Europe is speeding up its renewables transition. Despite concerns that Russia’s war in Ukraine might mean a return to more fossil fuels, most countries in the EU are laying out more ambitious plans to boost renewables. Nineteen of the EU’s 27 membe... #EUenergy #RenewableEnergy #renewablestransition #RES
OPEC wants to suspend the agreement with Russia and open doors for Saudi Arabia and UAE. Some OPEC members are exploring the possibility of suspending Russia’s participation in an oil-production deal while they are under Western sanctions. At the same time, a partial European ban has beg... #OilProduction #OPEC #SanctionsAgainstRussia
Ukraine is cooperating with the Energy Community to implement the fourth energy package. Together with the Ministry of Energy, the State Agency for Energy Efficiency has developed a questionnaire for the Energy Community, which will determine the necessary legislative changes to implement... #CleanEnergy #EnergyCommunity #EUenergy #RES #UkraineEnergy
The EU summit agreed on an oil embargo, but with exceptions. The European Union overcame the resistance of several skeptical states and made a political decision to impose an oil embargo on Russia. European Council President Charles Michel stressed that the dec... #CharlesMichel #EUsummit #OilEmbargo #RussianOilBan
Energoatom will purchase nuclear fuel from Westinghouse worth $50M. “Ukraine State Enterprise Energoatom has raised a UAH 1.5B ($50M) loan from Ukrgasbank to buy fuel from the US company Westinghouse in 2022. The company plans to use borrowed funds to increase the pur... #Energoatom #energyukraine #NuclearFuel #UkraineNuclearPower #WestingHouse
EU ambassadors have again failed to agree on the sixth package of sanctions against Russia. The permanent representatives of the EU members at Monday’s meeting again were not able to reach an agreement on the sixth package of sanctions against Russia. “The meeting of EU ambassad... #EUambassadors #EUsummit #RobertaMetsola #SanctionsAgainstRussia
President Zelenskyy, in the speech to EU leaders, asked for an agreement on the Russian oil ban. On May 30, Zelenskyy called on the EU to approve the sixth package of sanctions against Russia and stop depending on Russia in an address to the European Council. “Why do you depend on Russia and the... #EUmemberiship #EUsummit #RussianAgression #RussianOilSanctions #Zelenskyy
The Polish Prime Minister suggested a solution that could help bring an agreement on the Russian oil ban. As Hungary holds out against an EU Russian oil ban, Poland has proposed introducing a price equalization system in the European Union so its fellow EU members can no longer benefit from continuing to ... #EUsanctions #EUsanctionsPackage #MateuszMorawiecki #RussianOilBan
Poland wants Ukraine to join the International Energy Agency. Warsaw intends to invite Ukraine to join the International Energy Agency (IEA) at the organization’s next meeting in Paris, said Polish Minister of Climate and Environment Anna Moskva. “P... #AnnaMoskva #IEA #InternationalEnergyAgency.
