Saturday, 22 February 2025

Focus on G7

FILE PHOTO: European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019. REUTERS/Yves Herman/File Photo
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Six EU countries call for lowering of G7 price cap on Russian oil

EU nations urge lowering the $60 Russian oil cap to cut war funds, aiming for peace without market shock.

FILE PHOTO: A model of a pump jack is seen in front of the displayed sign "stop",  U.S. and Russia flag colours in this illustration taken March 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
BusinessEconomyMaritimeNewsOilPoliticsRegulationsTrade

Russia faces higher costs on sea-borne oil exports due to new US sanctions

US sanctions targeting Russia's shadow fleet and oil trade complicate Moscow's exports, raising global oil prices by six per cent.

Russia's Gazprom Neft was one of the companies targeted by the US Treasury Department's sanctions (AFP)
BusinessNatural GasNewsOilPoliticsRegulationsTrade

US, UK unveil widespread sanctions against Russia’s energy sector

US and UK sanction Russia’s energy giants, including Gazprom Neft, just days before Joe Biden’s term ends.

Turbines like these off the coast of Wales are expected to help wind power become Britain's largest source of electricity in 2025 (AFP)
ClimateCoalEconomyElectricityEmissionsEnvironmentNatural GasNewsNuclear PowerOilRegulationsResiliencySolarUtilitiesWind

UK, Germany electricity cleanest on record in 2024

Renewable energy like wind and solar accounted for 59 per cent of production in Germany, while in Britain it stood at 45 per...

Prime Minister Justin Trudeau holds a press conference at the G7 Summit in Savelletri Di Fasano, Italy, Saturday, June 15, 2024. THE CANADIAN PRESS/Sean Kilpatrick
News

Canada set to preside over G7 in 2025 — what that means and what’s at stake

Canada will advance "common priorities" including fighting climate changes and managing new technologies.

FuelNewsOilPoliticsTrade

Kremlin says any new G7 oil sanctions would backfire and it will adapt

G7 countries are exploring options to toughen the price cap on Russian oil.

Resource-poor Japan 'will aim to maximise the use of renewable energy' (AFP)
ClimateEconomyElectricityEmissionsEnvironmentIndustryInfrastructureNewsNuclear PowerPoliticsRegulationsSolarWind

Japan to make renewables top power source by 2040

Japan aims for renewables to supply 40-50 per cent of its electricity by 2040, reducing reliance on coal and gas while boosting nuclear...

FILE PHOTO: A view shows a Bank of Canada building in Ottawa, Ontario, Canada December 11, 2024. REUTERS/Blair Gable/File Photo
BusinessEconomyNewsPolitics

Bank of Canada: world is now more prone to shocks than we’d like

Deglobalization, demographic shifts, digitalization and decarbonization all affecting jobs, growth and inflation: Bank of Canada governor

da is aiming to cut its emissions in half by 2035 compared to 2005 levels, a newly released benchmark lower than its advisory body recommended.Environment and Climate Change Minister Steven Guilbeault rises during Question Period in the House of Commons on Parliament Hill in Ottawa on Thursday, Dec. 5, 2024. THE CANADIAN PRESS/ Patrick Doyle
ClimateEmissionsNewsPolitics

Canada says it wants to slash its emissions in half by 2035. Will that be enough?

Canada aims to cut emissions by 45-50 per cent by 2035, lower than the 50-55 per cent recommended, amid concerns over U.S. policy...

FILE PHOTO: A general view of the liquefied natural gas plant operated by Sakhalin Energy at Prigorodnoye on the Pacific island of Sakhalin, Russia July 15, 2021. Picture taken July 15, 2021.  REUTERS/Vladimir Soldatkin/File Photo
AnalysisBusinessEconomyLiquefied Natural GasPoliticsTrade

Analysis: Rival LNG supplies, Sakhalin’s depleting fields give Japan an exit from Russian gas

Japan eyes LNG shift as Sakhalin-2 deals near expiry, balancing energy security, geopolitics, and the push for renewables.

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