EurOil - Europe Oil & Gas
Venezuela saw exports of crude oil and refined fuels rise by 61% last month as it resumed shipments of crude to Europe for the first time in two years.
From August 1, regulated energy prices for households will apply only to electricity and gas consumption up to the national average.
The European Parliament has voted that nuclear power and some forms of low-carbon natural gas can be classified as ‘green’. This could lead to billions of dollars of state subsidies and private investment for the energy sources.
A sanctions exemption issued by the Canadian government to enable the return of a Siemens turbine to Russia’s Nord Stream pipeline will last for up to two years from now, making possible the import and re-export of a further five turbines.
Russian natural gas exports to Spain rose more than four-fold year on year in June, while Algerian deliveries dropped by more than half, according to data released by Spain's Enagas.
Mauritania’s Minister of Petroleum, Mines and Energy Abdesselam Ould Mohamed Saleh says rising natural gas producers in West Africa are eager to help Europe resolve concerns about energy supplies and prices.
Decom Engineering, a pipeline decommissioning firm based in Northern Ireland, said on July 7 that it had won contracts worth for two new projects offshore West Africa and on the UK Continental Shelf (UKCS).
The Nord Stream 1 pipeline closed down on July 11 for routine maintenance. Under normal circumstances the 10-day closure would cause no alarm, but European officials have suggested that Moscow may keep the 55 bcm per year offline longer.
Without Russian gas, the European Union would have to reduce demand by approximately 15%, with big differences between different parts of Europe.