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FRANKFURT, Germany (AFP) — Germany should extend the lifetime of its nuclear plants to avoid an “extreme scenario” in which a Russian gas stop could wipe 12 percent off the economy, a government advisor said Thursday. Prolonging the operational lifetime of Germany’s remaining reactors could “create some breathing space”, Veronika Grimm, a member of the government’s council of economic advisors, told the Funke media group. Germany turned its back on nuclear energy following the […]
3rd oil price hike lower compared to the the price increase in the last two weeks Gas prices to increase by P0.80 per liter, diesel prices up by P3.10 per liter (Eagle News) – Effective Tuesday, June 21, oil companies will implement another round of oil price increase, although less than the hike implemented in the previous two weeks. Various oil companies have already issued advisories on the 80 centavo increase per liter of gasoline, […]
PARIS, France (AFP) — Russia earned 93 billion euros ($98 billion) from fossil fuel exports during the first 100 days of its war in Ukraine, with most sent to the European Union, according to research published Monday. The report from the independent, Finland-based Centre for Research on Energy and Clean Air (CREA) comes as Kyiv urges the West to sever all trade with Russia in the hopes of cutting off the Kremlin’s financial lifeline. […]
Assurance made during discussion with President-elect Marcos Jr. (Eagle News) – The Russian government will help the Philippines in its oil and energy needs, the Russian ambassador to the Philippines assured on Monday, June 13. In his remarks after his courtesy call on President-elect Ferdinand Marcos Jr., Russian ambassador Marat Pavlov said that his government would help the Philippines during this time of energy crisis. Russia is one of the top oil producers in […]
NEW YORK, United States (AFP) — The average price of premium gasoline at the pump has surpassed $5 a gallon for the first time in the United States, the American Automobile Association (AAA) reported Saturday. That record level, coming on top of months of soaring inflation, represents the latest bad news for President Joe Biden just five months before crucial midterm elections. A year ago, the average price of gas in the US was […]
President Joe Biden on Monday will suspend tariffs for two years on solar panel imports from Cambodia, Malaysia, Thailand, and Vietnam — but not China — as the US seeks to boost domestic clean energy manufacturing, the White House said. Biden’s administration will also invoke the Defense Production Act (DPA) to accelerate domestic production, and use the federal government’s purchasing power to increase demand, a fact sheet said. China is excluded as the Commerce Department […]
by Miodrag Sovilj Agence France-Presse BELGRADE, Serbia (AFP) — While the European Union scrambles to isolate Russia and reduce energy imports from the country, EU candidate Serbia is tightening its bond with Moscow through a new gas supply deal. Belgrade has condemned the Russian invasion of Ukraine at the United Nations, but it has refused to take part in sanctions against its old ally, even though Serbia aims to join the EU. A day before […]
MOSCOW, Russia (AFP) — Russia’s Gazprom said Wednesday its gas exports to countries outside of the former Soviet Union dropped by more than a quarter year-on-year between January and May after losing several European clients. Exports to countries outside the region totalled 61 billion cubic metres, a 27.6 percent fall from the same period last year, the energy giant said in a statement. Gazprom added that gas deliveries to China via the “Power of Siberia” […]
MOSCOW, Russia (AFP) — Russia’s energy giant Gazprom said Wednesday it had stopped all gas supplies to Poland and highly dependent Bulgaria after not receiving payment in rubles from the two EU members. President Vladimir Putin last month said Russia will only accept payment for deliveries in its national currency, with buyers required to set up ruble accounts or have their taps turned off. Gazprom said in a statement it notified Bulgaria’s state-owned gas […]
LONDON, United Kingdom (AFP) — World oil prices sank more than five percent Monday on fears that China’s worsening Covid outbreak could slam demand from the major energy consumer. Europe’s benchmark contract Brent North Sea crude fell as low as $101.20 per barrel and US WTI oil dropped to $96.85. China is struggling to get a grip on a renewed Covid outbreak that has forced Shanghai — the country’s biggest city — into lockdown […]
Advisory notes “inevitability of domestic price spikes” reflecting global market movements (Eagle News) – Oil price hikes would most likely continue due to the ongoing Ukraine-Russia crisis, according to the Philippine Department of Energy. The DOE issued an advisory over the weekend warning the public against the “impending increase in the price of petroleum products” that would take effect this week, particularly on Tuesday, April 26. The ongoing Russia-Ukraine crisis translates to instability in world […]
UN Secretary-General António Guterres presented the first detailed policy brief issued by the Global Crisis Response Group on Food, Energy and Finance (GCRG), which he set up to study the effects of the war in Ukraine on the world’s most vulnerable. Here is a summary of the findings, and some of your key questions answered, on what the Group aims to achieve. Speaking at the launch of the brief, Mr. Guterres pointed out that, whilst […]
