Trending News: Iran and Gulf attacks spark LNG, helium and insurance concernsIran and Gulf attacks spark LNG, helium and insurance concernsOil markets on edge after Trump strike on Iran threatens Hormuz flowsMarket Analysts React to US-Israel Strikes on IranGulf Oil Producers Open the Taps as Iran Risk Premium BuildsTankers Halt Near Hormuz After AttacksU.S., Israel Launch Attacks on Iran – Israel Shuts Down Gas FieldsHow US-Iran Tensions Could Shape World MarketsWATCH: President Trump Make Statements on United States Military Combat Operations in IranJVVNL Allows Hybrid Inverters For Rooftop Solar Systems In RajasthanPace Digitek Achieves 100th BESS Container Milestone, Boosting India’s Grid-Scale Storage CapacityIraq Launches 1 GW Basra Solar ProjectIndia Advances Multi-Source Energy Transition with Renewables, Green Hydrogen, Nuclear Reforms and Digital InfrastructureESCAP Launches Just Energy Transition Initiative for Southeast AsiaL&T Secures Major Power Transmission Orders In India And Middle EastDigital Edge Signs 83 MW Solar PPA, Launches Recycled Water Cooling At Navi Mumbai Data CenterIRENA Launches Solar PV Supply Chain Cost Tool to Guide Global Manufacturing Strategies—ReportIREDA Calls for Enabling Policy Framework to Accelerate Green Infrastructure Financing through GIFT IFSCDEWA Explores Renewable Energy Cooperation with Germany’s Saarland MinisterNHPC Raises ₹2,000 Crore Through 15-Year AH Series Bond Issuance At 7.29% CouponTSECL Invites EOI For 50 MW/200 MWh Standalone BESS Projects In TripuraGlobal Top Five Solar PV Cell Shipments Climb 19.8% In 2025 As Topcon Dominates MarketSaudi Electricity Company Rebrands as Saudi Energy, Strengthening Grid Reliability, Energy Storage Expansion and Vision 2030 AlignmentYokogawa Releases OpreX Pressure Transmitter EJX S SeriesUS Drillers Cut Oil and Gas Rigs For First Time in Six Weeks, Says Baker HughesUS Oil Output Fell in December to Lowest Since June 2025, EIA SaysOil Prices Rise More Than 2% as US and Iran Extend TalksUS Oil Output Fell in December to Lowest Since June 2025, EIA SaysCheniere Gets $370 Million ‘Alternative Fuel’ Tax Break From Trump’s IRSRussia Shipped 80% of its 2025 Oil Exports to China and IndiaCroatia Ready to Supply Crude to Hungary and SlovakiaUAE Boosts Murban Crude Exports Ahead of Key OPEC+ DecisionOil Prices Surge 3.7% as U.S.-Iran Standoff Triggers Higher 2026 ForecastsWhy Is the Oil Price Rising Today?Judge Says He Will Order Greenpeace to Pay an Expected $345 Million in Dakota Access Oil Pipeline Protest CaseOIL IN 2026 – Analysts Hike Oil Outlook on Geopolitical Risks, Oversupply Concerns Limit UpsideUS Takes Step to Solidify Rules on Nuclear Fusion EnergyVenezuela Suspends 19 Oil Production ContractsAlberta Budgets for Three Years of Deficit on Low Oil PricesIndia Plans 30% Slash in Thermal Coal Imports This YearU.S. Department of Justice Sides With Argentina in $18 Billion YPF LawsuitGoodtech wins NOK20m automation contract for Antec Biogas Norway facilityAir Liquide to supply carbon capture technology for Belgian cement plantEnvision ships first green ammonia to South Korean chemical major from ChinaOil Prices Rise 2% as US and Iran Extend Talks into Next WeekOil Market Is Nervous for the Coming WeekendSolar Tech Weekly: Korea Targets Next-Gen Batteries by 2029; Enerman Digitizes PM-KUSUM with RMS SCADA and More…Philippines DOE Mandates Energy Storage For Large Renewable Energy ProjectsBritain Reconsiders 78% North Sea Oil Tax as Investment SlowsOil Prices Set for Weekly Decline as Risk Premium EasesPlug Power sells New York hydrogen site to data centre developer for $132.5mEuropean Bank For Reconstruction And Development Opens Consultation On 2026–30 GEHC Strategy Supporting Sustainable And Green ProjectsEcoCeres warns against EU SAF trade defence measuresDOE approves 12% boost to Corpus Christi LNG exportsK.P. Energy Limited Receives LoA For 40.8 MW Wind-Solar Hybrid Project In Gujarat, Expanding Renewable PortfolioEuropean Bank For Reconstruction And Development Provides US$8 Million Green Loan To Cairo Amman Bank Palestine To Boost Renewable Energy, Efficiency Upgrades, And Water-Saving Projects For MSMEs And HouseholdsGermany introduces higher auction price ceiling for biomethaneEnerMAN’s RMS SCADA