Energy

Wednesday, October 30

The World Bank predicts a historic oil surplus that will cause prices to fall in 2025.

The World Bank predicts a historic oil surplus that will cause prices to fall in 2025. The World Bank predicts that in 2024-2025 global oil supply will exceed demand by an average of 1.2 million barrels per day. This surplus will likely limit the price effects from an even wider conflic...

Tuesday, October 29

German businesses contemplate their options as the suspension of military reservations threatens companies working in Ukraine.

German businesses contemplate their options as the suspension of military reservations threatens companies working in Ukraine. The suspension of the reservation of Ukrainian workers, despite the millions of dollars invested by German companies to support Ukraine’s economy during the war, threatens the business community...

Ukraine must stop the accumulation of debts in green energy payments because it harms investment.

Ukraine must stop the accumulation of debts in green energy payments because it harms investment. The situation with debt in the renewable energy market is still critical, so the state should find ways to solve this problem and prevent it from becoming an obstacle to attracting investment in the g...

Friday, October 25

Most Ukrainian businesses invest in building their energy independence.

Most Ukrainian businesses invest in building their energy independence. According to EBA research, this summer’s power outages affected the operations of 87% of companies in Ukraine. Among the companies surveyed, 67% had to suspend work, 60% had increased production...

Tuesday, October 22

Denmark will provide Ukrainian cities with loans of up to €100M for energy-efficient projects that have been unable to attract investors.

Denmark will provide Ukrainian cities with loans of up to €100M for energy-efficient projects that have been unable to attract investors. The Ukrainian government has approved a procedure for selecting projects enabling energy efficiency, energy saving, and alternative fuels, which will be financed within the Danida Business Finance pro...

Friday, October 18

The EU’s refusal to buy Russian gas will deprive the aggressor of $6.5B annually.

The EU’s refusal to buy Russian gas will deprive the aggressor of $6.5B annually. The European Union’s willingness to abandon Russian gas and the cessation of its supply to the EU benefit Ukraine, as it deprives the aggressor country of annual budget revenues of $6.5B, noted ...

Ukraine offers new schemes and conditions for supplying the EU’s gas.

Ukraine offers new schemes and conditions for supplying the EU’s gas. Ukraine has offered Slovakia and Azerbaijan a new scheme for gas supplies through its territory to the EU. Discussions are centered on the option of storing gas in Ukrainian underground storage facili...

Thursday, October 17

The EU is ready to end Russian gas transit through Ukraine and condemns Hungary for its agreements with Gazprom,

The EU is ready to end Russian gas transit through Ukraine and condemns Hungary for its agreements with Gazprom, said European Commissioner for Energy Kadri Simson after a meeting of energy ministers in Luxembourg. “We knew this contract would expire before the end of the year. The EC is working closely wi...

Wednesday, October 16

The Zhytomyr region is constructing alternative power generation: Turkish investors will build a wind farm.

The Zhytomyr region is constructing alternative power generation: Turkish investors will build a wind farm. A Turkish company, Atlas Global Energy, plans to build new wind energy facilities in the Zhytomyr region, reported the head of the Zhytomyr OVA, Vitaliy Bunechko. “We are sure that the new wind ...

The EU is considering two options for gas transit through Ukraine.

The EU is considering two options for gas transit through Ukraine. Energy ministers from European countries are discussing the import of Russian natural gas against the backdrop of Ukraine’s suspension of transit beginning December 31. Kyiv and Moscow have stat...

Tuesday, October 15

Despite sanctions, the volume of Russia’s shadow fleet has increased by 70% in one year.

Despite sanctions, the volume of Russia’s shadow fleet has increased by 70% in one year. According to KSE analyses, Moscow has increased the volume of its shadow fleet of oil tankers by almost 70% despite restrictions targeting insurers and shipping companies. The volume of Russian oil tr...

Ukrainian businesses have already received loans sufficient to launch 200 MW of generation, and the Ministry of Energy is confident Ukraine will add 1 GW of distributed generation.

Ukrainian businesses have already received loans sufficient to launch 200 MW of generation, and the Ministry of Energy is confident Ukraine will add 1 GW of distributed generation. According to the NBU, from June to September the majority of borrowed funds were for the purchase and installation of gas-piston cogeneration plants (96 MW), the purchase of diesel and gasoline genera...

Foreign investors: Ukraine should create investor friendly conditions for green energy.

