Energy

Wednesday, November 15

The conference on the restoration of Ukraine’s energy system has started in Warsaw, and the first agreement has been signed with the Swedes.

The conference on the restoration of Ukraine’s energy system has started in Warsaw, and the first agreement has been signed with the Swedes. On the initiative of the Ministry of Energy of Ukraine, the international conference Energy for the Recovery of Ukraine is being held in Warsaw on November 14-15. Representatives of more than 500 comp...

Thursday, November 9

The new price caps on the electricity market will make it profitable to import electricity in the winter, but to unify the energy grid with the European one, they must be canceled and prices equalized.

The new price caps on the electricity market will make it profitable to import electricity in the winter, but to unify the energy grid with the European one, they must be canceled and prices equalized. The National Commission for Regulation in the Energy and Utilities Sectors has declared the need to abolish price restrictions on the electricity market (price caps) in 2024. As Forbes reminds its rea...

Wednesday, November 8

Russia uses Western sanctions to obtain excess profits from the sale of oil.

Russia uses Western sanctions to obtain excess profits from the sale of oil. Tax revenues from oil and gas to the Russian budget in October increased by more than 100% compared to September and more than 25% compared to October last year, reported the WSJ. This is a sharp turn...

Thursday, November 2

European energy companies are actively using Ukrainian underground gas storage.

European energy companies are actively using Ukrainian underground gas storage. Gas reserves in the EU are approaching their storage limits, which forces energy companies to place their excess reserves in Ukraine on winter’s eve. EU gas storage is already almost 99% full, e...

Wednesday, November 1

A new wind power plant will be built in the Poltava region.

A new wind power plant will be built in the Poltava region. DTEK Renewables has started pre-design works for the Poltavska Wind Power Plant (WPP), which will be in the Hlobyne town community in the Poltava region. The company noted that they continue to streng...

Thursday, October 26

The EU is seeking to sever energy ties with Russia permanently.

The EU is seeking to sever energy ties with Russia permanently. The EU will eliminate Europe’s dependence on Russian fossil fuels during this decade, writes The Guardian. It is noted that the EU expects Russian gas imports to fall to 40-45 billion cubic mete...

Tuesday, October 24

The first delivery of coal from Poland arrives in Ukraine.

The first delivery of coal from Poland arrives in Ukraine. DTEK Energy has imported 40,000 tons of coal from Poland for the heating season and plans to import another 170,000 tons. At the same time, DTEK Energy CEO Ildar Saleyev emphasized that Ukrainian mine...

The energy gap between Europe and Russia is growing. Qatar has signed its third gas supply contract with the EU, and Kazakhstan is negotiating a new oil route.

The energy gap between Europe and Russia is growing. Qatar has signed its third gas supply contract with the EU, and Kazakhstan is negotiating a new oil route. After TotalEnergies and Shell agreed to buy LNG from Qatar, Italian energy company Eni agreed to a 27-year contract with QatarEnergy. The agreement is for one million tons of liquefied gas per year, w...

Monday, October 23

Players of the Ukrainian electricity market have accumulated more than ₴60B in debt.

Players of the Ukrainian electricity market have accumulated more than ₴60B in debt. The total debt between various energy market participants exceeds ₴60B, said the Chairman of the Board of Ukrenergo, Volodymyr Kudrytskyi. “Market participants owe us for electricity transmissio...

Friday, October 20

The IFC will help Ukraine attract investment to develop energy storage systems.

The IFC will help Ukraine attract investment to develop energy storage systems. The Ministry of Energy and the International Finance Corporation (IFC) discussed the implementation of an energy storage project, which had been planned before the Russian invasion. Considering the mi...

Russian oil still finds its way to Germany, while the country seeks to replace Russian gas with Ukrainian biomethane.

Russian oil still finds its way to Germany, while the country seeks to replace Russian gas with Ukrainian biomethane. Following the attack on Ukraine, EU oil operations with Russia were prohibited. However, according to Süddeutsche Zeitung, although Russian oil can no longer be imported into Germany, the country̵...

Thursday, October 19

Europe will expand opportunities to export electricity to Ukraine on the eve of winter, while the EU has decided to reform the electricity market.

Europe will expand opportunities to export electricity to Ukraine on the eve of winter, while the EU has decided to reform the electricity market. ENTSO-E will increase the capacity of interstate crossings between Ukraine and EU countries in November to ensure the balancing of the energy system in case of hostile attacks, explained the European ...

On winter’s eve, the European Commission will support Ukraine’s energy sector with a €50M+ grant.

On winter’s eve, the European Commission will support Ukraine’s energy sector with a €50M+ grant. The European Commissioner for Energy, Kadri Simson, announced a grant contribution of more than €50M from the European Commission to the Energy Support Fund of Ukraine, the Ukraine Ministry of Energy ...

Ukrainian gas and oil production companies are working to ensure Ukraine’s energy independence.

Ukrainian gas and oil production companies are working to ensure Ukraine’s energy independence. State company Ukrgazvydobuvannya plans to increase gas production from new wells to one billion cubic meters in 2023, director of exploration and company development Maksym Vityk said. “We manag...

