Energy

Renewables growth did not dent fossil fuel dominance in 2022, report says

Global energy demand rose 1% last year and record renewables growth did nothing to shift the dominance of fossil fuels, which still accounted for 82% of supply, the industry's Statistical…

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EU countries fail to agree energy reforms after coal subsidy clash

European Union countries failed on Monday to agree on planned new rules for the bloc's power market, having clashed over a proposal to extend subsidies for coal plants as part…

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Oil price falls as global backdrop outweighs Saudi output cut

Oil prices edged lower early on Tuesday, coming off gains made the previous day as concerns about the global economic backdrop outweighed supply worries raised when Saudi Arabia announced its…

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Campaigners sue EU for labelling gas and nuclear investments as green

Greenpeace and other campaign groups are set to take the European Commission to court on Tuesday, seeking to overturn European Union rules that class nuclear energy and natural gas as climate-friendly investments.The…

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EU launches LNG benchmark in attempt to tame price spikes

European Union energy regulators have launched a liquefied natural gas (LNG) benchmark price in an effort to avoid the market mirroring spikes in volatile costs for pipeline gas. The EU…

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EU reaches deal on service stations for EVs, alternative fuels

The European Union on Tuesday reached a provisional deal on the deployment of more service stations for cars running on electricity and alternative fuels as the bloc seeks to reduce the carbon…

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Siemens to provide technology for Italian energy project

Siemens Energy and Italy's FATA have been awarded a contract worth nearly 1 billion euros to supply transmission technology for a 970-kilometre power link connecting Sardinia and Sicily to the Italian mainland,…

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Nuclear row threatens EU deal on renewable energy goals

European Union countries are split over whether to allow nuclear energy to contribute to meeting their renewable energy targets, a dispute threatening to delay one of the EU's main climate…

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EU to propose clampdown on companies using fake ‘green’ claims

The European Commission wants to require companies in Europe to back up climate-friendly claims about their products with evidence, under draft rules to stamp out misleading green labels for products from clothing…

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EU to announce next steps on joint gas buying on Wednesday

The European Commission will announce its next steps on Wednesday on launching a scheme for countries to jointly purchase gas in global markets, the bloc's energy policy chief said on…

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EU rewrites climate diplomacy deal to resolve nuclear sticking point

European Union countries intend to push for a global phasing out of fossil fuels among their climate diplomacy priorities this year, which the bloc hopes to approve this week after…

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Spain, Netherlands back quick deal on EU power market reform

Spain and the Netherlands have backed a rapid deal on an upcoming revamp of Europe's electricity market, as countries seek to reduce power costs and help their industries compete in…

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EU opens door to ‘green’ nuclear-derived hydrogen

The European Commission published rules on Monday that could allow some hydrogen produced in nuclear-based energy systems to count towards EU renewable energy goals, signalling a win for pro-nuclear France.…

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Europe’s spend on energy crisis nears 800 billion euros

European countries' bill to shield households and companies from soaring energy costs has climbed to nearly 800 billion euros, researchers said on Monday, urging countries to be more targeted in their spending to tackle the energy crisis. European…

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Brussels says EU exit from Energy Charter Treaty ‘unavoidable’

The European Commission has told member countries that a joint EU exit from a controversial international energy treaty appears inevitable, according to a document seen by Reuters, with some of…

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Switzerland’s solar dam: Sun and snow the perfect mix for green energy drive

A snaking wall of solar panels has been attached to Switzerland's longest dam as the landlocked nation looks to maximise its green energy production in the winter months. The Lake…

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EU planning fast-track permits for clean tech

Producers of clean technologies like renewable hydrogen and batteries could receive faster permits under European Union plans to support industries facing U.S. and Chinese competition, a draft document showed on Monday.…

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Eni, Chevron announce new Mediterranean gas discovery

Italian energy group Eni and U.S. energy major Chevron revealed that they had made a new gas discovery in an Egyptian offshore field in the Eastern Mediterranean sea. The Nargis-1…

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EU targets first joint purchases of gas by summer

The European Commission aims for EU countries to start jointly buying gas "well before summer", European Commission Vice-President Maros Sefcovic said on Monday, an attempt to help countries refill storage…

