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Business

Eni divides oil and gas and green energy projects in new finance plan

The aim of the move is to attract more investment by allowing both fossil fuel and renewable energy investors to invest solely in their preferred projects, without any crossover of funds.

Business

TotalEnergies sees first quarter earnings drop on lower gas prices

Declining natural gas revenues dampened the company’s performance in the first quarter of 2024, with earnings down 22%, however its resilient oil business helped cap losses.

Business

UAE state oil company has BP in sights as potential takeover target

Adnoc’s takeover bid for BP is the latest in a string of acquisition bids for energy companies, such as ExxonMobil's agreement to purchase Hess Corporation.

Markets

Oil prices rise: What's pushing up the cost of crude?

Geopolitical uncertainties and supply fears boosted oil prices to fresh five-month highs on Tuesday morning.

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Markets

Chinese energy giant CNOOC finds hundred million-ton oilfield

CNOOC's Kaiping South discovery could lead to more investment in deep-water South China Sea exploration in the coming months.

Markets

Lower oil and gas prices hit Eni's earnings in the fourth quarter

Shares in Italy's Eni SpA fell on Friday after the company published its latest financial results.

Markets

Oil prices stabilise as Libyan supply concerns allayed by slow demand

Oil prices stabilised somewhat on Thursday, as concerns over Libyan supplies were allayed by worries about slowing economic growth and demand

Business

Russia claims majority of oil exports redirected to Asia

The announcement comes amid unprecedented Western sanctions on Russia over the invasion of Ukraine.

Markets

Why is the IEA's latest oil market report important for Europe?

Euronews Business breaks down the IEA's latest oil market report, released this month, to see why it matters for Europe.

Markets

OPEC+ meeting: Russia and Saudi Arabia extend oil output cuts

The November OPEC+ meeting resulted in several more members making deep oil supply cuts whilst others stuck to existing reductions. Euronews Business take a look at how the news moved oil markets.

Markets

How could Iranian drones potentially threaten European oil?

Iran has recently equipped its Revolutionary Guard’s navy with drones to increase surveillance in the Strait of Hormuz as the country continues to export drones to Russia.

Europe News

Windfall taxes on European energy firms 'weakened' by lobbying: NGOs

Fossil fuel businesses across Europe have managed to weaken and delay windfall taxes imposed on them during the recent energy crisis, according to a new report by a coalition of environmental associations.

Markets

Oil prices surge following Hamas attack on Israel

The sudden aggravation of the conflict in the Middle East is fuelling oil supply disruptions fears.

Earth News

Willow Project: Could two lawsuits block the oil project in Alaska?

The Biden administration has approved Alaska’s Willow oil project, a major drilling initiative that environmentalists say is counter to the country’s climate goals.

World News

Russia bans oil sales to countries using a price cap

The ban will come into effect from February 1.

Europe News

EU talks to cap Russian oil prices hit impasse as key deadline nears

The latest proposal to cap Russian crude at $62 per barrel was deemed too high by Poland and the Baltic states.

Europe Decoded

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.

Russia

Russia 'could retaliate' if EU imposes energy supply embargo

An oil and gas industry expert says Russia 'could retaliate' if EU imposes an energy supply embargo, but cutting off gas supplies to European countries.

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Sanna Marin: we are actually financing Russia's war by purchasing oil

Finnish Prime Minister Sanna Marin said it is important to "get rid of Russian fossil fuels," adding "we are supporting and actually financing Russia's war by purchasing oil, gas and other fossil fuels."

World News

Oil terminals disrupted after European ports hit by cyberattack

The hackers disrupted operating systems and prevented some oil tankers from delivering energy supplies.