The European Commission has proposed a new Automotive Package that aims to give carmakers greater flexibility in meeting emissions reduction requirements. The new rules would lower the emissions cut target from 100% to 90%, allowing the sale of hybrid and internal combustion vehicles after 2035. From 2035 onwards, carmakers will need to comply with a […]
Facing an imminent halt of the Gazprom-owned Serbian oil company NIS due to US sanctions, President Aleksandar Vučić met with EU leaders António Costa and Ursula von der Leyen in Brussels. “I don’t have such a strong fear regarding gas as I do about oil,” he revealed and said they spoke about the possibilities for […]
Hungary acknowledged that state-controlled oil and gas company MOL is in discussions aimed at exploring the possibility of acquiring a stake in NIS. Based in neighboring Serbia, the oil refiner and service station chain operator is under sanctions that the United States imposed on its owner, Russian Gazprom Neft. Gergely Gulyás, chief of staff of […]
The United Nations Climate Change Conference COP30 was concluded with a deal to keep the world’s ambitions similar, after modest progress on some issues. In a last-minute compromise between the delegates of the wealthy, the poor and the countries most in jeopardy, the declaration from the so-called COP of Truth contains no explicit reference to […]
Unless the rules are refined for the electricity sector, the Carbon Border Adjustment Mechanism (CBAM) risks undermining the European electricity market integration and security of supply, Brussels-based think tank Bruegel warned. Bruegel has analyzed the impacts of the application of CBAM, set for January 1, 2026. The tax will apply to steel, cement, iron, aluminium, fertilizers, […]
By 2040, Serbia intends to replace fuel oil and coal in district heating plants with solar, wood biomass, heat pumps, municipal waste and geothermal energy. Maja Vukadinović, acting Assistant Minister of Mining and Energy for Energy Efficiency and Climate Change, has said that the goal for the district heating sector is to phase out fuel […]
Romania wants to take control of Lukoil’s operations to prevent an imminent freeze from the sanctions imposed by the United States. Bulgaria is already putting the Russian company’s refinery, the largest in the Balkans, under a trusteeship. Serbia announced that similar measures have been proposed to exempt Gazprom-owned NIS and its refinery, the only one […]
Carbon capture and storage projects worth as much as EUR 3.6 billion are under development in Greece. Energean’s subsidiary EnEarth has launched a tender for drilling two wells for the Prinos site under the Aegean Sea, while DESFA won a EUR 169 million EU grant for a carbon dioxide liquefaction unit. Investors in Greece are […]
The United States Department of the Treasury said it wouldn’t allow Gunvor to “operate and profit,” calling it “the Kremlin’s puppet.” The energy trader responded that the statement is “fundamentally misinformed and false,” but it withdrew its proposal for Lukoil’s international assets. For a minute it seemed that a potential fuel crisis in Europe – […]
The European Union’s proposed measures to phase out imports of Russian oil and gas would destroy Hungary’s security of supply, according to Minister of Foreign Affairs and Trade Péter Szijjártó, who spoke at the meeting of energy ministers in Luxembourg. Slovakia is in a similar situation, while Romania pointed to the difficulty of proving the […]