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Environment risks dominate in “polycrisis” world – WEF survey

Failure to tackle climate change and environmental degradation dominate the ranking of top risks facing the planet in the next decade, a World Economic Forum (WEF) survey of global risk…

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Sweden makes regulatory push to allow new nuclear reactors

Sweden is preparing legislation to allow the construction of more nuclear power stations to boost electricity production in the Nordic country and bolster energy security, Prime Minister Ulf Kristersson said…

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EU should agree remaining climate laws by summer, Sweden says

The European Union aims to finish negotiations by July on laws to deliver its 2030 climate change target, although a contentious overhaul of fossil fuel taxes will likely take longer,…

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SolarEdge sees U.S. solar growth slowing in 2023, European markets surging

Growth in the U.S. solar industry is expected to slow down in 2023, while some European and Asian markets are poised to surge, SolarEdge Chief Financial Officer Ronen Faier said…

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China boosts coal production, eases Australia ban to boost energy security

The increasing need to secure energy supplies after easing COVID-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output.…

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Italy’s Eni sets up sustainable transport services company

Italian energy group Eni said it had set up a new company dedicated to sustainable transport, which would develop bio-refining, biomethane and offer mobility products and services in Italy and abroad. The move…

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EU countries agree gas price cap to contain energy crisis

European Union energy ministers on Monday agreed a gas price cap, after weeks of talks on the emergency measure that has split opinion across the bloc as it seeks to…

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Global renewables capacity set to double over next five years, says IEA

Global renewable power capacity is set to double over the next five years, driven by energy security concerns in the wake of Russia's invasion of Ukraine, the International Energy Agency…

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Europe on course to end winter with plenty of gas

Europe's gas inventories are on course to end the winter of 2022/23 at one of the highest levels on record - if prices stay high and provided pipeline deliveries from Russia continue.…

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EU fails to agree on Russian oil price cap, say diplomats

European Union governments failed to agree on Monday on a price cap on Russian seaborne crude oil, as Poland insisted that the cap had to be set lower than proposed…

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EU gas cap seen in place for one year, countries at odds over price level

The European Commission proposed introducing a gas price cap for one year from Jan.1, 2023, according to draft legislation seen by Reuters that has so far left the actual ceiling level…

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Rich nations stick to coal phase-out as China builds new plants

LONDON/SHARM EL-SHEIKH, Egypt (Reuters) - Rich nations have stuck to pledges to phase out coal power despite the energy crunch in the wake of the Ukraine war but China's expanding…

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Energy crisis: MEPs back plans to boost the deployment of renewables

MEPs in the Industry, Energy and Research Committee shortened the maximum period to approve new installations from twelve to nine months, if located in the so-called "renewables acceleration areas". These…

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Euro zone grapples with coordinating energy support plans as recession looms

Measures to support the euro-zone economies against soaring energy prices could complicate 2023 budget plans if they need to be extended into the spring, the region's finance ministers said on Monday,…

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COP 27: UK’s Rishi Sunak says climate and energy security go hand in hand

British Prime Minister Rishi Sunak said on Monday climate and energy security went "hand in hand" and world leaders must act quickly to address the impacts of climate change. "Climate security goes hand in…

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World is in its ‘first truly global energy crisis’ – IEA

Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of "the first truly global energy crisis", the head…

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Dozens of LNG-laden ships queue off Europe’s coasts unable to unload

Dozens of ships carrying liquefied natural gas (LNG) circling off the coasts of Spain unable to secure slots to unload have prompted grid operators for the country to warn they…

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EU to propose extra energy measures, swerve immediate gas price cap

The European Commission is set to propose another set of emergency measures on Tuesday to tackle high energy prices, but draft proposals suggest they will not include an immediate cap on gas…

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Russian gas supply gap casts chill in Europe as winter nears

Europe needs to pay up to import liquefied natural gas, pray for a mild winter and cut energy demand as any sabotage of infrastructure or even deeper cuts to Russian…

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Austria seeks allies for legal challenge to EU green investment rules

Austria said it was seeking to enlist other European Union countries to support its legal action against Brussels for labelling investment in gas and nuclear power as "green". Vienna on Friday…

