M.Pompeo pledges $1 billion for EU energy projects to reduce Russia reliance

18/02/2020 08:53 Energy


U.S. Secretary of State Mike Pompeo said on February 15 at the Munich Security Conference that Washington pledged "up to $1 billion" to boost energy projects in eastern Europe as part of efforts to reduce reliance on Russian natural gas.

The U.S. has long worried that Europe is getting too much of its energy from Russia, which makes the continent economically dependent upon Moscow. In a bid to hamstring the process, Washington has sought to use sanctions to prevent completion of the Nord Stream 2 project, which would bring gas from Russia to Germany.


During a visit to Belarus on February 1, Pompeo said that American producers were ready to provide Belarus with oil at 100% competitive prices. “The U.S. wants to help Belarus create its sovereign state and our energy producers are ready to cover 100% of your oil needs at competitive prices. We are the largest energy producer in the world, and all you need to do is tell us and address us,” he said after talks with the Belarusian President A.Lukashenko.

Source: neftegaz.ru

Hungarian minister highlights importance of nuclear energy

03/04/2020 10:37:00

The coronavirus pandemic has underlined the importance of the existing Paks nuclear power plant, which accounts for about half of Hungary's electricity generation, noted János Süli. The minister responsible for the design, construction and commissioning of two new reactors at Paks said that project will maintain the country's energy security and help revive its economy in the coming years.


Wind, solar secure 1.4GW in latest French tenders

03/04/2020 10:33:00

The French Ministry for the Ecological and Inclusive Transition has procured approximately 750MW of wind and 630MW of ground-mounted photovoltaic capacity in its latest round of tenders.


Daily (03.04.2020): Brent and WTI surged by 21% and 25% respectively on Thursday as Trump signalled the price war might end soon

03/04/2020 10:24:00

Crude oil futures increased considerably on Thursday, posting their biggest spike in a single session following a message from Donald Trump promising a reduction in Russian and Saudi production to rebalance the black gold market devastated by the covid-19 pandemic. At the same time, Saudi Arabia called for an urgent meeting of the OPEC and other countries, including Russia, to re-establish a balance in the oil markets.