The Kharkiv thermal power plant is shutting down due to high gas prices. Kharkiv TPP-5 is being forced to stop operations and preserve equipment in connection with the new gas prices set by Naftogaz Trading. The power plant cannot operate under the current pricing policy ... #energyukraine #Kharkivthermalpowerplant #KharkivTPP #KharkivTPPshutdown
The fuel prices in Ukraine should decrease with the gradual filling of the market. The current price of gasoline at 52-55 UAH / liter and diesel fuel at 58-60 UAH / liter is an equilibrium point for the market. However, with the gradual arrival of new volumes of petroleum products, ... #FuelPricesUkraine #SerhiyKuyun #UkraineFuelCrisis
The EU will remove the pipeline oil ban from the sixth package of sanctions. The European Union has proposed banning marine oil imports from Russia, but has postponed an embargo on pipeline oil to overcome a sanction blockade by a few countries, reported Bloomberg. The Europea... #EuropeanCommission #EUsanctions #RussianOilEmbargo #SanctionsAgainstRussia
The US has canceled tariffs on Ukrainian steel for one year. US President Joe Biden has signed a decree abolishing the 25% additional tariffs on Ukrainian steel imports for one year, announced the White House. “Considering the ongoing security discussions and ... #JoeBiden #steel #SteelExportUS #UkraineSteel
Naftogaz will create its own gas station network. Naftogaz will be a national operator in the gas station market to prevent high prices, said the CEO of Naftogaz, Yuriy Vitrenko. According to him, the state does not intend to monopolize this market. ... #Naftogaz #NaftogazGasstations #YuriyVitrenko
The Guaranteed Buyer has announced green energy auctions. Ukraine’s State Enterprise Guaranteed Buyer invites market participants to participate in auctions to sell green electricity on May 31 and June 1. Guaranteed Buyer announced “We invite all parti... #EnergyAuction #GreenENergy #GuaranteedBuyer #RESukraine #UkraineEnergy #UkrainianEnergyExchange
Russia is “weaponizing energy” amid the war in Ukraine. Russia’s invasion of Ukraine and the ensuing sanctions from the West have sent oil prices skyrocketing, lifting gasoline and diesel prices in the US to unprecedented levels, reported CNN. Natural gas... #EnergyAsWeapon #JenniferGranholm #RussianAgression #RussianEnergy
The President of the European Council is confident the Russian oil ban will be resolved by Monday. Charles Michel is confident that any issues over the proposed ban on Russian oil imports will be resolved by the next council meeting on May 30. Addressing a news conference alongside Swedish Prime M... #CharlesMichel #OilEmbargo #RussianAgression #RussianOilEmbargo
Oil prices have risen to $115 a barrel. Oil prices rose at the beginning of trading on Wednesday due to limited stocks and the prospect of growing demand in connection with the upcoming start of the summer driving season in the United Stat... #GlobalOilPrices #OilPrices #RussianAgression #WTI
The EBRD intends to invest $1B in Ukraine this year. The European Bank for Reconstruction and Development (EBRD) plans to invest $1B in 2022 and is ready to finance Naftogaz, said Bank President Odile Reno-Basso. “We want to continue investing, an... #ebrd #EBRDinvestments #Naftogaz #Ukrenergo
Poland calls on Germany to close Nord Stream 1 due to the Russian invasion. “Germany should close the Nord Stream 1 pipeline by the end of the year. Work should begin on the seventh package of sanctions against Russia for its armed aggression against Ukraine,” said the head ... #MateuszMorawiecki #NordStream1 #RussianENergyEMbargo
Croatia offers ports for the transportation of Ukrainian grain. Croatia’s Adriatic ports may provide an alternative route for transporting grain from Ukraine, whose Black Sea ports remain blocked, stated Secretary of the Ministry of Foreign Affairs of Croat... #AndrejaMetelkoZgombych #CroatiaPorts #CroatiaSeaPorts #Ukrainiangrain
Ukraine presented a plan for economic victory in Davos. At the opening of the World Economic Forum, the First Deputy Prime Minister of Ukraine, Yulia Svyrydenko, presented to its participants the plans that Ukraine needs to implement to win the war. Ukrain... #Davos #Davos2022 #worldeconomicforum #YuliyaSvyridenko
Britain will provide financial guarantees for the EBRD loan to Ukrenergo. The UK government will provide financial guarantees for the EBRD loan, which Ukrenergo will use to ensure the company’s stable operation in wartime, stated British Minister of Finance Rishi Suna... #ebrd #EBRDloan #Ukrenergo