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Tax people in this room’ to help the poor, Shell CEO tells energy conference

European governments should tax the wealthy to help weaker parts of society weather soaring energy costs but not intervene to cap gas prices, Chief Executive Officer Ben van Beurden said on Tuesday.…

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Top EU officials call for joint borrowing to deal with energy crisis

Two top European Commission officials called on Tuesday for joint borrowing by the 27-nation European Union to finance a response to the energy price crisis that is threatening to plunge the bloc…

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Britain at ‘significant risk’ of gas shortages this winter, says regulator

Britain faces a "significant risk" of gas shortages this winter and a possible emergency due to the conflict in Ukraine and limited supplies in Europe, the energy regulator has said. Although Russia only…

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Greece to present proposal on EU gas price cap this week – energy minister

Greece will submit a technical proposal for a cap on natural gas prices to the European Commision later this week following consultations with other European countries, its energy minister said…

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Gas crisis lands LNG cargo market in hands of energy giants

Sky-rocketing LNG cargo prices have squeezed out dozens of smaller traders, concentrating the business in the hands of a handful of international energy majors and top global trading houses. This…

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Shell sees 2024 global demand for aviation fuel return to level before pandemic

Global aviation fuel demand is expected to fully recover to pre-pandemic levels of 300 mln tonnes per year in the next one to two years, the head of aviation at…

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German utilities close to long-term LNG deals with Qatar

German energy companies RWE and Uniper are close to striking long-term deals to buy liquefied natural gas (LNG) from Qatar's North Field Expansion project to help replace Russian gas, three…

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Von der Leyen proposes crisis measures to curb energy price spike

The European Union will propose measures to cap revenues from low-cost electricity generators and force fossil fuel firms to share the profits they make from soaring energy prices, European Commission…

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Germany, EU race to shore up struggling energy firms

Germany said on Tuesday it aimed to expand lending to energy firms at risk of being crushed by spiralling gas prices, the latest effort in Europe to rescue households and…

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EU countries can use 225 bln euros of EU loans for energy crisis

European Union countries can use 225 billion euros in untapped loans from the EU's recovery fund to address energy problems and other challenges resulting from the Russian war in Ukraine, a senior EU official said on Monday. The European Union…

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EU eyes levy on fossil fuel firms to help consumers survive energy crisis

Fossil fuel firms may have to share their excess profits to help European households and industries cope with red-hot energy bills, a draft European Union plan showed on Monday as…

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EU to claw back energy firms’ profits rather than cap Russian gas price

EU energy ministers on Friday tasked the European Commission to press ahead with a cap on the revenues of non-gas power producers benefiting from soaring energy prices, while backing away from capping Russian…

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UK weighs huge support package as Europe battles energy crisis

Britain's new prime minister was working on what looks set to be Europe's biggest energy crisis support package so far as countries scramble to protect households and businesses from soaring…

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Italy to cut gas consumption to weather energy crisis

Italy plans to turn down the heating in homes and businesses to help cut gas consumption by around 5.3 billion cubic metres to reduce the risks associated with a total interruption of gas flows from Russia, the…

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Czech EU presidency says two proposals exist for setting maximum energy prices

PRAGUE (Reuters) - There are two proposals in the European Union on how to set maximum prices on energy that the bloc's energy ministers will discuss on Friday, Czech Industry…

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Germany keeps two nuclear reactors on standby to weather gas crisis

Germany plans to keep two of its three remaining nuclear power stations on standby, beyond a year-end deadline to ditch the fuel, to ensure enough electricity supply through the winter…

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Gazprom says Nord Stream 1 resumption depends on Siemens Energy

Russian natural gas pipeline Nord Stream 1 will not resume shipments until Siemens Energy ENR1n.DE repairs faulty equipment, Gazprom’s Deputy Chief Executive Officer Vitaly Markelov told Reuters on Tuesday. “You should ask Siemens. They have to repair equipment first,”…

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G7 company emissions falling short of global climate goal, study shows

Companies in the Group of Seven (G7) economies are failing to meet Paris Climate Agreement objectives, non-profit disclosure platform CDP and global management consultancy Oliver Wyman said on Tuesday, based…

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