Wednesday, October 18

Ukraine and the UN estimate the Kakhovka HPP damage at $14B.

Ukraine and the UN estimate the Kakhovka HPP damage at $14B. The Post Disaster Needs Assessment (PDNA) report on the Kakhovka Dam Disaster estimates $2.79B in direct damage to infrastructure and assets and over $11B in total losses. It is emphasized that the lo...

Tuesday, October 17

The EU and Moldova have pumped three billion cubic meters of gas into Ukraine’s storage.

The EU and Moldova have pumped three billion cubic meters of gas into Ukraine’s storage. The GTS Operator transported this volume of gas to Ukraine from April to October of the current year. Out of the gas transported, 2.4 billion cubic meters of the gas in storage is owned by foreign com...

What foreign companies need in order to invest in Ukrainian hydrocarbon production.

What foreign companies need in order to invest in Ukrainian hydrocarbon production. According to the owner of Alfa Gas, Oleksandr Katsuba, Italian, British, and Middle Eastern companies are interested in the Ukrainian oil and gas market. However, investors expect predictability in th...

The state’s debt to green energy producers has increased to ₴30B.

The state’s debt to green energy producers has increased to ₴30B. State-owned Ukrenergo’s debt to renewable energy producers under the green tariff has reached ₴29.9B ($820M), reported the Guaranteed Buyer. As of August 1, the company’s debt to the Guaranteed ...

Thursday, October 12

As EU gas prices rise again, the IEA predicts a demand decline for blue fuel until 2026.

As EU gas prices rise again, the IEA predicts a demand decline for blue fuel until 2026. The spot price of gas in Europe on Tuesday exceeded the mark of $500 per thousand cubic meters for the first time since the beginning of April. The day-ahead contract on the TTF platform in the Nether...

A Ukrainian private energy company is building power plants in the EU.

A Ukrainian private energy company is building power plants in the EU. DTEK Group Holding plans to complete the construction of the Ruginoasa wind farm in Romania by the end of the year, which is the first project by DTEK Renewables in Europe. Also, the company has large...

Tuesday, October 10

A Ukrainian oil and gas company is seeking investors to develop 21 fields.

A Ukrainian oil and gas company is seeking investors to develop 21 fields. Ukrainian state oil and gas extracting company Ukrnafta is looking for partners for 10 fields in the west of Ukraine and 11 in the east. The company emphasizes that these are studied deposits with suf...

Moscow still receives huge revenues from energy exports, despite restrictions from the West.

Moscow still receives huge revenues from energy exports, despite restrictions from the West. Russia is still selling its oil at much higher prices than the $60 per barrel mandated by the G7 countries due to strong demand from China and India, Politico writes. It is noted that the West’s...

Friday, October 6

If Europe invests €2T in RES, it could become energy self-sufficient.

If Europe invests €2T in RES, it could become energy self-sufficient. By investing in solar, wind, and other renewable sources, Europe could abandon fossil fuels and create a self-sustaining energy sector by 2040. To achieve this goal, the continent will need an annual ...

Thursday, October 5

Ukraine is increasing biomethane production and exporting bioethanol to the EU.

Ukraine is increasing biomethane production and exporting bioethanol to the EU. The production of biomethane, bioethanol, and biodiesel is important for the agricultural sector and processing industry, and for ensuring Ukraine’s energy independence, Deputy Minister of Agrar...

Ukrenergo seeks up to a $200M loan from the EBRD to pay its debts to RES producers.

Ukrenergo seeks up to a $200M loan from the EBRD to pay its debts to RES producers. According to the chairman of the Ukrainian Renewable Energy Association board, Stanislav Ignatyev, there are debts between state-owned energy enterprises. In particular, the system operator Ukrenergo ...

Wednesday, October 4

Ukraine has increased its export of electricity to record levels.

Ukraine has increased its export of electricity to record levels. According to analysis from the DiXi Group for September, despite Russian attacks on the Ukrainian energy system with missiles and drones, Ukraine set a 2023 record for the export of electricity –...

Friday, September 29

Ukraine has launched five more wells and increased the number of foreign gas contracts to 130.

Ukraine has launched five more wells and increased the number of foreign gas contracts to 130. State extraction company Ukrgazvydobuvannya launched new wells with 500,000 cubic meters of additional daily gas production. According to the company, one well is new, and another four were drilled in...

Thursday, September 28

Ukraine has implemented multiple measures to protect energy facilities from missile strikes,

Ukraine has implemented multiple measures to protect energy facilities from missile strikes, said Prime Minister Denys Shmyhal at the Future of Ukrainian Energy forum. “Ukraine today has a significantly greater number of and more powerful air defense systems. Our air defense has become ...

The IFC has invested $400M in Ukraine’s economy since the beginning of the war and is considering investments in the energy sector.

The IFC has invested $400M in Ukraine’s economy since the beginning of the war and is considering investments in the energy sector. The International Finance Corporation (IFC) has invested $400M into the Ukrainian private sector since the start of the full-scale war, said Olena Voloshina, head of the IFC in Ukraine. According to h...