Foreign investors: Ukraine should create investor friendly conditions for green energy. According to VR Capital Group, Ukraine must ensure regulatory predictability and stability in order for foreign investors to implement fast construction of new green energy capacities. “We would...

Friday, October 11

This year, businesses intensified their development of renewable energy sources, and non-core companies are entering the market.

This year, businesses intensified their development of renewable energy sources, and non-core companies are entering the market. As a result of the war-induced crisis of traditional power generation, this year businesses were forced to step up the development of renewable energy sources compared to 2023. Two examples are the VR...

Is Ukraine ready for winter without the transit of Russian gas?

Is Ukraine ready for winter without the transit of Russian gas? Ukraine is technically ready to get through the winter without the transit of gas through its territory, which is scheduled to stop entirely on December 31, said head of Naftogaz Oleksiy Chernyshov. N...

Thursday, October 10

Ukraine’s electricity deficit may reach 30% of consumption needs.

Ukraine’s electricity deficit may reach 30% of consumption needs. Volodymyr Velychko, Deputy Chairman of the Supervisory Board of Centrenergo, noted: “Foreign partners believe that this winter will be the most difficult for our country in its entire history, e...

This year, the Russian Federation has attacked the Ukrainian energy system with more than 1,000 missiles and drones.

This year, the Russian Federation has attacked the Ukrainian energy system with more than 1,000 missiles and drones. As noted by the Ministry of Energy, the intensity of Russian shelling of Ukrainian energy facilities in 2024 will significantly exceed the number of attacks on energy infrastructure in the previous ye...

Wednesday, October 9

Ukraine can become an EU energy hub, but stopping the transit of Russian gas has certain risks.

Ukraine can become an EU energy hub, but stopping the transit of Russian gas has certain risks. Thanks to a robust gas transportation and storage system, Ukraine can become Europe’s energy hub and the anchor of its energy security, said Oleksiy Chernyshov, head of the board of Naftogaz of ...

Ukraine plans to create the Green Transition Office.

Ukraine plans to create the Green Transition Office. The Ministry of Economy of Ukraine published an order to establish the Office of Green Transition under the Ministry to ensure the implementation of the National Energy and Climate Plan (NECP) for the...

The transit of Russian oil through Ukraine increased by 37%, exceeding one million tons.

The transit of Russian oil through Ukraine increased by 37%, exceeding one million tons. The transit of Russian oil through the Ukrainian section of the Druzhba oil pipeline in September increased by 37% to 1.06 million tons. According to analysts, except for record volumes in July, the t...

Tuesday, October 8

WPPs are expanding their footprint in Ukraine: State and private companies plan to launch two 600 MW plants in the Ternopil and Vinnytsia regions.

WPPs are expanding their footprint in Ukraine: State and private companies plan to launch two 600 MW plants in the Ternopil and Vinnytsia regions. State enterprise Naftogaz Bioenergy is studying the possibility of building a wind power plant in the Ternopil region. A draft memorandum has been prepared that outlines cooperation between the Saranc...

Friday, October 4

Ukraine resumed exporting small volumes of electricity, demonstrating that the energy system is recovering.

Ukraine resumed exporting small volumes of electricity, demonstrating that the energy system is recovering. In the last days of September, for the first time since May of this year, Ukraine exported about 0.8 GWh of electricity during a period of small domestic demand, according to the Center for Economic S...

Thursday, October 3

Piraeus Bank joins leaders from the business community to discuss strategic planning at the War & Business event hosted by UBN.

Piraeus Bank joins leaders from the business community to discuss strategic planning at the War & Business event hosted by UBN. Piraeus Bank in Ukraine has reinforced its commitment to supporting business resilience and economic planning through its role as the general sponsor of the recent War & Business: Planning for an ...

The US is directing more than $1B to humanitarian support and the energy system’s restoration in Ukraine.

The US is directing more than $1B to humanitarian support and the energy system’s restoration in Ukraine. USAID Administrator Samantha Power reported that more than 250,000 people in our country need rehabilitation support during her third visit to Ukraine since the full-scale war began. Therefore, USAID ...

Saudi Arabia threatens to collapse oil prices to $50, which will hit Russia’s profits.

