energy-market
InvestingEuropean Shares Slip on Fears of Energy Supply Shortage
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Hungary Fuel Price Cap Will Lead to Shortages, Says Mol Boss
Date: July 11, 2022
BUDAPEST (Reuters) -Hungary’s cap on fuel prices should be lifted because it will lead to shortages “sooner or later”, the CEO of Hungarian oil and gas company MOL said. Zsolt Hernadi, in an interview on ATV late on Sunday, said Hungary was facing an “extremely dangerous” situation as the fuel price cap was driving up...
Germany’s Gas Crisis in Charts: Pipeline Repair, and Then What?
Date: July 11, 2022
By Vera Eckert and Tom Sims FRANKFURT (Reuters) – The flow of gas from Russia to Germany through the Nord Stream 1 pipeline stopped on Monday as a planned 10-day maintenance period began. The question is: Will flows then resume? Germany, Europe’s largest economy, is largely dependent on Russian gas to fuel its export-led economy...
Germany’s Uniper Seeks Bailout as Moscow Gas Standoff Chokes Finances
Date: July 8, 2022
By Tom Käckenhoff and Vera Eckert BERLIN/DUESSELDORF/HELSINKI/FRANKFURT (Reuters) – Utility group Uniper asked the German government for a bailout on Friday and warned losses could reach 10 billion euros ($10.15 billion) this year, as Moscow’s economic war with Europe claims its biggest corporate casualty yet. Uniper, which has been struggling to cover delivery obligations as...
UK Regulator Proposes Reforms to Cut Reliance on Gas Imports
Date: July 8, 2022
LONDON (Reuters) -British energy regulator Ofgem is proposing reforms to wholesale electricity markets to reduce Britain’s reliance on gas imports and accelerate the transition to low-carbon energy supply, it said on Friday. Last year, the government set out plans to increase offshore wind capacity to 50 gigawatts (GW) by 2030 and increase solar power. However,...
Germany’s Gas Crisis in Charts: Pipeline Repair, and Then What?
Date: July 8, 2022
By Vera Eckert and Tom Sims FRANKFURT (Reuters) – The flow of gas from Russia to Germany through the Nord Stream 1 pipeline will stop on Monday for a planned 10-day maintenance period. The question is: Will flows then resume? Germany is largely dependent on Russian gas to fuel its export-led economy and to keep...
Putin: Sanctions Risk Causing Energy Price Catastrophe for West
Date: July 8, 2022
MOSCOW (Reuters) – President Vladimir Putin said on Friday that continued sanctions against Russia could lead to catastrophic energy price rises for European households. Europe has historically relied on Russia for around 40% of its natural gas, most of it delivered through pipelines. “We know that the Europeans are trying to replace Russian energy resources,”...