Wednesday, September 27

With the expansion of RES, achieving zero emissions by 2050 is possible.

With the expansion of RES, achieving zero emissions by 2050 is possible. According to an IEA report, the current global situation calls for increasing renewable energy capacity to 11,000 gigawatts by 2030 and increasing global investment in clean energy from about $1.8T in...

The largest chicken exporter in Ukraine will receive up to $30M in financing from the IFC to expand the capacity of its biomethane production plant.

The largest chicken exporter in Ukraine will receive up to $30M in financing from the IFC to expand the capacity of its biomethane production plant. The International Finance Corporation (IFC) will resume cooperation with the MHP agricultural holding, the largest chicken producer in Ukraine, and provide a loan to its daughter company, the Vinnytsi...

Tuesday, September 26

The US will provide $522M for Ukraine energy projects, but there are conditions.

The US will provide $522M for Ukraine energy projects, but there are conditions. These funds are intended for the restoration of damaged infrastructure, strengthening the stability of the power system and its protection against air attacks, establishing distributed gas and green e...

The EU has no alternatives to replace the 8% of its gas that is received from Russia.

The EU has no alternatives to replace the 8% of its gas that is received from Russia. According to European Commissioner Kadri Simson, if consumption is reduced the EU will save another 65 billion cubic meters by March 2024, but it will not be possible to reduce gas consumption by anot...

Ukraine is preparing to unify its electricity market with the EU.

Ukraine is preparing to unify its electricity market with the EU. The Ukraine market operator has developed a draft law to unify the electricity markets of Ukraine and the EU, said the company’s general director, Oleksandr Gavva. The main goal is to increase t...

Russia is successfully bypassing the G7 oil price cap and boosting its export revenues.

Russia is successfully bypassing the G7 oil price cap and boosting its export revenues. In August, almost 75% of all seaborne oil shipments from Russia were carried out without Western insurance, compared to about 50% this spring. The rise means Russia is increasingly adapting to circumv...

Friday, September 22

Ukraine can continue gas transit from Russia if European countries need it.

Ukraine can continue gas transit from Russia if European countries need it. According to the chairman, Oleksiy Chernyshov, Naftogaz is losing money with the current agreements, as Russia transports much less gas than it should do according to its contractual obligations. R...

Thursday, September 21

Ukraine’s wind generation potential is 140 GW.

Ukraine’s wind generation potential is 140 GW. International companies are interested in investing in the industry’s development, said Minister of Energy German Galushchenko. He noted that Ukraine lost about 80% of wind generation capacity b...

Monday, September 18

Ukraine began exporting mined uranium to Canada.

Ukraine began exporting mined uranium to Canada. According to the state company Energoatom, Ukrainian uranium will be used to produce nuclear fuel for the needs of domestic nuclear power plants at Cameco facilities in Canada. It is noted that the ag...

Friday, September 15

Gas production indicators in Ukraine are approaching pre-war levels.

Gas production indicators in Ukraine are approaching pre-war levels. State-owned Ukrgazvydobuvannya increased gas production to 36.6 million cubic meters per day in August, the Naftogaz press service reported. However, this is still less than before the start of full-s...

Thursday, September 14

Ukraine spent $2.3B on the restoration and protection of its energy facilities.

Ukraine spent $2.3B on the restoration and protection of its energy facilities. As Prime Minister Denys Shmyhal reported, the financing of preparations for the winter period took place both with Ukrainian funds and with help from international partners, including the World Bank, ...

The world is facing its largest oil deficit in 15 years.

The world is facing its largest oil deficit in 15 years. According to Bloomberg, a week ago the price of Brent oil exceeded $90 per barrel following Saudi Arabia’s decision to extend the production limit of one million barrels per day until the end of...

Russia’s income from oil sales has increased to its highest point since October 2022.

Russia’s income from oil sales has increased to its highest point since October 2022. According to the International Energy Agency (IEA), in August 2023 Russia’s revenues from oil exports increased by $1.8B to $17.1B due to an increase in oil prices, which more than compensated f...

Wednesday, September 13

Germany has increased the import of Russian oil through India by 1,100%.

Germany has increased the import of Russian oil through India by 1,100%. As Spiegel writes, against the backdrop of massive anti-Russian sanctions, Germany imports large volumes of Russian oil through India. Germany mainly imports oil from India, which is used to produce d...

Ukraine has reached agreement on electricity export-import rules with three countries.

Ukraine has reached agreement on electricity export-import rules with three countries. The National Commission for the Energy Market and Communal Services agreed on the specifics for the distribution of interstate crossing capacity between Ukraine and Poland, Ukraine and Slovakia, as we...

Wednesday, September 6

The SCM Group has increased its investment in Ukraine by a quarter over six months, to UAH 12.7B.

The SCM Group has increased its investment in Ukraine by a quarter over six months, to UAH 12.7B. According to the company, the investments are designed to ensure Ukraine’s energy independence that is sufficient to provide for a stable winter heating period, restore and develop key enterpris...

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...

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