France, one of Europe’s leading electricity exporters, has taken 28 of its 56 atomic reactors offline due to defects or maintenance. The step comes amid a months-long energy crunch, one of the worst in European history. The 1,300-megawatt Golfech-2 reactor run by Electricite de France (EDF) in the south of …
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Russia’s state-owned gas company Gazprom said on Friday it was delisting its depository receipts from international stock exchanges after the Russian government refused to agree on their further circulation. According to a statement on the company’s website, holders will have the “right to convert them into ordinary shares.” Gazprom also …
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Replacing Russian gas with other sources will be next to impossible in the near term, according to Alfred Stern, CEO of Austrian oil and gas company OMV. “On the supply of gas for Europe, I think we should be rather clear, that in the short run it will be very …
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Banning Russian natural gas imports is “currently impossible” for Austria, the country’s energy minister, Leonore Gewessler, told the press over the weekend. “Austria is 80% dependent on Russian gas. As painful as it is, a gas embargo is currently not possible for us, just as it is for some other …
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US Treasury Secretary Janet Yellen said on Thursday that a complete European ban on Russian oil and gas imports would “clearly” raise global oil prices and may inflict harm on Europe and other parts of the world. Speaking to reporters following a meeting with Ukrainian Prime Minister Denys Shmyhal and …
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Consumer prices in Germany will see a 7-8% increase in 2022, Karl von Rohr, the vice president of Deutsche Bank, told the Frankfurter Allgemeine newspaper. However, if the government restricts Russian energy imports, prices could spike 10% or more in the coming months. “If energy imports are more limited, we …
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Russia is planning to increase the use of the ruble in energy exports, but no deadlines have been set for the payment switch, Kremlin spokesman Dmitry Peskov said on Friday. “The president has set a methodical and step-by-step approach to expanding the use of national currencies,” Peskov told reporters in …
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Russian President Vladimir Putin said on Thursday that certain Western countries are failing to pay on time for the delivery of Russian energy. “Banks from most ‘unfriendly’ countries are delaying the transfer of payments,” the head of state said. According to Putin, despite the calls to reduce energy supplies, Western …
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China’s state-owned oil and gas corporation China National Offshore Oil Corporation (CNOOC) is reportedly preparing to exit from the US, UK and Canada due to mounting concerns about sanctions, regulations and rising costs. Relations between China and Western countries have soured over the past several years. Beijing’s ties with Washington …
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The European Union’s foreign ministers have not agreed on a ban on Russian oil and natural gas imports, Head Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell said on Monday, adding that discussions on the issue will continue. The energy ban was expected to be …
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