About: oil

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.

EU clears tighter controls on power plant air pollution

The European Union on 28 April approved new air pollution limits, which could save over 20,000 lives annually through the reduction of pollution from power plants, specifically those which are coal-fired.

European companies compete for water solutions

European companies are competing in the petri-dish of innovative projects looking to provide water solutions in the arid lands of the eastern Arabian Peninsula, writes Stuart Reigeluth.

Kazakhstan changing to secure continuity

Kazakhstan and the wider region of Central Asia are on the cusp of significant change, albeit largely unrecognised by the rest of the world, writes Kamran Bokari.

Iran certifies 29 international companies to bid for oil, gas projects

Iran has named 29 companies from more than a dozen countries as being allowed to bid for oil and gas projects using the new, less restrictive Iran Petroleum Contract (IPC) model, the oil ministry news website SHANA reported yesterday (2 January).

‘Zero kilometre’ food products start to take Spain by storm

Concepts like "100% local" and "zero kilometer" products are now on an upward trend in Spain and are forcing the food industry to rethink how it does business. EURACTIV’s partner EFEAgro reports.

FuelsEurope boss: Burning global-warming petrol is society’s choice

The burning of petroleum in transport, despite its contribution to climate change, is a choice made by customers in a society that runs on liquid fuel, John Cooper has said. The director-general of FuelsEurope stated that there had never been a referendum, asking whether people were prepared to pay more for a low carbon future.

Brexit threatens global oil demand, warns IEA

Europe has been the “saving grace” of global oil demand, which is expected to be higher than forecast in 2016, but that is under threat from uncertainty caused by Brexit, the International Energy Agency has warned today (13 July).

Renewable energy: A simple strategy to regain global leadership

The EU is no longer leading the global energy transition. To reclaim this position, it must stop prioritising fossil fuels and nuclear, increase energy efficiency and keep fossil fuels in the ground, argues Christine Lins.

Croatia’s right-wing government falls

Croatia's government fell Thursday (17 June) after Prime Minister Tihomir Oreskovic lost a confidence vote in parliament, in a serious blow to the country's nationalist rulers after only five months in power.