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Bulgarian government doubts it will collect gas taxes from Putin
The government has decided to withdraw the estimated revenue of €1.2 billion from the new tax on the transfer of Russian gas from the state budget 2024 because the ruling majority doubts that the money can be obtained, Finance Minister Asen Vasilev said on Sunday.
read more... 21/11/2023
EU extends state aid scheme for companies hit by rising energy prices
The European Commission on Monday (20 November) extended by six months to June 2024 a scheme enabling EU countries to help companies hit by energy price spikes caused by Russia’s war on Ukraine.
read more... 21/11/2023
Daily (20.11.2023): Oil prices rebounded on Friday as the market's current attention is on the upcoming OPEC meeting this week
On Friday, oil prices bounced back after experiencing a significant drop the day before. The market's current attention is on the upcoming OPEC+ meeting this week, where there is potential for intervention to counteract the downward trend in prices. As a result, both contracts climbed by over 4%. Brent crude settled at $80.61 per barrel, while WTI crude ended at $75.89 per barrel.
read more... 20/11/2023
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Brussels readies ‘trade instruments’ to protect EU’s struggling wind industry
The European Commission is considering using its “trade instruments” as the EU’s wind industry continues to struggle with fierce competition from China, high raw material prices, rising interest rates, and slow permit-granting processes.
read more... 20/11/2023
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National Grid Launches Massive $52 Billion Infrastructure Overhaul
National Grid has announced a wide range of policies and investments aimed at upgrading the U.K. and U.S. grid systems and tackling the backlog of energy projects waiting to be connected. While this is optimistic for the energy infrastructure of the two countries, climate activists are concerned that some of the moves may deter investment in renewable energy projects as the connectivity outlook remains uncertain. In addition, energy experts have repeatedly stated the enormous magnitude of the task of upgrading the U.K. and U.S. grid systems, with a multitude of challenges standing in the way of achieving the goal.
read more... 20/11/2023