Germany Caps Power Prices to Save Its Industrial Base
Germany has agreed to subsidize electricity for its heavy industries, capping prices at about €0.05 per kilowatt-hour from 2026 through 2028—a major policy move aimed at keeping its industrial base…
Oil Stabilizes After Selloff Amid OPEC Reassessment and U.S. Funding Deal
Oil prices steadied on Wednesday after a sharp 4% slide the day before, with Brent trading near $63.08 and WTI around $58.80 at 11:01 a.m. ET, as traders reassessed the…
Germany cuts electricity prices in boost for industrial gas sector
Germany’s energy-intensive industries will have access to a subsidised power price until 2028 in order to reduce costs and boost competitiveness, according to a Reuters report. The subsidised price will…
U.S. Sanctions Strand a Third of Russia’s Crude Exports at Sea
Nearly a third of Russia’s current seaborne oil export potential is now stuck in tankers as the U.S. sanctions upend crude flows and Russia’s top buyers, China and India, are…
Nigeria Scraps Plans for Fuel Import Duty in Blow to Local Refiners
Nigeria is abandoning plans to impose a 15% duty on imported refined petroleum products, which is a blow to its new private domestic refinery of billionaire Aliko Dangote. “The implementation…
EU Development Bank Boosts Funding for Ukraine Gas Supply
The European Union’s development bank has decided to provide additional funds to Ukraine’s state energy firm Naftogaz to secure natural gas supply amid continued Russian attacks on the Ukrainian energy…
Norway’s Oil Industry Raises 2026 Investment Forecast
Energy operators offshore Norway expect to invest $24.8 billion (249 billion Norwegian crowns) in oil and gas activities next year, Statistics Norway’s latest quarterly survey showed on Thursday. The estimate…
Australia’s Conservative Opposition Ditches Net-Zero Goal
Australia’s Liberal Party, the conservative opposition party, is abandoning the net-zero by 2050 target and will remove it from the country’s Climate Change Act if elected, the party leaders announced…
IEA Warns Oil Glut Will Be Worse Than Expected
The surplus on the oil market next year will be even higher than previously expected, the International Energy Agency (IEA) said on Thursday, as it raised both its demand and…
Hungary’s MOL Moves to Acquire Stake in Sanctioned Serbian Refinery
Hungarian oil company MOL is close to buying an 11.3% stake in Serbia’s only refinery from its Russian owners, Serbian news outlet NIN reported on Thursday, citing sources familiar with…
