EurOil - Europe Oil & Gas
Voices are calling very loudly for the EU to shut off deliveries of Russian gas immediately. Since the start of the conflict in Ukraine, Germany has paid Russia some €9bn a week for gas imports that critics say is being used to fund the Putin war.
The European Union will establish higher targets for renewable energy as it seeks more energy independence from Russia, the bloc’s climate policy chief Frans Timmermans has told reporters.
Despite Latvian PM’s claim on ‘no’ more Russian gas, country’s gas market operator signs new contract with Gazprom
Russia dominates Europe’s oil supplies, accounting for 25% of all oil deliveries. Most of Europe wants to diversify away from Russian oil, but adding to the difficulties is that much of this oil is delivered not by ship but the Druzhba pipelines.
Hungary plans to pay for Russian gas in euros through Gazprombank, which will convert the payment into roubles.
Warsaw has been accused of dragging its feet about ending Russian oil imports, while calling for an urgent EU-wide embargo at the same time.
As NOC chairman Mustafa Sanalla talks to European countries about making more gas available, Libya’s Oil Minister Mohammed Oun stresses the need for caution and capacity-building.