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Markets

Oil prices surge, Europe’s markets open lower on Israel Iran strikes

Israel launched strikes targeting Iranian nuclear facilities, which killed top officials according to Iranian state media — including Revolutionary Guard chief Hossein Salami.

Europe News

Can the EU lower the cap on Russian oil without the US?

The US has so far refrained from endorsing a lower price cap on Russian oil, prompting the question of whether the EU can dare to go it alone.

East-West Connect

Kazakhstan’s rising oil output boosts its role as global producer

In partnership with MDQ

Kazakhstan is ramping up oil output, led by increased production at its giant Tengiz oilfield. Now supplying nearly 2% of the world’s crude, the country is becoming a key player in the global energy market.

Europe News

Europe's long battle against Russia's 'shadow fleet' is far from over

The EU has imposed several rounds of sanctions against Russia's infamous "shadow fleet". But is there more to be done?

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Europe News

Von der Leyen rules out return to Russian fuels after the war

"Dependency on Russia is not only bad for our security, but also for our economy," Ursula von der Leyen told the European Parliament.

Europe News

MEPs urge Greek PM to crack down on Russia's shadow fleet

Selling old ships to Russia is a "completely irresponsible business practice", a group of MEPs has told the Greek prime minister.

Markets

Oil prices jump in response to Trump’s Venezuela tariff threats

Crude oil prices jumped following US President Donald Trump’s announcement that he would impose 25% tariffs on Venezuela’s oil buyers. The West Texas Intermediate (WTI) futures at NYNEX rose 11% and the Brent futures at ICE were up 6.7% since their lows on 5 March.

Europe News

Is Trump elbowing the EU aside as he grabs Ukraine’s mineral wealth?

Kyiv signed a raw materials deal with the EU just months before Russia invaded three years ago – but now the US is making access to the same mineral resources a condition for continued support to the battle-weary nation.

Business

BP scraps renewables target, returns to oil and gas in strategy reset

The move comes in response to pressure from investors, notably from activist hedge fund Elliot management.

Business

BP expected to scrap renewables targets as part of performance reset

Renewable output is set to become less of a priority, while the pledge to reduce oil and gas output may be officially abandoned.

Earth News

Brazil’s Lula backs new oil exploration ahead of UN climate summit

The President said Brazil can’t ignore the wealth beneath its feet and choose not to explore it.

Europe News

Nordics and Baltics ask EU to tighten price cap on Russian oil

Denmark, Estonia, Finland, Latvia, Lithuania and Sweden have demanded a revision of the price cap on Russian seaborne oil. The cap was set in late 2022 at $60 per barrel and has remained untouched since then.

Europe News

US imposes sanctions on Serbia's Russian-owned petrol industry

Serbia's Vučić plans talks with Putin after US sanctions on NIS, demanding Gazprom's exit. The sanctions could impact Serbia's economy and its deal with Moscow.

Earth News

US offshore drilling ban: Can this 'epic ocean victory' survive Trump?

Days before leaving office, Biden has made a move that environmental groups are “thrilled and thankful’’ for.

Earth News

Russia deals with aftermath of massive fuel oil spill

Thousands are attempting to help lessen the damage, but some volunteers say the government is not doing enough to help.

Europe News

Vučić: US to sanction Serbia's oil company due to Russian ownership

Gazprom and its subsidiary Gazprom Neft own 6.15% and 50% of NIS respectively, with the remainder of the shares belonging to the government and other smaller shareholders.

Europe News

Oil flow to Czech Republic from Russia through Druzhba interrupted

The development comes the day before an EU exemption, which has allowed the Czech Republic to continue receiving Russian oil, is due to expire.

World News

European Parliament calls for action against Russia's 'phantom fleet'

MEPs urge action against Russia’s 'phantom fleet,' calling for stricter checks, penalties, and a total ban on Russian fossil fuel imports to curb sanction evasion and safety risks.

Earth News

How this concerned father shifted his company away from oil and gas

Jordi Zonneveld didn't want his three daughters to live in a world reliant on burning oil, gas and coal, warming the planet.

Europe News

EU still hesitant to sanction Russian gas as imports continue

The annual State of the EU Energy Union report shows Europe still relies on Russia for nearly a fifth of its gas imports, while the EU executive is concerned at the slow pace of the transition away from fossil fuels.