9, 2015.

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A week on, the EU appears no closer to a Russian oil embargo

Unlike other rounds of sanctions against Moscow approved swiftly by member states, these talks have been slow and optimism is diminishing.

10/05/2022

Talks between Ursula von der Leyen and Viktor Orbán yielded "some progress," according to Hungarian officials.

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EU ban on Russian oil: Orban-VDL talks fail to produce a breakthrough

European Commission President Ursula von der Leyen flew to Budapest to discuss the ban on Russian oil but said "further work is needed".

10/05/2022

In his State of the Union address, Joe Biden said the US would work to seize more yachts and assets owned by Russian oligarchs.

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Ukraine war: What more could the US do to tighten sanctions on Russia?

The EU is proposing a new package of sanctions on Russia, including an oil embargo. Where does that leave its Western allies?

10/05/2022

Sept. 10, 2011 file photo photo showing an oil rig near the town of Usinsk, 1500 kilometers (930 miles) northeast of Moscow.

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Hungary, Slovakia, Czechia and Bulgaria resist EU ban on Russian oil

Discussions between EU ambassadors continue on Monday to reach an agreement to phase out all imports of Russian oil.

09/05/2022

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06/05/2022