Energy

Tuesday, September 5

The US State Department: Russian oil price cap is working effectively.

The US State Department: Russian oil price cap is working effectively. State Department representative Eric van Nostrand said that the $60 per barrel price limit for purchasing Russian oil introduced by the G7 countries and their allies continues to work despite quotatio...

Oil prices have hit a nine-month high.

Oil prices have hit a nine-month high. As Trading Economics writes, WTI oil rose above $85 per barrel amid expectations that the leaders of the OPEC+ countries will continue to cut oil production. The Deputy Prime Minister of the Russian F...

Monday, September 4

In August, traders from the EU and Moldova pumped 1.1 billion cubic meters of gas into Ukraine’s storage.

In August, traders from the EU and Moldova pumped 1.1 billion cubic meters of gas into Ukraine’s storage. Compared to July, the volume has almost doubled, and compared to August of last year, has increased by 800%. According to the Operator of the GTS of Ukraine, Slovakia was the leader in gas transportat...

The Tyligulska wind power plant have started selling electricity on market terms.

The Tyligulska wind power plant have started selling electricity on market terms. As of September 1, the WPP abandoned the terms of the state’s Guaranteed Buyer and began selling electricity on market terms, according to the DTEK. This allows renewable energy companies to rec...

The Guaranteed Buyer is considering the EU market for trade in Ukrainian energy from renewable sources.

The Guaranteed Buyer is considering the EU market for trade in Ukrainian energy from renewable sources. Artem Nekrasov, the head of the state-owned enterprise, Guaranteed Buyer, considers this direction to be promising as, mainly due to the difference in time zones, the Guaranteed Buyer can offer RES e...

Friday, September 1

Ukraine has fulfilled another IMF beacon: a reformed GTS Operator.

Ukraine has fulfilled another IMF beacon: a reformed GTS Operator. The President of Ukraine, Volodymyr Zelenskyy, signed a law that optimizes the structure of the Gas Transport System Operator of Ukraine (OGTSU). These measures are provided for in a memorandum with t...

Ukraine’s Ministry of Energy has presented the Energy Security Concept.

Ukraine’s Ministry of Energy has presented the Energy Security Concept. As reported by the ministry, it is necessary to ban politically motivated exploitation of energy resources at the global level. To accomplish this, it is essential to develop documents within the fram...

Thursday, August 31

EU gas reserves have reached an absolute record, and pipeline supplies from Russia continue at maximum capacity.

EU gas reserves have reached an absolute record, and pipeline supplies from Russia continue at maximum capacity. Gas volumes in the EU have risen to their highest level ever and continue to grow, according to data from Gas Infrastructure Europe. The current inventory level has reached 92.65%, 12% higher than the...

Wednesday, August 30

A Polish oil concern increased sales to Ukraine by 62% in six months.

A Polish oil concern increased sales to Ukraine by 62% in six months. According to the Warsaw Stock Exchange, the Orlen company sold $513M in products to Ukrainian companies. In the second quarter of this year, compared to last year’s corresponding period, sales i...

Nuclear power provides half of Ukraine’s electricity needs and generates income.

Nuclear power provides half of Ukraine’s electricity needs and generates income. For the first seven months of the year, the share of nuclear power plants in the structure of electricity production was 47.6%, thermal power plants – 27.8%, hydroelectric power plants and hydro...

Tuesday, August 29

The US is ready to fully supply Europe with gas.

The US is ready to fully supply Europe with gas. At the G7 meeting in Japan, the US plans to promote the export of American natural gas to the EU, said the speaker of the House of Representatives, Kevin McCarthy. He said that parliament speakers wil...

Monday, August 28

Kyiv is ready to continue the transit of Russian gas to the EU without contracts with the aggressor.

Kyiv is ready to continue the transit of Russian gas to the EU without contracts with the aggressor. As the Ambassador of Ukraine to Moldova, Marko Shevchenko, explained, transit after 2024 can be extended by agreement with importers. “Ukraine will not initiate negotiations on extending the agr...

The commercial gas price in Ukraine has become more expensive than in the EU.

The commercial gas price in Ukraine has become more expensive than in the EU. According to industry media, the price of natural gas in the Ukrainian market has been rising since July, and today the price has exceeded the European price, said industry experts. The average price ...