Saudi Arabia threatens to collapse oil prices to $50, which will hit Russia’s profits. Saudi Arabia will collapse oil prices to $50 per barrel if OPEC+ member countries continue to violate production limits, the country’s oil minister, Abdelaziz bin Salman, warned during a confere...

Ukrainian biomethane producers will have access to gas networks.

Ukrainian biomethane producers will have access to gas networks. The National Energy Regulator of Ukraine approved a draft resolution of amendments to the Code of Gas Distribution Systems. It unifies technical conditions for connecting biomethane production facilit...

Wednesday, October 2

The EU calls energy a decisive front this winter, and urges Ukraine to be allowed strikes on Russian territory.

The EU calls energy a decisive front this winter, and urges Ukraine to be allowed strikes on Russian territory. The head of EU diplomacy, Josep Borrell, said that the main topics in the G7 foreign ministers’ meeting in New York were the support of Ukraine before the approach of winter and the avoidance of...

Opinions of Ukrainian energy experts differ on the duration of winter blackouts.

Opinions of Ukrainian energy experts differ on the duration of winter blackouts. A generation deficit in winter and blackouts are unavoidable, and in the best-case scenario, there will be no electricity for up to five hours a day, said DTEK. And this is provided that Russia inflic...

Experts have proposed a strategy to reduce Russian gas revenues.

Experts have proposed a strategy to reduce Russian gas revenues. Since the start of the full-scale war, Russia has generated almost €800B from the sale of energy resources, of which €33B has been paid by EU countries for Russian LNG. The Center for Economic Strateg...

A Ukrainian company, for the first time, has transported biomethane using the domestic gas transmission system and has plans to export.

A Ukrainian company, for the first time, has transported biomethane using the domestic gas transmission system and has plans to export. The VITAGRO group of companies, with assets in the agricultural, energy, processing, construction, and chemical industries, supplied biomethane into Ukraine’s gas transportation system, which wi...

Tuesday, October 1

For the first time, a green auction will be held in Ukraine to stimulate renewable energy development.

For the first time, a green auction will be held in Ukraine to stimulate renewable energy development. For the first time in Ukraine, state-owned enterprise Guaranteed Buyer has announced an online auction on October 31 to distribute support quotas for enterprises producing electricity using alternativ...

Monday, September 30

Russia’s oil revenue faces further decline as Saudi Arabia plans to increase its oil production while Europe focuses on sanctions against Russian LNG.

Russia’s oil revenue faces further decline as Saudi Arabia plans to increase its oil production while Europe focuses on sanctions against Russian LNG. Saudi Arabia is ready to abandon its unofficial price target of $100 per barrel of oil as it prepares to increase production and protect market share, writes the FT. From December, Saudi Arabia will i...

Thursday, September 26

A Ukrainian company is seeking an investor for a project to relocate a TPP from Turkey to Ukraine.

A Ukrainian company is seeking an investor for a project to relocate a TPP from Turkey to Ukraine. Ukrainian company Energo-Plus Scientific and Production Enterprise, which previously announced its intention to transport a new 60 MW TPP from Turkey and install it in Ukraine, is looking for a privat...

Wednesday, September 25

Ukraine’s allies have provided over $4B in energy support and call for more to be given.

Ukraine’s allies have provided over $4B in energy support and call for more to be given. The G7 countries and other partners have raised more than $4B since the start of Russia’s full-scale invasion to restore Ukraine’s energy infrastructure, US Secretary of State Anthony Blin...

What new energy support did Ukraine’s allies promise?

What new energy support did Ukraine’s allies promise? The Netherlands allocated a new €209.5M aid package to Ukraine to restore critical energy infrastructure. In addition, the Netherlands will contribute €45M to the Energy Support Fund of Ukraine and su...

Elementum Energy plans to build 400 MW of wind power generation in Ukraine at a cost of €500M.

Elementum Energy plans to build 400 MW of wind power generation in Ukraine at a cost of €500M. Elementum Energy, owned by VR Capital, plans to build wind power plants with a capacity of about 400 MW in the south and west of Ukraine in the coming years. Elementum Energy previously announced the...

A turning point for nuclear energy: The world’s largest banks have decided to support the industry.

A turning point for nuclear energy: The world’s largest banks have decided to support the industry. Fourteen global banks, among the largest financial organizations in the world, have pledged to increase their support for tripling global nuclear energy capacity by 2050. More than 20 countries, inclu...

Ukraine should prioritize the development of green energy to attract investment.