digitizing PM-KUSUM ProjectsPressure-Based CO₂ Capture System Advances Industrial DecarbonisationACCIONA Closes 2025 With €803 Million Net Profit And Strong Growth Across Renewable Energy, Infrastructure, And Nordex Wind ProjectsEuropean Bank For Reconstruction And Development Invests €85 Million In Virya Renewables Poland To Build Poland’s Largest Solar PV Cluster, Generating 666 GWh A Year And Cutting 477,000 Tonnes Of CO₂U.S. Imposes 126% Preliminary Duty On Indian Solar Cell ImportsEuropean Energy Reports EUR 766 Million Revenue In 2025 With 662 MW Renewable Capacity Connected And 1 Million Tonnes Of CO₂ AvoidedCasava, Rivy Launch Renewable Energy Insurance for Nigerian SMEsCheniere’s Profit Soars by 64% in 2025 as LNG Demand JumpsTrump Administration Reopens Door to Offshore Oil Leasing in CaliforniaAramco Starts Gas Production at JafurahRecurrent Energy Signs 10-Year PPA With Italian Fashion Group For 80% Of Power From 8.05 MWp Pozzolo Solar Plant In Piedmont, Supplying 10,864 MWh Annually And Cutting 2,500 Tons Of CO₂SpenoMatic Launches Solar Interactive Center In Nairobi To Boost Clean Energy AdoptionSTEG Seeks €40 Million EBRD Loan For 50 MW Solar And Battery Storage Project In TunisiaHanwha Aerospace enters LNG trading businessSolaX Power Showcases Advanced String & Hybrid Inverter Portfolio at The smarter E India 2026REC Solar And Ventura Energy Complete 1.73 MW Santa Paula Solar Project With Rooftop Reservoir Arrays, Delivering $12 Million Energy Value And $5 Million Savings For Farmers Irrigation Company’s ModernizationOil Sales Under US-Venezuela Deal to Reach $2 billion by End of February, Sec Wright SaysMoscow Brands EU Leaders “Madmen” Over Oil BanFull EU Ban on Russian Oil Shipping Services Requires Global G7 ApprovalPotential sites identified for SMRs in Chernobyl exclusion zoneAmazon and Meta agreements boost Vistra nuclear plantsLithuania assessing potential for BWRX-300 deploymentOil Prices Tumble as Crucial U.S.-Iran Talks BeginAngola’s State Oil Firm Looks to Tap into Critical MineralsEni’s Oil and Gas Production Jumps 7% with Six New ProjectsOil Drops More Than 1% on US Stockpiles, With US-Iran Talks Also in Focus$5 Billion Pipeline Deal Could Be Coming to the Gulf CoastIran Rushes to Ship Oil Ahead of Possible U.S. StrikeRussia to Tighten Budget Fiscal Rule as Oil and Gas Revenues PlungeJapanese duo inject hydrogen-based synthetic methane into gas gridTopsoe selected for Petrobras SAF and renewable diesel project in BrazilFirst-mover CCUS projects must reach financial close to meet targets urges CCSAUnitaid and Path to test oxygen breakthrough technologies in LMICsTrump Summons Amazon, Google, Meta to Sign Power-Cost PledgeSaudi Arabia Boosting Oil Output In Anticipation of U.S. Attacks On IranIran Restarts Gas Exports to Iraq as Energy Pressures MountShell Weighs $24 Billion Stake Sale in Australian LNG ProjectTop Stories Of The Day: NEP 2026 Feedback Deadline Extended; CleanMax IPO Subscribed 9.9x and More…IEEFA Says AEMC’s Proposed Higher Fixed Electricity Network Tariffs Could Increase Bills For Low-Use Households, Solar and Battery Owners In AustraliaBahrain Launches 372 Renewable Energy Projects Adding 141 MW CapacityZelestra Advances Construction Of 27.5 MWdc Klevenow Solar Project In Mecklenburg-Vorpommern, Germany, With Full Operation Expected By Q2 2026Biggest Oil Cos Need to Find 22MM Bpd by 2040SM Prime Expands Solar Capacity With 7.5 MW Rooftop Project Across Four Philippine Malls

US ‘Not Convinced’ About Lowering G7 Oil Price Cap, European Official Says

Business & Policy
May 22, 2025

(Reuters) – A European official said the United States was “not convinced” about lowering the Group of Seven nations (G7) price cap on Russian crude oil.

The EU proposed revising the cap down to an indicative level of $50 a barrel from the current $60 a barrel.

Get the Latest US Focused Energy News Delivered to You! It’s FREE:

During the G7 finance ministers meeting, the official said the U.S. position was that oil prices were already falling and hurting Russia. However, the official added the U.S. remained open to the idea and discussions would continue.

The U.S. Treasury did not immediately respond to a request for comment.

Reporting by Julia Payne, Editing by William Maclean