About: oil

Russia’s Rosneft-led Arctic oil project requires $157 billion of investment

A ambitious new Arctic oil project led by Russia’s top oil producer Rosneft will require about 10 trillion roubles ($157 billion) of investment, Russia’s deputy energy minister Pavel Sorokin told reporters.

Saudi attack will jolt oil markets out of ‘complacency’ over Gulf tensions – analysts

The price of oil has seemed relatively immune to heightened tensions in the Gulf, but this weekend’s attack on Saudi oil facilities means markets will now be more skittish.

The attack on Saudi Arabia’s Abqaiq refinery and the realpolitik of oil

After a Saudi oil processing facility came under attack, attention turned on the immediate effect this could have on oil prices. But the worry should be more over the medium term than the short term, writes Robin Mills.

Ahead of heating season, EU gas tanks are full

With gas prices at a ten-year low, storage tanks are far fuller than average for this time of year. This may have political implications as lawmakers think about security of supply.

No-deal Brexit set to cause disruption for UK oil refineries

Though UK fuel export tariffs are set to rise to 4.7%, import tariffs will be set at 0%. Oil refineries are warning this would put them at a competitive disadvantage.

How vulnerable is Europe to conflict in the Strait of Hormuz?

NEWS ANALYSIS / The involvement of a British tanker in the latest military incident with Iran in the crucial oil shipment choke point has pulled Europe into the fray.

Satellite data offers new hope for taming oil’s methane emissions

The release of methane emissions from drilling has been a beguiling problem for the oil and gas industry. But EU satellite data points toward a solution.

After years of decline, oil and gas extraction is set to increase

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Oil majors have steadily reduced exploration investment since the 2014 oil price collapse. Now exploration is ticking up again, even if the oil price isn’t. Meanwhile, investment in renewables remains small among oil and gas companies.

A changing climate puts Europe’s energy sector at risk

Oil and gas infrastructure as well as electric power stations could suffer major failures in the coming years if they are not adapted to withstand extreme weather caused by climate change, EU officials have warned.

Slumped economic growth will mean oil oversupply next year, IEA says

Slower oil demand growth in 2019 is expected to lead to a glut of oil next year, which could have significant impacts on energy prices in Europe.

Suspected attack on tankers shows volatility of oil markets

The price of crude oil, which has been languishing at five-month lows, jumped suddenly on Thursday (13 June) following unconfirmed reports of an attack on two oil tankers in the Gulf of Oman.

UK-South Korea deal seeks to calm Brexit anxiety in oil markets

A UK-South Korea trade deal announced Monday (10 June) guarantees future exemption from oil tariffs following a spate of dry months without crude imports coming from Britain's North Sea fields.

BP shareholders demand climate action, but reject calls for hard targets

An overwhelming vote in favour of climate action at BP's annual meeting yesterday (21 May) shows how activist investors have started to move the oil and gas industry. But it also showed the limits to their appetite for change.

Poland, Russia, Belarus and Ukraine to talk on polluted Russian oil

Representatives of Poland, Russia, Belarus and Ukraine will meet on Friday (26 April) in Minsk, the capital of Belarus, to discuss how to solve the problem of polluted Russian oil, Poland’s pipeline operator PERN said on Thursday night.

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.

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.

Double-counted renewables will increase dependency on fossil fuels

The EU Council's proposal for double or even multiple counting of advanced biofuels and green electricity consumption will increase Europe's dependency on fossil fuels to cover "real" energy needs, something which conflicts with the principal objective of the RED II legislation.

Europe’s future oil production seen viable at $60 a barrel

Europe is hardly the first place that springs to mind when thinking about the world's major oil producing regions, and there is a perception that the domestic industry has already seen its heyday, particularly in the North Sea.

Giant Libyan oilfield closed as gunmen press demands

An armed group forced Libya’s massive el-Sharara oilfield to close late on Sunday (1 October), shutting off production of more than 230,000 barrels per day (bpd), the head of the state oil company said.

German ex-Chancellor Schröder hits back in Russia row before vote

Former German Chancellor Gerhard Schröder hit back at criticism of his planned new job at Russian oil producer Rosneft on Thursday (17 August), accusing his foes of political manoeuvring to help get Angela Merkel re-elected.

Energy guru lifts the veil on first Putin-Trump meeting

EXCLUSIVE/ Energy guru Igor Yusufov shared  his views with EURACTIV.com on the first bilateral meeting between Russian President Vladimir Putin and his US President Donald Trump at the G20 summit, as well as on the global gas and oil business.

Turkey voices energy ambitions at World Petroleum Congress

Turkey, a country poor in energy resources, has voiced its ambitions to leverage its geographic position by becoming an even more important crossroads of supply routes and a giant energy hub, saying this would “improve” the EU’s energy security.

Saudi Arabia, Russia agree oil output cuts to push up prices

Saudi Arabia and Russia, the world's two top oil producers, agreed today (15 May) to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up prices.

EU opens door to Canada’s dirty oil

Oil extracted from tar sands is far more polluting than conventional hydrocarbons. But the EU’s decision to change the way it classifies the fuel is good news for Canadian exports and bad news for the environment. EURACTIV’s partner Ouest-France reports.