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Marta Pacheco

Europe News

Energy crisis: 5 countries appeal to EU for windfall tax

Economy and finance ministers from Italy, Germany, Spain, Portugal and Austria are asking the EU for a tax on energy surplus profits to curb price increases.

Europe News

How long can the EU’s oil reserves last?

The 400 million barrels of oil released by the International Energy Agency — of which 92 million barrels were contributed by 20 EU countries — could last about five months, according to analysts. The bloc also relies on storage reserves.

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.

Europe News

EU urges countries to remain aligned to cope with market volatility

Energy Commissioner Dan Jørgensen emphasized that EU unity is crucial to managing the energy crisis, with oil up 70% and natural gas 50%, raising concerns over supply security.

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Europe News

Euronews explains: What the Strait of Hormuz crisis means for Europe

The closure of the Strait of Hormuz is rattling global markets, sending energy prices soaring and fuelling fears of supply shortages. Euronews explains:

Europe News

EU calls on member states to curb oil and gas demand

EU urges governments to boost energy savings and explore alternatives amid supply pressure, letter seen by Euronews reveals.

Business

G7 pledges to take 'all necessary measures' to safeguard energy market

G7 countries said they are ready to take “any necessary measures” to preserve stability in the energy market through coordinated action. However, no specific measures have been announced at this stage.

Europe Today

Ireland calls for carbon border tweaks amid fertiliser shortage

Irish minister says farmers and rural communities are under pressure from the Middle East war fallout as Dublin calls on the European Commission to ease carbon border rules on fertilisers.

Europe News

EU ministers weigh oil price cap and windfall tax to rein in prices

Ahead of a ministerial meeting in Brussels, the European Commission urged EU finance ministers to keep energy relief measures short-term while staying on track with decarbonisation goals.

Europe News

Europe’s gas prices on the brink as Qatari LNG flows stall

Energy analysts predict a drastic surge in natural gas prices if Qatari LNG imports to the EU remain halted for another three months. If the Iran war drags on for another six months, Europe could face conditions similar to the 2022 energy crisis.

Europe News

EU Chemicals Agency backs sweeping 'forever chemicals' ban

The European Chemicals Agency's opinion follows pressure from Sweden, Denmark, Germany, Norway, and the Netherlands to take urgent action to restrict PFAS use due to its environmental and health impact. The European Commission will decide on whether to act upon ECHA's opinion by the end of 2026.

Europe News

LNG tide turns to Asia leaving Europe short on supply

Europe is losing LNG shipments to Asia as the war in the Middle East impacting Qatari facilities pushes prices higher. Italy and Belgium scramble for alternative supplies in mega competitive market.

Europe News

EU pushes early gas refills while easing storage targets on Iran war

Goal is to avoid panic buying while ensuring that EU countries' gas storage is replenished by next winter. The European Commission also told member states to refill below the 90% level set by law in 2022.

Economy

IEA urges swift cuts in oil demand, encourages remote work

As the war in the oil-rich Middle East keeps escalating, the International Energy Agency is calling on governments to take measures to reduce oil demand by pushing remote working, reducing speed limits and encouraging a shift towards public transport.

Europe News

Ten EU countries reinforce attack against ETS ahead of key EU summit

Ahead of a key European summit on Thursday, 10 EU countries intensified attacks on the bloc's climate policy, warning that the current system is damaging industry. They're calling for a slower and more flexible approach to protect competitiveness while pursuing the green transition.

Europe News

Commission resists overhaul of carbon pricing, calls for tax cuts

Commission resists overhaul of carbon pricing while pushing for tax cuts on energy despite calls from member states to suspend rules as oil prices soar.

Europe News

Why is the Strait of Hormuz critical to Europe?

The closure of the Strait of Hormuz is affecting energy prices for industries and households, but the vital trade passage also accounts for a significant share of fertiliser shipments, threatening long-term food production. Euronews' explainer goes through the main issues affecting the Strait.

Ukraine

Zelenskyy resists Druzhba, it's no different to lifting oil sanctions

Ukrainian President insists he is personally against restoring oil flows through the damaged Druzhba pipeline, suggesting that Europe either enforces sanctions on Russia or it doesn't. Hungary insists on sabotage.

Europe News

EU Commission urged to find ways to lower energy bills

EU leaders have asked the European Commission to review electricity prices and the EU Emissions Trading System to curb price volatility while preserving climate incentives.

Europe News

Brussels backs mini-nuclear power plants to secure low-carbon power

The EU is counting on small nuclear reactors to help meet climate targets and stabilise power supply, but some countries and environmental groups warn the technology is costly and unproven.

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