Uniper, the highest-profile corporate victim of Europe's energy crisis so far, reported a 12.3 billion euro loss ($12.5 billion) due to Russian gas supply cuts, saying it had become a 'pawn' in the energy standoff between the European Union and Moscow…
A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as European refiners test potential replacements for Russian oil.Europe is aiming to…
Germany signed a memorandum of understanding (MoU) on Tuesday with the country's top gas importers to safeguard the supply of two floating liquefied natural (LNG) gas terminals it needs to reduce reliance on Russian energy.Under the MoU with Uniper and EnBW's VNG…
Dutch gas prices rose on Friday, boosted by further delays in replacing a turbine for the Nord Stream 1 pipeline from Russia, and as Germany raised its gas storage targets, British gas prices fell, however, on softer demand, Reuters reported…
The German government is considering converting parts of the Nord Stream 2 gas pipeline into a connection for a liquefied natural gas terminal on the Baltic Sea coast.Magazine Der Spiegel reported on Friday that the German economy ministry is…
Gerhard Schroeder has backed off from taking a top role at Russian energy giant Gazprom, dealing a setback to Germany's gas lobby as it seeks to keep the energy lifeline from Russia open.The former German chancellor played a critical role in…
Russia's state-owned oil company Rosneft said on Friday that former German chancellor Gerhard Schroeder and German businessman Matthias Warnig were stepping down from its board of directors.The European Parliament had urged on Thursday that Schroeder…
Vallourec is starting a process to close its German manufacturing sites as it had failed to find a 'credible' buyer for the assets, the French steel pipe maker said on Wednesday.Vallourec also said it would close its heat treatment line in Saint-Saulve in France and a site in Scotland…
Germany will show solidarity with European Union countries seeking alternatives to Russian gas and oil, for example helping eastern states without ports in the North or Baltic Seas access liquefied natural gas (LNG), Chancellor Olaf Scholz said on Thursday…
Austrian oil and gas group OMV reported better-than-expected first-quarter results on Friday as higher market prices and gains across all units more than offset a hit from impairments related to the discontinued Nord Stream 2 project.OMV said its adjusted operating income grew to 2…
Germany would face a sharp recession if gas supplies from Russia are suddenly cut off, the country's leading economic institutes said on Wednesday, and the government said the war in Ukraine poses 'substantial risks' for Europe's largest economy…
Russia's Gazprom said on Friday it was quitting its business in Germany at a moment of crisis in the vital energy ties between the two countries in the wake of Russia's invasion of Ukraine.The gas giant gave no details or explanation of its…
Russian gas deliveries to Europe through the Nord Stream 1 pipeline across the Baltic Sea dipped slightly on Wednesday, while gas continued to flow eastwards from Germany into Poland along the Yamal-Europe pipeline.Flows to Germany through Nord Stream 1 stood at 65…
Russian piped gas deliveries into Germany via Nord Stream 1 and Poland and into Slovakia via Ukraine remained stable, pipeline operator data showed on Thursday.Flows through the Nord Stream 1 pipeline which crosses the Baltic Sea to Germany were steady at around 73…
Russia said it could cut gas deliveries to Germany through the Nord Stream 1 pipeline amid rising tensions over the Ukraine crisis, disrupting a route that accounted for 60% of Russian gas supplies to Europe in the first two months of this year…
