EU Commission to bring forward carbon market reform before 2021

21/05/2014 00:32

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The European Commission is open to hasten an anticipated 2021 start date for the initiation of controls to cut the massive overabundance of permits influencing the EU Emissions Trading System, as stated by the Commission’s major climate official.

According to Jos Delbeke, the Commission approved the institution of a so-called “market stability reserve” before time, a move backed by environment ministers from Germany, Britain, Denmark and Sweden. The Commission suggested in January a new method to diminish the excess of permits should be established when the scheme’s fourth trading phase is scheduled to start in 2021. The oversupply, which has generated a decline in EU carbon prices, had exceeded 2.1 billion units.

Daily (17.05.2019): Brent crude added 1.2% on Thursday, due to rising tensions in the Middle East

17/05/2019 09:37:00

Oil prices extended momentum on Thursday, on rising tensions in the Middle East, as Saudi Arabia responded to its recent attacks on its crude oil firm by launching air strikes on the Houthi-held capital Sanaa. Brent crude rose by 1.2% to $72.62 a barrel, while WTI Crude increased by 1.4% to $62.87 a barrel.

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Irish wind hit 37% high in Q1

17/05/2019 09:01:00

Wind’s share in Ireland’s electricity rose 2% to 37% in the first quarter of 2019, compared with the same period in 2018, according to the Irish Wind Energy Association (IWEA).

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Lukoil starts operations of two wells at D41 field in Baltic Sea

17/05/2019 08:51:00

LUKOIL has announced the commencement of commercial operation of two wells at D41 offshore field in the Baltic Sea.

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