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EU tables €300bn plan to ditch Russian fossil fuels, speed up green transition
The European Commission submitted on Wednesday (18 May) a €300 billion plan to eliminate Russian energy imports by 2027, although it admitted this would require short-term investments in new fossil fuel infrastructure to replace imports of Russian oil and gas.
read more... 20/05/2022
Daily (19.05.2022): Oil prices lost 2.5% as U.S. refiners ramp up output
Oil prices fell on Wednesday, after government data showed U.S. refiners ramped up output, while equities fell. Consequently, Brent crude dropped by 2.5% to $109.11 a barrel, and WTI crude oil fell by 2.5% to $109.59 a barrel.
read more... 19/05/2022
EU to map out escape route from Russian fossil fuels
The European Commission will on Wednesday unveil a 210 billion euro plan for how Europe can end its reliance on Russian fossil fuels by 2027, and use the pivot away from Moscow to quicken its shift to green energy.
read more... 19/05/2022
Four countries pledge tenfold rise in EU offshore wind power capacity
Germany, Belgium, the Netherlands and Denmark on Wednesday pledged to build at least 150 gigawatts (GW) of offshore wind capacity in the North Sea by 2050 to create a "green power plant"for Europe.
read more... 19/05/2022
EU lawmakers vote for more ambitious carbon market overhaul
Lawmakers on the European Parliament's environment committee voted on Tuesday for a more ambitious overhaul of the EU carbon market than previously proposed, as they prepare to negotiate reforms to the bloc's core emissions-cutting policy.
read more... 19/05/2022