EU emissions drop not as steep without UK
Brexit could make it harder for the European Union to meet its climate targets, carbon pollution figures show.
EU
Jeremy Corbyn: Only EU membership will keep cash flowing into the North Sea
Labour leader Jeremy Corbyn warned that only continued EU membership would keep investment flowing into the struggling North Sea oil and gas sector on a visit to Aberdeen on Saturday.
EU carbon permits drop amid doubt Europe will adopt price floor
European Union carbon allowances declined at the fastest pace since June 1 amid skepticism that the region will adopt a proposal by France to include a minimum price in almost-daily auctions of the contracts.
EU antitrust regulators carry out raids on trio of oil companies
EU antitrust regulators have raided the offices of a number of oil companies over suspected blocking of gas exports to other EU countries.
Gazprom boss sees no need for European gas price war
Gazprom has said it sees no need to wage gas price wars in Europe to squeeze out rivals including LNG from the US.
Total chief executive Patrick Pouyanne says UK should stay in the EU
The chief executive of Total said he hoped the UK would vote to stay in the European Union.
Michael Gove predicts majority of Scots will vote to leave EU
A majority of people in Scotland will vote to leave the European Union, leading Brexit campaigner Michael Gove has predicted.
Study shows huge potential of exploitable pumped hydro energy
A new study has revealed a massive 2,291GWh of development-ready sites with existing reservoirs for new pumped hydro energy storage plants in Europe
Brexit could push up bills and threaten UK’s energy security, warns Rudd
Leaving the European Union could push up bills and threaten the UK’s energy security, Energy and Climate Change Secretary Amber Rudd has warned.
Brexit could bring ‘electric shock’ hike to energy bills, Energy Secretary claims
Energy costs could “rocket” by half a billion pounds a year if the UK quits the European Union, Energy and Climate Change Secretary Amber Rudd will warn on Thursday. Pointing to a report by National Grid on the consequences of leaving the EU, she will say that the “massive electric shock” of Brexit could push up British bills by the equivalent of around £1.5 million a day.
Halliburton Baker deal deadline suspended as EU seeks more info
The European Union has suspended the deadline for its review of Halliburton’s acquisition of Baker Hughes as regulators said the companies failed to supply “important information.”
Halliburton given more time for Baker Hughes deal
Halliburton Co. was given more time by the European Union to come up with a package of asset sales that will assuage competition concerns over its takeover of oilfield services rival Baker Hughes IncThe company said Wednesday that it would offer the remedies soon, after the EU pushed back the deadline for reviewing the deal by 20 working days to June 23.
Estonia’s largest private oil producer to cut 500 jobs
VKG said it plans to reduce its headcount by 500 members of staff. The Estonian shale company said the move was as a result of the low oil price.
Halliburton faces longer EU probe for Baker Hughes takeover
Halliburton Co. passed on a chance to offer early concessions to European Union regulators, meaning it will likely face a protracted antitrust review of its plan to buy oil services rival Baker Hughes Inc.for $26 billion.
Fossil fuel glut, renewables make EU power cheapest in a decade
Record-low coal prices and increased wind and solar generation that pushed European power prices to their lowest in a decade may cause further declines in 2016. Average day-ahead electricity prices in Germany, Europe’s biggest market, fell 3.2 percent to 31.70 euros ($34.65) per megawatt-hour in 2015, the least since 2004 on the Epex Spot SE exchange in Paris before the last auction later Wednesday. Northwest Europe coal fell 33 percent while the share of Germany’s energy demand met by renewable output increased by four percentage points to 30 percent, according to preliminary figures by utility lobby BDEW.
EU countries see threat from Russia’s gas link extension into western Europe
Russia's plans to extend its gas link to Germany run counter to EU interests and risk further destabilising Ukraine, 10 European governments said in a letter to the European Commission that called for a summit-level debate on the issue.
