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EU Commission set to slam Italy's fuel duty cuts amid energy crisis

The EU Commission is set to criticise the Italian government's reduction in excise duties on fuels in a report to be published on Wednesday. Rome has been asking for more fiscal flexibility to address the energy crisis, which Brussels deems should be directed at vulnerable families and industries.

Economy

ECB rate hike in focus as Eurozone's 'Big Four' post high inflation

Inflation picked up across the EU’s largest economies in May, driven by higher energy prices, fuelling expectations that the ECB will raise interest rates at its June meeting.

Business

Chevron enters Greek offshore project as Europe seeks energy security

Chevron has applied to join a Greek offshore exploration area known as Block 10 in the Ionian Sea, in a move that could strengthen Greece's role in Eastern Mediterranean energy security.

The Europe Conversation

‘Electrification is key to save Europe’s industry,’ IEA tells Euronews

The International Energy Agency's chief Fatih Birol told Euronews that the EU should embrace the 'age of electricity' to boost industrial competitiveness.

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Europe Today

Birol warns Europe easing Russia sanctions would be a 'major mistake'

IEA chief says “knocking on Russia’s door” would be a repeat of past mistakes, even as the EU is rattled by a price shock stemming from the Strait of Hormuz shutdown. Agency warns of "biggest energy security crisis ever".

Europe Today

IEA warns of biggest energy security crisis in modern history

The International Energy Agency is warning the world is “facing the biggest energy security crisis in modern history” as the shutdown in the Strait of Hormuz continues to rattle the global energy market. We have an exclusive interview with IEA's executive director, Fatih Birol.

Europe News

Meloni bashes Brussels for financial flexibility amid energy crunch

Italian Prime Minister Giorgia Meloni has begun pressing in Brussels for greater fiscal flexibility to curb rising energy costs. With general elections scheduled for 2027, a surge in energy prices could undermine public support for her government.

Europe News

MEPs accuse EU of copy-pasting Microsoft lobbying into data centre law

At the core of the dispute is a European Commission rule on data centre ratings, which EU lawmakers say would significantly restrict public access to information about the environmental performance of individual facilities.

Business

BP sacks chairman Manifold in fresh blow to troubled energy giant

Albert Manifold is the third senior BP leader to exit under a cloud in three years, as the British energy giant's boardroom turmoil shows no sign of abating.

Business

Egypt to ship Cypriot gas to Europe in QatarEnergy deal

QatarEnergy and ExxonMobil have signed a deal with Egypt to pipe Cypriot offshore gas to Egyptian liquefaction facilities for export to Europe — the latest sign that Egypt is becoming the Eastern Mediterranean's dominant energy hub.

Business

German business confidence rises despite Iran war energy shock

German business confidence rose unexpectedly in May, breaking a run of declines linked to the Iran war and offering cautious optimism that Europe's largest economy is proving more resilient than initially feared.

Europe News

EU weighs limited fiscal flexibility on energy after Meloni push

EU weighs fiscal flexibility measures to tackle the Strait of Hormuz energy crisis after Meloni push, but warns of limits of expansionary policy

Europe Today

EU ‘should not’ look to Russia for energy relief, Dombrovskis says

Exclusive: European Commissioner for the Economy Valdis Dombrovskis said Russia is milking the crisis in the Middle East for energy profits – and the EU will not ease on its sanction regime for cheaper oil or gas flows.

Europe Today

Dombrovskis rules out easing Russia sanctions despite inflation fears

After the EU downgraded its economic growth forecast and warned of rising inflation, EU economy chief Valdis Dombrovskis tells Europe Today the bloc will not ease Russia sanctions, unlike the US and UK, despite pressure to cushion the energy crisis linked to the Iran war.

Cuba

Trump calls Castro charges big moment but says no need for escalation

An unsealed indictment accused Castro and others of murder, conspiracy to kill Americans and destruction of aircraft.

Earth News

Major European energy deal ‘engineers fossil gas dependency’ - report

Campaigners are questioning whether French TotalEnergies and Czech EPH’s partnership will really improve Europe’s energy security.

Earth News

Greece has abundant cheap green energy. Why are bills still high?

Solar energy producers have called for a halt to new renewable projects, as battery storage lags behind a growing oversupply.

Cuba

Rubio says Cuba's leaders must go as US dangles €85 million in aid

Cuba lost the source for around half its fuel needs when US forces snatched Venezuela’s president in a stunning January raid, with his successor complying with US pressure not to aid the island.

Business

How much did electricity and gas prices go up due to the Iran war?

Household gas prices rose across EU capitals between early February and early April, reflecting the impact of Middle East tensions. However, electricity prices fell on average, highlighting diverging trends in Europe’s energy markets.

Europe News

Energy ministers confront Europe’s dependence on China’s power storage

Energy ministers recognised the strategic importance of energy storage for the bloc's energy transition. Currently, the EU is producing significant amounts of clean power that are wasted due to a lack of storage infrastructure.