Germany is ready to support the oil embargo against Russia without Hungary’s participation. German Economy Minister Robert Habeck is disappointed that the EU has not yet approved an oil embargo against Russia, reported Reuters. However, Habeck added that Germany was ready to renounce Hungary... #GermanyOilEmbargo #OilEmbargo #RobertHabeck #RussianAgression #RussianOilEmbargo
Ukraine has enough electricity from nuclear power plants. The total capacity of the power units from nuclear power plants connected to the power system provides the necessary amount of electricity for the country’s needs, announced Energoatom. As of Ma... #Energoatom #Energodar #NuclearPower #zaporizhzhiaNPP
The Baltic countries have stopped importing electricity from Russia. The Baltic states stopped importing electricity from Russia on May 22; this means the cessation of supplies of all Russian energy resources for Lithuania. After the Nord Pool operator stopped buying e... #BalticCountries #RussianElectricity #RussianENergyEMbargo
Ukraine’s fourth-largest steelmaker Zaporizhstal resumes production. Zaporizhstal continues to return locomotives to work from their mothballing as part of the restoration of their production process at the Zaporizhzhya Iron and Steel Works, reported Interfax-Ukraine. ... #steel #Zaporizhstal #ZaporizhzhyaIron
Ukraine will receive 25,000 tons of gasoline from Poland. Poland will provide Ukraine with 25,000 tons of gasoline to overcome its deficit, stated First Deputy Prime Minister Yulia Svyridenko. According to her, the reason for the fuel shortage is that befor... #GasolineFromPoland #PolandAid #PolandAidforUkraine #WarinUkraine
The European Union has a €300B plan to drop Russian fossil fuels. The EU Commission submitted a €300B plan to eliminate Russian energy imports by 2027, reported EuroActiv. However,, EU officials admitted, that this would require short-term investments in new fossil ... #BanRussianOil #EUsanctions #RussianAgression #RussianFossilFuelsBan #WarinUkraine
Naftogaz is discussing a gas loan with the EBRD. Ukraine’s national gas and oil company, Naftogaz of Ukraine, and the European Bank for Reconstruction and Development (EBRD) discussed the terms of obtaining a loan for the purchase of natural ... #ebrd #Naftogaz #NaftogazLoan #NaftogazUkraine
The G7 group might impose tariffs on Russian oil as an alternative to an embargo. Representatives of the US Treasury Department, at a meeting of G7 finance ministers, will propose that the EU introduce tariffs on Russian oil as a faster alternative to a direct oil embargo. The US ... #G7 #OilEmbargo #RussianOil #Sanctions
Ukraine can replace some of the Russian gas exports to the EU. The Ukraine Ministry of Energy estimates that the export of electricity from Ukraine can replace 17% of Russian gas supplies to the European Union, said Deputy Minister Mykola Kolisnyk. It is noted th... #GasEU #gasstorage #UkraineElectricity #UkraineEnergy
The Russian energy embargo agreement is coming in the next couple of days. European Union member states are still trying to resolve some outstanding issues but most likely will agree on a sixth sanctions package against Russia in the coming days, said German Foreign Ministe... #AnnalenaBaerbock #EUenergy #RussianENergyEMbargo #SanctionsAgainstRussia
Ukraine can import gas from foreign LNG terminals. It is now possible to import gas to Ukraine from LNG terminals in Greece, Croatia, Poland, and Lithuania, said General Director of GTS Ukraine Operator LLC Serhiy Makogon. He notes that the OGTSU dou... #LNG #LNGforUkraine #LNGgreece #LNGlithuania #LNGpoland #SerhiyMakogon
Fuel imports to Ukraine by truck have increased 15 times. Since the beginning of May, fuel imports over the road have increased 15 times and imports by river transport and rail by five times compared to March, reported Forbes Ukraine. Since the beginning of... #FuelForUkraine #FuelImports #GermanGalushchenko
Canada has abolished duties on hot-rolled products from Ukraine. During an official review of the tariffs on hot-rolled carbon and alloy steel sheets from Brazil, China, India, and Ukraine, introduced in 2001, officials refused to extend duties on 77% of goods fro... #CanadaDuties #hotrolledProducts #HotRolledSteel