Ukraine should prioritize the development of green energy to attract investment. Ukraine should prioritize the development of green energy with specific decisions and actions that will stimulate investors to invest in this industry and reduce the energy deficit, said the top manag...

Tuesday, September 24

Energy experts: Ukraine will enter the winter with a power generation deficit of 4-5 GW.

Energy experts: Ukraine will enter the winter with a power generation deficit of 4-5 GW. Yuriy Korolchuk, an expert at the Institute of Energy Strategies, noted that the existing generation that survived Russian missile attacks will be able to produce about 11 GW of electricity. Thus, the...

By the end of the year, Ukraine can export 100 million cubic meters of biomethane.

By the end of the year, Ukraine can export 100 million cubic meters of biomethane. The MHP agricultural holding’s top manager, Adomas Audickas, said: “If the open markets and buyers are found, Ukraine will be able to export about 100 million cubic meters of biomethane pe...

Solar energy capacity is growing at a record pace, exceeding experts’ forecasts.

Solar energy capacity is growing at a record pace, exceeding experts’ forecasts. According to energy think tank Ember, 593 GW of solar generating capacity will be added by the end of the year, 29% more than last year. These figures are almost 200 GW higher than the International E...

Monday, September 23

Moscow is preparing two scenarios that would allow continued gas transit to the EU; Ukraine states that on is impossible.

Moscow is preparing two scenarios that would allow continued gas transit to the EU; Ukraine states that on is impossible. According to analysts, Russia is considering two scenarios for its return to the European gas market. The first involves the launch of the Nord Stream’s surviving thread, with a capacity of 27.5...

AmCham and Deloitte survey results: How businesses in Ukraine are preparing for winter.

AmCham and Deloitte survey results: How businesses in Ukraine are preparing for winter. The vast majority (88%) of 139 companies, operating in various sectors of the Ukrainian economy, that participated in the survey are prepared for long-term power outages. 33% can provide their own ene...

Friday, September 20

The EU will help Ukraine secure 4.5 GW of generation capacity and will provide an additional €160M to get through the winter.

The EU will help Ukraine secure 4.5 GW of generation capacity and will provide an additional €160M to get through the winter. The EU will help Ukraine repair 2.5 GW of capacity this winter and export 2 GW of electricity to Ukraine. With these actions, the EU will cover more than 25% of Ukraine’s energy needs for the co...

The European Parliament calls for an embargo on Russian LNG and sanctions against Gazprom.

The European Parliament calls for an embargo on Russian LNG and sanctions against Gazprom. The European Parliament called on the EU to introduce a full embargo on Russian liquefied natural gas and sanctions against Gazprom and Russian oil companies. The MEPs advocate adding to the sanctions...

The project to supply electricity from Polish TPPs to Ukraine is a non-starter.

The project to supply electricity from Polish TPPs to Ukraine is a non-starter. Poland’s electricity production project for Ukraine has not yet started to be implemented. In July, Polish Prime Minister Donald Tusk announced the possibility of producing electricity for Ukrai...

Ukrainian and Czech companies jointly launch a €75M wind farm, western Ukraine’s largest.

Ukrainian and Czech companies jointly launch a €75M wind farm, western Ukraine’s largest. Total investment in the Skoliv wind power plant, built in the mountainous area of the Lviv region with a 54.6 MW capacity, amounts to €75M. Ukrainian company Eko Optima and Czech MND implemented the...

Thursday, September 19

Companies financially confirm their intentions to build energy storage systems in Ukraine.

Companies financially confirm their intentions to build energy storage systems in Ukraine. As reported in Ukrenergo, 11 out of 13 winning companies in relevant auctions have deposited funds into escrow accounts. In this way, the companies financially guaranteed the construction of 99 MW of ...

Ukraine is increasing gas production and expects to get through the winter using domestic resources.

Ukraine is increasing gas production and expects to get through the winter using domestic resources. State companies Ukrgazvydobuvannya and Ukrnafta in January-August increased their production of commercial gas by 7.7% compared to the corresponding period last year – up to 9.8 billion cubic meters, ...

Ukraine’s electricity generation deficit this winter will be 4 GW.

Ukraine’s electricity generation deficit this winter will be 4 GW. Ukrainian power engineers will have their work cut out for them in December, considering that approximately 14-15 GW of generating capacity has been restored, which will leave the energy system with a...

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