Dyson loses bid to change EU energy labelling laws
Dyson has lost its bid to change EU energy labelling laws after claiming some rival vacuum cleaners were achieving misleadingly good ratings. Sir James Dyson, founder of the British technology firm, argued that vacuum cleaners were only tested when they were empty of dust which can “mislead consumers on the real environmental impact of the machine they are buying”. But in a ruling, the EU’s General Court said it “dismisses Dyson’s action in its entirety” because the company - best known for its bagless vacuum cleaner - had failed to show there were more reliable and accurate tests.
Gazprom planning for the lowest fuel price in EU market for a decade
Gazprom PJSC, the world’s biggest natural gas exporter, is planning for the lowest price for its fuel in its main European market for more than a decade. The state-run exporter is drafting its budget for 2016 with preliminary estimates for gas prices outside the former Soviet Union of about $200 per 1,000 cubic meters ($5.45 a million British thermal units), said two people with direct knowledge of the matter who asked not to be identified because the information is private.
Europe’s big oil is a buy as cuts point to recovery at last
Energy companies are finally starting to come back into favor. After enduring the longest oil-price collapse in more than a decade, crashing profits and an investor exodus, Europe’s biggest producers are regaining fans as analysts bet earnings bottomed last quarter and will now start to recover. While Total SA, the region’s second-biggest oil company, will probably post the worst quarterly performance since 2009, it also has the highest proportion of buy ratings in a year, according to analysts surveyed by Bloomberg. Despite similarly bleak forecasts, Royal Dutch Shell Plc, Europe’s No. 1, has the biggest share of buy recommendations since mid-2012 while BP Plc has the most since February.
EU emissions down 23%, passing targets for 2020
The European Union says its emissions fell 4% last year, meaning the 28-nation bloc has already surpassed its target for 2020. A report by the EU’s environment agency said 2014 emissions were 23% lower than in 1990. The EU is the world’s third largest greenhouse gas polluter.
Atlantis Resources wins approval of €17million for MeyGen
Atlantis Resources said €17million of funding has been transferred from the Kyle Rhea project to the world’s largest planned tidal stream energy project MeyGen. The transaction was approved by the European Commission’s Climate Change Committee for MeyGen Phase 1B. The move is planned to help accelerate the development of the project with this second phase targeted to reach financial close and commence construction during 2016.
Lords committee to investigate potential tensions in EU energy cooperation
The UK's House of Lords EU Committee on Energy and Environment has launched a new inquiry into EU energy governance.
Opinion: EU Offshore Directive will underpin unwavering focus on safety
Last month saw a significant moment for this offshore oil & gas industry. What might be considered the single biggest change to affect domestic offshore health, safety and environmental management in many years came into force – the EU Offshore Safety Directive. Following the Deepwater Horizon incident in the Gulf of Mexico in April 2010, the European Commission (EC) refocused attention on the potential for major accidents and, in particular, major environmental accidents, deciding that consistent standards were required for offshore operations across the European Union (EU) – particularly as many other European countries, such as Romania and Cyprus, were at the early stages of offshore development. The initial proposal for an EU Regulation was met by strong opposition from Oil & Gas UK among others – against the threat that Regulation would have swept away our entire legal framework, which is recognised as world-class, used as an example of best practice by countries as far away as Australia.
Two Iranian oil companies removed from EU sanctions list
The European Union has removed two Iranian oil companies from its sanctions list, the first such action since Iran reached a nuclear agreement with world powers earlier this month, a notice from the British finance ministry said on Friday. Petropars Operation and Management and Petropars Resources Engineering had been pressing for their removal from a list of sanctioned companies for months on the grounds that there was insufficient evidence to include them. The companies, which are the part of a group involved in extracting natural gas from Iran's South Pars field, appealed to the EU court in May to allow their removal from the list.
Iran and EU to hold ‘high level’ talks in wake of nuclear deal
“High-level” talks will soon be launched with the European Union (EU) following a nuclear agreement reached with world powers earlier this month, according to Iran’s foreign minister.