gasreserve
European energy ministers have agreed to extend for a second year voluntary measures to keep natural gas demand across to at least 15% below where they stood when Russia supplied some two-fifths of the bloc’s needs, while the EU executive said the bloc is ready to stop ongoing imports through war-torn Ukraine. Belgian energy minister Tinne Van der Straeten – who chaired an EU Council summit in Brussels on Monday (4 March) that included a discussion of ensuring reserves are filled in time for the next winter – said the emergency measures had “clearly worked” with gas demand across the 27-member...
Euronews (English)
Plans to expand the Southern Gas Corridor and provide more gas for Europe have been discussed in Azerbaijan. 23 countries in the Southern Gas Corridor council met in Baku to discuss the capacity of gas supply expansion, seen as a crucial route of gas supply diversification for the EU and its neighbouring countries. High on the agenda was the exploration of joint goals to ensure long-term energy security, diversification of supply, and a transition to green and renewable energy. "We do it not because we lack traditional resources, but because we want to contribute, using the financing, using th...
Euronews (English)
The British energy regulator Ofgem announced on Friday that it will drop the energy price cap in response to falling wholesale costs. From April to June, the maximum price suppliers will be able to charge customers will fall to its lowest level in two years. Compared to the same period in 2023, Ofgem is planning a cut of around 12%, which will bring an annual average household bill to £1,690. This is down from the current yearly total of £1,928, saving customers an average of £20 a month. Direct debit gas prices will be capped at 6p per kilowatt hour (kWh) and electricity at 24p per kWh. To co...
Euronews (English)
At the time of writing, TotalEnergies stock was down 1.23% at €59.45 on the London Stock Exchange, reflecting investor sentiment after the company reported its latest Q4 earnings results. The energy giant said adjusted net income fell 31% in Q4 from a year earlier to $5.23 billion (around €4.8bn), missing the average analyst estimate of $5.66 billion (around €5.2bn), due to weaker oil and gas prices and shrinking refining margins. BP sees profits for 2023 plunge, but still second highest in decadeTotalEnergies shares 2024 outlookIn its outlook for 2024, the energy giant acknowledged the uncert...
Euronews (English)
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