Oil and Industry
Snow crab case to decide who has the right to explore for Arctic oil
Norway’s Supreme Court will on Tuesday (15 January) hear arguments on whether EU ships can fish for snow crab off Arctic islands north of Norway without permission from Oslo, a case that could decide who has the right to explore for oil in the region.
UK revealed as EU champion of fossil fuel subsidies
The United Kingdom spends the most in the EU on subsidising fossil fuels, according to a new report by the European Commission, which also found that EU-wide payments have failed to decrease despite the bloc’s commitment to the Paris Agreement on climate change.
Factcheck: Did EU gas liberalisation rules put Bulgaria’s national security at risk?
Bulgarian minister Temenuzhka Petkova has said her country preferred paying a multi-million euro fine rather than follow a Commission injunction. Such a reform, in her words, would have threatened the country's national security. EURACTIV checked the facts.
Embracing the power of cheap renewables to deliver a carbon exit
Green steel, green ammonium, green plastics, green aluminium and green shipping can be within reach in a world with renewables at 3$ct/kilowatt hour and a carbon price of $50+/ton CO2, with limited costs to the global economy, argue Auke Lont...
IEA chief: Ethanol ‘very important’ to reduce oil dependence
Ethanol will have a very important role in decarbonising the transport sector globally, the executive director of the International Energy Agency (IEA) told EURACTIV.com. Another energy expert said electrification will play a major role in transport but is not applicable to all sectors, which is where biofuels come in.
How will oil producing countries meet the challenge of climate change?
As the United Nations COP24 gets underway in Poland, leading oil and gas players – countries and companies – are confronted with the challenge of mapping out their share of the new energy economy, writes Robin Mills.
Spain targets 100% renewable power by 2050
Spain’s government has published a new climate plan that targets a 100% renewable energy electricity system by 2050, with goals that outstrip those adopted by the EU and a ban on new gas and oil exploration.
European oil majors better prepared for energy transition than US, Chinese counterparts
Oil majors are “lagging” when it comes to preparing for the low-carbon energy transition, according to a new report from financial watchdog CDP, which nonetheless praised BP, Eni, Equinor, Total, Repsol and Shell for taking the industry’s lead.
‘Most important years in history’: Major UN report sounds last-minute climate alarm
Warming beyond 1.5C will unleash a frightening set of consequences and only a global transformation, beginning now, will avoid it, according to the latest report from scientists at the Intergovernmental Panel on Climate Change (IPCC). EURACTIV's media partner Climate Home News reports.
US ‘disturbed and deeply disappointed’ by EU over Iran sanctions
Tensions between the United States and the European Union over Iran soared into the open Tuesday (25 September) after the Europeans announced plans for a legal framework to preserve business with Tehran and evade new US sanctions.
China defies US pressure as EU parts ways with Iranian oil
China, seeking to skirt US sanctions, will use oil tankers from Iran for its purchases of that country's crude, throwing Tehran a lifeline while European companies such as France's Total are walking away due to fear of reprisals from Washington.
UK-backed report identifies ‘viable business models’ for carbon capture technology
Carbon capture utilisation and storage (CCUS) offers “one of the greatest industrial opportunities” for Britain as the world pivots to a low-carbon economy, said Claire Perry, the UK's Energy and Clean Growth Minister.
Ireland commits to divesting public funds from fossil fuel companies
Ireland committed to divesting public funds from fossil fuel companies on Thursday after parliament passed a bill forcing the €8.9 billion Ireland Strategic Investment Fund (ISIF) to withdraw money invested in oil, gas and coal.
Equinor: Oil majors have ‘muscle’ to join renewables race
International oil companies have “the financial muscle, the experience, the technical skills, and the supply chain” necessary to take part in the global renewable energy revolution, argues Eirik Waerness of Equinor.
Romania adopts offshore energy law, angers majors
Romania’s Chamber of Deputies voted in favour of a new offshore law on Monday evening (10 July) that will impose taxes on oil and gas companies operating in the Black Sea. The ruling party's controversial leader insisted it will help cut reliance on Russian energy imports but oil companies said it might deter new investments.
EU lawmakers back plan for European Investment Bank work in Iran
EU lawmakers gave approval on Wednesday (4 July) for the European Investment Bank (EIB) to do business in Iran, overcoming a blocking attempt and keeping alive plans to save the 2015 nuclear deal with Tehran that Washington has abandoned.
G7 countries pour $100bn a year into oil, gas and coal: study
Each year, at least US$100 billion goes to support the production and consumption of oil, gas and coal, according to a major new study published on Monday (4 June). That is despite a promise from all G7 and G20 members to stop subsidising fossil fuels by 2025.
Neftohim refinery boss: Europe’s refining sector will consolidate, improve
The number of oil refineries in Europe is likely to decrease but those that remain will be truly competitive, highly technological and highly efficient, Ilshat Sharafutdinov told EURACTIV in an interview.
EU warms up to plastic waste ‘recycling’ as transport fuel
A proposal to use non-recyclable plastic waste in the production of transport fuels is picking momentum among EU member states and legislators in the European Parliament, despite warnings from environmentalists.
BP confesses ‘mistake’ in forecasting renewable energy growth
The pace at which India – and China in particular – have developed solar power came as a surprise to BP analysts, the company’s chief economist told EURACTIV in an interview.
Greece launches tender for Hellenic Petroleum privatisation
Greece launched an international tender on Wednesday (18 April) to sell a majority stake in its biggest oil refiner, Hellenic Petroleum, as agreed under its third international bailout.
Russia says wider cooperation arrangement with OPEC could be indefinite
Russian Energy Minister Alexander Novak said that an arrangement under which Moscow cooperates with the OPEC oil group could become indefinite once a current deal to curb oil production expires in the end of the year.
IEA scenarios ‘inconsistent’ with Paris climate goals, study warns
The International Energy Agency has wrongly guided governments into decisions about oil, gas and coal use that are inconsistent with the long-term climate objectives of the Paris Agreement, according to a new report out on Thursday (5 April).