A Vinnytsia poultry farm will receive a $30M loan from the IFC for biomethane production.

A Vinnytsia poultry farm will receive a $30M loan from the IFC for biomethane production. According to the IFC, the funds will finance the plant’s modernization and expansion in order to produce biomethane from agricultural waste. The first stage, financed under the project, will dem...

Thursday, August 24

The UK will help Ukraine demine energy facilities and provide $245M to purchase nuclear fuel.

The UK will help Ukraine demine energy facilities and provide $245M to purchase nuclear fuel. The Ministry of Energy of Ukraine and the British non-governmental organization The Mines Advisory Group (MAG) agreed to cooperate on the demining of energy facilities and their adjacent territories. ...

State company Naftogaz plans to modernize gas production in Ukraine.

State company Naftogaz plans to modernize gas production in Ukraine. To optimize the development of natural gas, the company will rely on the US’ experience, writes NI. The publication notes that Ukraine can become an energy-independent country in six years if it...

Monday, August 21

The EU has increased the import of Russian gas, and Hungary is preparing to use the Turkish Stream for this.

The EU has increased the import of Russian gas, and Hungary is preparing to use the Turkish Stream for this. According to Energy Intelligence, Russian pipeline gas exports to Europe continued their recent upward trend in the first half of August. And average daily flows reached the highest level since August...

Friday, August 18

Ukraine rejects the possibility of negotiations with the Russian Federation regarding gas transit after 2024.

Ukraine rejects the possibility of negotiations with the Russian Federation regarding gas transit after 2024. Ukraine will not negotiate on the extension of the transit contract after its completion, said Energy Minister German Galushchenko. “The contract, which provides for the transit of gas from Russ...

Thursday, August 17

EU traders have pumped 600 million cubic meters of gas into Ukraine’s underground storage.

EU traders have pumped 600 million cubic meters of gas into Ukraine’s underground storage. Energy Minister German Galushchenko noted that Ukraine’s storage facilities are the largest in Europe, with a total volume of more than 30 billion cubic meters, and with 15 billion cubic meters ...

Wednesday, August 16

A Ukrainian company has invested UAH 20M in roof-mounted solar panels to replace 30% of its electrical consumption with green energy.

A Ukrainian company has invested UAH 20M in roof-mounted solar panels to replace 30% of its electrical consumption with green energy. The city council reported that the Aurora Multimarket company has completed the first stage construction of a UAH 20M rooftop solar power plant on its distribution center in Vinnytsia, the city counci...

Ukraine’s energy regulator plans to resume debt repayments to clean energy producers.

Ukraine’s energy regulator plans to resume debt repayments to clean energy producers. The National Commission for Regulation of the Energy Market has approved changes to a resolution approving legal acts that regulate the activities of the Guaranteed Buyer and the purchase of electrici...

Tuesday, August 15

A loophole in the oil price ceiling allows the Russian Federation to earn billions.

A loophole in the oil price ceiling allows the Russian Federation to earn billions. Inflated transportation costs allow Russian companies to make much more from selling crude oil to India than previously recognized. According to the FT, these cost overstatements could bring in more t...

Monday, August 14

Ukraine is working with partners within the Peace Formula to restore and protect the energy system.

Ukraine is working with partners within the Peace Formula to restore and protect the energy system. “Ukraine is working with allies worldwide to increase the power equipment supply, which will allow us to add 2.9 GW of power to the power system by December,” said Prime Minister Denys Shm...

Friday, August 11

Production and sale of nuclear generated electricity in Ukraine decreased by 25%.

Production and sale of nuclear generated electricity in Ukraine decreased by 25%. According to results from 2022 and the first half of 2023, Energoatom’s electricity production and sales volumes fell by a quarter, said the vice president of the state enterprise, Hartmut Jacob...

Thursday, August 10

The operator of the Gas Transportation System of Ukraine will become an electricity producer.

The operator of the Gas Transportation System of Ukraine will become an electricity producer. The Ukrainian Parliament adopted a law that optimizes the ownership structure of the GTSU Operator. This step will make it possible to change the profile of some compressor stations to gas power stati...

European gas prices jumped to a two-week high on concerns about LNG supplies.