Germany accuses Russia of using energy as a weapon. German Vice-Chancellor and Economy Minister Robert Habeck accused Russia on Thursday of using energy “as a weapon,” following an announcement by the Russian government on Wednesday to impo... #Germany #RobertHabeck #RussianAgression #RussianOil
It will cost the EU €195B to become independent from Russian energy, reported Spiegel.de. Brussels is expected to present a plan to provide the possibility to the EU to become energy-free from Russia as soon as the middle of next week. To this end, the commission wants... #EUEnergyindependence #OilSupplies #RussianAgression #RussianEnergy
Ukrenergo received UAH 2B of net income in the first quarter. In January-March 2022, the National Energy Company Ukrenergo received UAH 2B net income and paid almost UAH 500M in taxes to the state budget, announced the Chairman of the Board, Volodymyr Kudrytsky... #Ukrenergo #UkrenergoProfits #VolodymyrKudrytskyi
Germany will not accept gas through Nord Stream 2. The German government has rejected speculation that it may activate the Nord Stream 2 gas pipeline from Russia to Germany to compensate for gas flow reduction through Ukraine, stated the press secreta... #AnnikaEingorn #EUenergy #Germany #nordstream2 #RussianOilEmbargo
After the two-day drop, oil prices climb 6% on concerns about Russia. After two days of sharp losses, oil prices rose sharply Wednesday on renewed concerns about the flow of energy from Russia, reported CNN. US oil jumped 6.3% to $105.97 a barrel in recent trading. Bre... #BrentCrude #EUoil #GlobalOilPrices #OilPrices #USoil
The EBRD will allocate €50M to Ukrenergo for support liquidity. The European Bank for Reconstruction and Development (EBRD) and Ukrainian authorities have agreed on repurposing part of an existing loan to Ukrenergo, the country’s electricity transmission company, ... #ebrd #OdileRenaudBasso #Ukrenergo #WarinUkraine
Ukraine plans to increase fuel supplies through Poland. During the Polish-Ukrainian Energy Forum, Ukrainian and Polish government officials, and business representatives, worked out practical solutions to overcome the crisis in the fuel market of Ukraine,... #FuelSupplies #FuelSuppliesthroughPoland #PolandUkraine #YuliyaSvyridenko
Procrastination with the adoption of the sixth package of sanctions is unacceptable. Delay with adopting the sixth sanctions package is intolerable, and all arguments against introducing the proposed oil embargo mechanism are far-fetched, stated Foreign Minister Dmytro Kuleba. All t... #DmytroKuleba #EUenergy #EUsanctions #Hungary #RussianOilEmbargo #SanctionsAgainstRussia
The US has abolished 25% of the import duties on Ukrainian steel. The US Department of Commerce has announced the suspension of 232 customs tariffs on Ukrainian steel for one year. Some of Ukraine’s largest steel companies were most affected by Putin’s b... #SteelDuties #SteelExporttoUS #UkraineSteel #USduties
Ukraine has stopped the transit of one-third of gas to Europe due to war. Ukraine has been forced to suspend gas transit through its Luhansk stations since May 11, which lie in Russian-occupied territory, supplying a third of its gas to Europe, announced the uperator of th... #EUgasSupplies #GasTransit #GastransittoEU #WarinUkraine
The EBRD has downgraded Ukraine’s economic downturn in 2022 and improved its outlook for 2023. The European Bank for Reconstruction and Development (EBRD) has downgraded the forecast for Ukraine’s economic decline due to the war to 30%, while at the end of March, the forecast was minus 20... #ebrd #UkraineEconomy #UkraineEconomyForcast
Small and medium-sized businesses in Ukraine have lost $85B. Small and medium-sized enterprises (SMEs) have suffered direct losses of $64-85B in the 75 days since the war began, stated the Advanter Group. SMEs have a total funding need of $54B, with 87% of com... #doingbusinessinukraine #SmallBusinessUkraine #SME #UkraineBusiness
Japan will impose an oil embargo on Russia. After Sunday’s online meeting of G7 leaders, Japanese Prime Minister Fumio Kishida said that Japan would impose a ban on Russian crude imports as part of the G7’s decision to counter Russi... #FumioKishida #JapanOilEmbargo #OilEmbargo #RussianOil
Hungary keeps blocking the EU oil embargo. Hungary again blocked the approval of the sixth package of sanctions against Russia, which provided for the gradual introduction of an oil embargo on petroleum products. After the meeting of EU ambass... #EUOilEmbargo #Hungary #VictorOrban
