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Monday, October 3, 2022

Tag: energy crisis

EU signs gas agreement with Egypt and Israel to ditch Russia

Brussels (The Times Groupe)- Egypt and Israel have agreed to increase gas exports to Europe under a deal signed during the visit of the European Commission president Ursula von der Leyen to Cairo on Wednesday as the bloc seeks to wean itself off Russian gas.

Gazprom to further cut gas supplies to Germany via Nord Stream

Moscow (The Times Groupe)- The Russian energy giant Gazprom said on Wednesday it would further reduce gas supplies through the Nord Stream 1 pipeline to 67 million cubic meters (2,366 million cubic feet) per day.

EU leaders endorse $321B plan to replace Russian fossil fuels

Brussels (The Times Groupe)- European leaders endorsed on Tuesday the European Commission's $321 billion plan to replace Russian fossil fuels.

Germany is keen to pursue gas projects with Senegal

Dakar (The Times Groupe)- German Chancellor Olaf Scholz said on Sunday on his first trip to Africa that Germany will pursue gas and renewable energy projects with Senegal in the wake of the conflict in Ukraine.

Crude oil prices little changed as recession worry offsets higher demand outlook

Huston (The Times Groupe)- Oil prices were little changed on Monday amid worries over a possible recession and the prospect of higher fuel demand with the start of the U.S. driving season and Shanghai's plans to reopen after two months of quarantines due to the Coronavirus.

Saudi oil giant Aramco sees profits jump as prices surge

Riyadh (The Times Groupe)- The Saudi Arabian Oil Company Aramco has posted its highest profits since its listing in 2019 as oil and gas prices surge around the world.

Energy crisis leads UK to bulid 7 new nuclear reactors

London (Times Of Ocean)- The UK could build up to seven new nuclear power stations in response to Russia's invasion of Ukraine, a cabinet minister revealed.

Turkey raises gas prices for industry, households

Istanbul (Times Of Ocean)- Turkish state-owned energy importer BOTAS said it had raised natural gas prices for industrial facilities by 50% and those for households by 35% late on Thursday, raising the prospect of further stoking inflation, which is expected to top 60% in March.

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