European gas prices jumped to a two-week high on concerns about LNG supplies. Based on fears of shrinking LNG flows, natural gas futures jumped more than 8% to over €33 per MWh, their highest level in two weeks. These concerns outweighed the fact that gas reserves in storage ar...

Wednesday, August 9

EU gas prices are falling due to full gas storages, and traders have switched to Ukrainian gas storage.

EU gas prices are falling due to full gas storages, and traders have switched to Ukrainian gas storage. Futures on the TTF hub in the Netherlands fell 1.7% to €29.97 per MWh (about $350 per thousand cubic meters), according to data from the ICE exchange. Bloomberg notes that sluggish demand after last y...

Tuesday, August 8

Without the EU market, pipeline exports of Russian gas will drop by 62%.

Without the EU market, pipeline exports of Russian gas will drop by 62%. Russian business media reported that the export of gas to the European region will fall from 206 billion cubic meters in 2021 to 80 billion cubic meters in 2023. Due to sanctions against Russia and Ga...

Monday, August 7

The NBU predicts a slight increase in oil prices in the second half of the year,

The NBU predicts a slight increase in oil prices in the second half of the year, against the background of the global economy’s upturn, particularly in China. In the rest of the year, prices will be under downward pressure due to the active production increase in the US and ...

Ukraine will not renew the contract for the transit of Russian gas to the EU after 2024.

Ukraine will not renew the contract for the transit of Russian gas to the EU after 2024. Ukraine has warned Austria that it does not plan to extend the gas transit contract, DW economic expert Andriy Gurkov said. He notes that the Ukrainian route mainly serves Austria, with some small gas...

Friday, August 4

Ukraine’s state oil and gas company, Naftogaz, plans to increase gas production by 8% this year.

Ukraine’s state oil and gas company, Naftogaz, plans to increase gas production by 8% this year. In 2023, Naftogaz Group intends to increase gas production by 8% compared to 2022, announced company CEO Oleksiy Chernyshov. “Despite the war, Naftogaz maintained their gas production volume. Mo...

US Senators have proposed a $1.8B bill to restore the energy sector of Ukraine.

US Senators have proposed a $1.8B bill to restore the energy sector of Ukraine. Two American senators introduced a bill for consideration by the upper house of Congress, allocating more than $1.8B for the restoration of Ukraine’s energy sector. In a statement from the chair...

Imports of liquefied natural gas into the EU fell to the lowest since autumn 2021.

Imports of liquefied natural gas into the EU fell to the lowest since autumn 2021. According to Bloomberg, Europe’s liquefied natural gas imports slumped to their lowest level since Russia invaded Ukraine after a price drop reduced the region’s appeal, reported Bloomberg...

Thursday, August 3

The UN will implement a $50M energy project in Odesa.

The UN will implement a $50M energy project in Odesa. The UN Development Program plans to implement a project by the start of winter to increase the capacity of Odesa’s energy infrastructure with a price of more than $50M. The Ministry of Foreign A...

Wednesday, August 2

Oil became cheaper after the price spike at the end of July.

Oil became cheaper after the price spike at the end of July. Oil prices eased slightly on August 1 after rallying in July amid supply cuts from OPEC+ and positive macroeconomic statistics from the world’s largest economies. The October futures price for B...

Ukraine wants to attract Slovak investors for RES projects in Transcarpathia.

Ukraine wants to attract Slovak investors for RES projects in Transcarpathia. The Deputy Minister of Energy of Ukraine, Yaroslav Demchenkov, and the State Secretary of the Ministry of Economy of Slovakia, Peter Shvets, discussed the possibilities of expanding Slovak business ac...

Monday, July 31

Ukraine is repairing energy infrastructure and will add 1.7 GW to the power system before the heating season.

Ukraine is repairing energy infrastructure and will add 1.7 GW to the power system before the heating season. Ukraine is currently undergoing its largest repair campaign on its energy system. The task of adding 1.7 GW to the power system before the start of the heating season has already been partially implem...

Friday, July 28

State energy trader ECU guarantees the sale of 100% green electricity to its counterparties.

State energy trader ECU guarantees the sale of 100% green electricity to its counterparties. JSC Energy Company of Ukraine has concluded the first agreements with energy producers from renewable energy sources (RES) regarding balancing services and guaranteed purchase of electricity, said the...

