EU | GUPC

UK Joins EU in Lowering Price Cap on Russian Oil

Oil & Gas‚ Oil and Gas Industry | intent | July 21, 2025 | Comment off

EU states earlier approved a fresh sanctions package on Russia that included new banking restrictions and curbs on fuels made from the nation’s petroleum. The package – the bloc’s 18th since Moscow’s full-scale invasion of Ukraine – will also cut off 20 more Russian banks from the international payments system SWIFT and impose restrictions on Russian petroleum refined in other countries. A large oil refinery in India, part-owned by Russia’s state-run oil company, Rosneft PJSC, was also blacklisted.

EU Slaps New Sanctions on Russia and Its Oil Trade

Oil & Gas‚ Oil and Gas Industry | intent | July 18, 2025 | Comment off

The EU’s move to restrict fuels such as diesel made from Russian crude could have some market impact, as Europe imports the fuel from India, which in turn buys large amounts of Russian crude. Diesel markets have been showing signs of tightness for several weeks, and prices strengthened in early European trading relative to crude.

EU Faces 250-Billion Euro Gap in Grid Investment Plans

Oil & Gas‚ Oil and Gas Industry | intent | July 10, 2025 | Comment off

“Without new approaches to financing and capital efficiency, TSOs may fall short of delivering the infrastructure needed to meet Europe’s climate and reliability goals,” the company said, identifying three problematic areas. These are, first, limitations to TSOs capacity to raise money via debt or equity; second, a tension between efforts to keep electricity costs low for consumers while ensuring a certain level of returns to investors in grid operators; and third, different expectations of these grid operators from governments, on the one hand, and investors, on the other.

US Overtakes Russia as EU No2 Gas Source

Oil & Gas‚ Oil and Gas Industry | intent | July 7, 2025 | Comment off

The 27-member bloc imported a total of 69 billion cubic meters (2.44 trillion cubic feet) of gas in the January-March period, down two percent quarter-on-quarter and year-on-year. Pipeline gas accounted for 55 percent or 38 Bcm while liquefied natural gas (LNG) contributed 45 percent or 31 Bcm, according to the Commission’s latest quarterly gas market report.

EU Set to Change Subsidy Rules for Energy Costs

Oil & Gas‚ Oil and Gas Industry | intent | June 25, 2025 | Comment off

“If Germany sinks, we all go with them,” one corporate lobbyist told Politico, pretty much summarizing the prevailing sentiment across the EU about its biggest economy, which has been teetering on the brink of recession, in large part because of high energy costs after it gave up cheap Russian pipeline gas and shut down its last operating nuclear reactors while doubling down on wind and solar—which are heavily subsidised.

Oil and Gas Companies Lobby to Weaken EU Methane Regulation

Oil & Gas‚ Oil and Gas Industry | intent | June 13, 2025 | Comment off

The oil and gas industry is pushing back against the methane policy adopted recently by the European Union aimed at limiting emissions of the potent greenhouse gas.

EU Proposes Nord Stream Ban, Lower Oil Cap to Hit Russia

Oil & Gas‚ Oil and Gas Industry | intent | June 11, 2025 | Comment off

Lowering a Group of Seven-sponsored oil-price cap to $45 will require backing from the US. The price threshold, which bans G-7 service providers from transporting and dealing with crude sold above the cap, is currently set at $60. G-7 leaders will discuss the issue when they meet in Canada later this month, von der Leyen said.

Russian LNG Exports Dip Amid Sanctions and EU Clampdown

Oil & Gas‚ Oil and Gas Industry | intent | June 4, 2025 | Comment off

Liquefied natural gas (LNG) exports out of Russia fell by 3% in January through May from a year earlier, amid tighter EU restrictions on transshipment and U.S. sanctions on a new LNG project that can’t find buyers yet.
Russia’s LNG shipments dipped by 3% year-over-year to 13.2 million tons in the first five months of the year, Reuters reports, citing preliminary data from LSEG.

EU Issues Obligatory CO2 Storage Capacities for Top Oil Producers

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Kurt Vandenberghe, the Commission’s director-general for climate action, commented, “Having extracted hydrocarbons and contributing to greenhouse gas emissions, it [the oil and gas industry] will now contribute to storing CO2 and help mitigate climate change. By combining their industrial know-how with faster permitting processes and robust financial support – including from the ETS-resourced Innovation Fund – we can make substantial progress in advancing industrial decarbonization and modernization in Europe”.

U.S. Resists EU Push to Lower Russian Oil Price Cap

Oil & Gas‚ Oil and Gas Industry | intent | May 23, 2025 | Comment off

A European official attending the G7 finance powwow in Banff, Canada, told Reuters that the U.S. Treasury team thinks market forces are already doing the heavy lifting. With Brent prices wobbling around $64—and Russia’s Urals blend clocking in at a $10 discount—Washington’s logic is that there’s no need to poke the bear when the bear’s already limping.

Tags