Energy

US and UK Impose Sanctions on Serbia’s Oil Industry

December 19, 2024

US and UK Impose Sanctions on Serbia’s Oil Industry

The United States and United Kingdom are preparing to impose sanctions on Serbia’s Oil Industry of Serbia (NIS), citing its Russian ownership. The sanctions would block the country’s oil supply through the JANAF pipeline, which is Serbia’s main source of crude oil.

UK Energy Firms to Invest £77bn to Upgrade Electricity Grid

December 18, 2024

Min

UK Energy Firms to Invest £77bn to Upgrade Electricity Grid

National Grid, SSE, and ScottishPower have proposed plans to invest £77 billion over five years (2026-2031) to modernize Great Britain’s electricity grid. The upgrades aim to support the shift from fossil fuels to renewable energy, enhance grid capacity, and create about 100,000 jobs.

Norway Considers Cutting Energy Links to Europe

December 15, 2024

Min

Norway Considers Cutting Energy Links to Europe

Norway’s government is debating severing energy ties with Europe, citing outrageously high domestic electricity prices. The ruling parties have announced plans to oppose renewing power interconnectors with Denmark and are considering renegotiating similar agreements with the UK and Germany.

Shell Wins Bid for Oil and Gas Exploration in Bulgaria’s Black Sea

December 13, 2024

Min

Shell Wins Bid for Oil and Gas Exploration in Bulgaria’s Black Sea

Shell Exploration and Production, a subsidiary of Shell plc, has secured the rights to explore for oil and natural gas in Bulgaria’s Black Sea territory. The project, spanning over 4,000 square kilometers, is seen as a critical step toward enhancing Bulgaria’s energy independence.

Equinor, BP, and TotalEnergies Commit to Major Carbon Capture Projects in the UK

December 11, 2024

Min

Equinor, BP, and TotalEnergies Commit to Major Carbon Capture Projects in the UK

Norway's Equinor, alongside BP and TotalEnergies, has finalized investment plans for two of the UK's first carbon capture and storage (CCS) projects in northern England. These initiatives aim to permanently store millions of tonnes of CO₂ annually, marking a significant step toward Britain’s net-zero targets.

Shell and Equinor Announce Major North Sea Oil and Gas Joint Venture

December 5, 2024

Min

Shell and Equinor Announce Major North Sea Oil and Gas Joint Venture

Shell and Equinor have revealed plans to form the North Sea's largest oil and gas producer by merging their UK North Sea assets into a new Aberdeen-based company. The joint venture, which requires regulatory approval, will combine key offshore fields, exploration licenses, and operational expertise, with both companies retaining a 50-50 stake. Shell assured no job losses and emphasized the move's potential to enhance the longevity of the UK oil and gas industry.

Qatar Commits £1bn to Climate Technology in the UK

December 4, 2024

Min

Qatar Commits £1bn to Climate Technology in the UK

Qatar has announced a £1 billion investment in climate technology in the United Kingdom during a state visit by Emir Sheikh Tamim bin Hamad Al Thani. The partnership will focus on green technology hubs, energy efficiency, and carbon reduction, with Rolls-Royce among the key beneficiaries.

Serbia Implements Sweeping Changes to Energy Law to Align with EU Standards

December 2, 2024

Min

Serbia Implements Sweeping Changes to Energy Law to Align with EU Standards

The Serbian National Assembly has adopted significant changes to the Law on Energy, introducing dynamic tariffs, active buyer status, auxiliary services markets, and lifting the ban on nuclear power plant construction. The reforms hope to align Serbia with European energy regulations, promote decarbonization, and prepare for future energy market challenges, including CO2 taxation.