Thursday, July 27

An American company will assess Ukrnafta’s gas fund.

An American company will assess Ukrnafta’s gas fund. PJSC Ukrnafta and the American company Weatherford will work together to increase gas production, said the head of Ukrnafta, Serhii Koretsky. Weatherford will conduct an engineering assessment of Ukra...

Friday, July 21

The Ukrainian state energy company has attracted about $1B from partners for restoration.

The Ukrainian state energy company has attracted about $1B from partners for restoration. As specified by Ukrenergo, the money will be provided through loans and grants to restore the country’s energy supply. The chairman of the board, Volodymyr Kudrytsky, noted on the air of a telet...

Thursday, July 20

Fitch has confirmed the likely default of the Ukrainian energy company.

Fitch has confirmed the likely default of the Ukrainian energy company. The Fitch Ratings agency confirmed the long-term default rating for the NEC Ukrenergo electricity system company at the CC level (probable default) and the priority unsecured rating of its $825M in st...

Tuesday, July 18

Velta Partners with EAS Advisors LLC to Secure Funding for Titanium Plant Construction in the U.S.

Velta Partners with EAS Advisors LLC to Secure Funding for Titanium Plant Construction in the U.S. The Velta group of companies with assets for the extraction of titanium-bearing ores in the Kropyvnytskyi region signed an agreement with the private New York consulting company EAS Advisors to attrac...

Friday, July 14

Global demand for fossil fuels has already reached its peak.

Global demand for fossil fuels has already reached its peak. Fossil fuels are no longer economically viable, and their use has peaked. At the same time, the growth of renewable energy sources is driving down global electricity prices, according to a report by t...

One of the largest retailers in Ukraine is installing solar panels on its stores’ roofs to generate 30% of their energy needs with green electricity.

One of the largest retailers in Ukraine is installing solar panels on its stores’ roofs to generate 30% of their energy needs with green electricity. Over the past 1.5 months Epicenter K installed solar energy systems (SES) in three Kyiv stores and two in Vinnytsia. It is noted that the total capacity of the five SESs, which have already been put ...

Wednesday, July 12

Zhytomyr launches a green CHP plant that will burn sorted garbage.

Zhytomyr launches a green CHP plant that will burn sorted garbage. One of the bio-CHP plants in Zhytomyr, which was planned to operate on wood chips, will switch to 50% refuse derived fuel (RDF) from the local waste processing plant, Deputy Mayor of Zhytomyr Serhii K...

The gas war with the EU has deprived Russia of $28B in revenue.

The gas war with the EU has deprived Russia of $28B in revenue. The loss of the European gas market, which accounted for almost 80% of Gazprom’s exports, will cost the Russian federal budget $28B in tax revenue this year, according to Vygon Consulting. Gazpr...

Tuesday, July 11

A French company has started construction of modern power grids in Ukraine.

A French company has started construction of modern power grids in Ukraine. Work has begun in the Zaporizhzhia region by the French company, EDF International Networks. According to Deputy Energy Minister Yaroslav Demchenkov, the new networks are expected to be flexible, effi...

Friday, July 7

Ukraine may buy two Russian nuclear reactors from Bulgaria.

Ukraine may buy two Russian nuclear reactors from Bulgaria. Ukraine is close to concluding an agreement with Bulgaria on purchasing two Russian-made nuclear reactors and other critical energy equipment, reported the WSJ. According to the agreement, the negotia...

Thursday, July 6

Ukraine lost more than 10 cubic kilometers of water due through the Kakhovka HPP tragedy.

Ukraine lost more than 10 cubic kilometers of water due through the Kakhovka HPP tragedy. As a direct result of the destruction of the Kakhovka HPP dam, the reservoir’s area decreased by 80%, and Ukraine lost more than 10 cubic kilometers of water, said the Minister of Environmental ...

Ukraine’s largest gas producer has put three more wells into operation.

Ukraine’s largest gas producer has put three more wells into operation. State company Ukrgazvydobuvannya put into operation three highly productive wells in June, with a total throughput of 425,000 cubic meters of gas per day, reported the Naftogaz Group. The company adde...

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