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Italy mulls bringing back nuclear energy plants

The government has appointed teams to draft specific laws to address a renewed Italian interest in nuclear energy, as well as parliamentary committees that will examine the possibilities.

Business

Sanctioned Russian oligarchs bag stake in UK’s biggest oil company

Investment firm LetterOne, owned in part by sanctioned Russian oligarchs Petr Aven and Mikhail Fridman, has acquired a minority stake (14.87%) in Harbour Energy, which is the UK’s biggest oil and gas company with operations in Norway, Southeast Asia, Germany, North Africa and Argentina.

Ecotech

Finland is building a giant heat pump to cut CO2 from warming homes

The heat pump will be part of a plant that will warm around 30,000 homes in Finland’s capital city.

Europe News

EU reaches its winter gas storage target weeks ahead of schedule

The European Union's gas storage facilities can cover up to a third of its gas demand in winter.

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Europe News

Germany seeks arrest for Nord Stream blasts, reports claim

Prosecutors have declined to comment on the investigation, which concerns explosions that damaged the pipelines built to bring Russian gas to Germany.

Earth News

Summer AC after winter heating leaves millions unable to pay bills

A significant proportion of European homes are very difficult to keep cool in summer due to the way they are designed.

Markets

Crude oil rebounds amid rising demand and Middle East tensions

Crude oil prices saw a sharp rebound after hitting a six-month low on Wednesday. Rising demand and ongoing conflict in the Middle East are driving the price increase.

Business

Strong oil and gas prices boost Shell as share buyout planned

Europe's biggest oil and gas producer, Shell, reported the second-quarter earnings that surpassed market expectations. The company announced it would buy back an additional $3.5bn (€3.2bn) in shares over the next three months.

Business

BP boosts dividend and shifts focus towards higher shareholder returns

New boss Murray Auchincloss, who took the helm in January, has shifted the company's focus towards high growth and increased returns to shareholders amid weakened profit margins.

Economy

Spain inflation falls to five-month low in July as energy prices drop

A drop in food prices contributed to the fall with items such as butter, milk, pasta, flour and chicken all becoming cheaper.

Earth News

Hungary eyes EU consensus on geothermal energy future by end of year

Shortly after kicking-off the rotating EU Presidency seat, Hungary is aligning with Poland to unfold geothermal energy in Europe.

Earth News

Investment gaps and drop in carbon sinks threaten EU climate progress

Insufficient financing is slowing down the transition towards climate neutrality and forest carbon sinks need to be enhanced to trap more carbon dioxide, new report says.

Economy

Belgian inflation soars to its highest level in 10 months at 3.74%

Italian producer prices also saw their slowest fall since April 2023, as European markets readjust after the price surges seen due to the Russia-Ukraine war.

Economy

Spanish economy bucks European trend with signs of growth

There has been an increase in household spending, and most key sectors saw robust growth on the supply side.

Markets

Crude oil prices surge sparking concerns of raised inflation risk

Crude oil prices rose to a two-month high amid optimistic demand outlooks and a decline in US stockpiles, sparking concerns of a resurgence in inflation.

World News

Power outages hit Balkan countries as region swelters in heatwave

Southeastern Europe has been slammed by a seasonally early heatwave coupled with rampant power outages. Both are leaving Balkan countries at a standstill.

Earth News

Geothermal and nuclear energy among Hungarian EU presidency priorities

The upcoming Hungarian presidency’s work programme broadly reflects EU policy objectives, but it only refers once to 'renewable' and natural gas is openly listed for targeted funding.

Focus

Baku Energy Forum focuses on AI, economic growth, and clean energy transition

In partnership with Azpromo

Advancements in AI, economic growth in in developing countries and a switch to clean energy solutions were top of the agenda at the Baku Energy Forum at Baku Energy Week.

Earth News

Member states beef up safety rules amid growing nuclear power market

EU countries agreed on new nuclear safeguards which will see a greater level of inspections on facilities and the use of nuclear materials, despite a call from environmentalists to stop financing atomic power.

Earth News

Ambitions for global renewable energy capacity unrealised, says report

Goal to triple renewable power by 2030 is achievable but countries need to put more effort on implementing energy and climate pledges, the International Energy Agency said.