Tankers believed to be at heart of illicit operation transporting gas and oil to fund Moscowโs war effortThe UK has taken new steps to clamp down on Russiaโs shadow fleet exporting oil and funding Moscowโs war machine, with the Foreign Office announcin…
Ghana is piloting a system that traces cocoa beans from farm to port as it gears up for a new EU law banning the import of commodities linked to deforestation, a government official said on Thursday (5 September).
And Turkish stocksโ wild ride
Critics say Labour โshould have run a mileโ from LetterOne after it is acquires 15% of Aberdeen-based Harbour EnergyThe government faces growing criticism after a company backed by two sanctioned Russian oligarchs was allowed to become a part-owner of …
Battle ahead for Labour as it introduces higher taxes and tougher environmental rules on producersBusiness live โ latest updatesUK politics live โ latest updatesAn oil and gas company has slowed down work on a large North Sea oilfield, citing uncertain…
Trading software companies fear project will make Brussels a major competitor and believe tender misconceived
Reduction of about a fifth of workforce in two subdivisions part of plan to slash up to $3bn in costs by end of 2025Shell is to cut hundreds of jobs from its oil and gas exploration operation in the latest move by the chief executive, Wael Sawan, to sl…
Spokesperson for Volodymyr Zelenskiy denies WSJ claims and again accuses Russia of carrying out the sabotageRussia-Ukraine war โ latest news updatesThe Nord Stream gas pipeline was blown up by a small Ukrainian sabotage team in an operation that was in…
Blame the underwater drones.
Both Trump and Biden are pushing lucrative U.S. fossil fuel deals โย a risky bet given the EU’s plans to wean itself off the energy source.
Ukraineโs president will ask for more help to block Putinโs growing โshadow fleetโ of tankers carrying sanctioned crude to buyersThe Ukrainian president, Volodmyr Zelenskiy, will attend an extraordinary meeting of the British cabinet on Friday to bring…
“Sorry to have survived, but I am back,” Slovak prime minister tells media and opposition.
Oil firmโs warning comes after it had to halt work on Europeโs largest biofuel project and sell refinery in AsiaShell has warned investors that it will take an impairment charge of up to $2bn (ยฃ1.6bn) in its next set of results after it was forced to h…
The Commission has announced on Monday (1 July) that the two commodities will no longer be exempted from duties and quotas as of Tuesday (2 July), as they exceeded the cap fixed in the regulation on trade benefits for Ukraine.
The EU is expected to further reduce its imports of key food commodities from war-torn Ukraine after less than two weeks since applying the new controversial preferential trade scheme.
Third parties could be required to do more to block tankers from operating in Baltic and the ChannelRussia-Ukraine war โ latest news updatesBritain and Finland are discussing plans to require third parties to do more to block the Russian shadow oil tan…
Petition by 49 employees could lead to Holy See being taken to court for โundermining dignity and healthโForty-nine employees at the Vatican Museums have started an unprecedented legal dispute over job conditions and workplace safety, which could lead …
ยฃ5.5bn loss in 2023 comes after gas sales more than halved following Russiaโs invasion of UkraineThe Kremlin-owned gas company Gazprom has plunged to its first annual loss in more than 20 years, after gas sales more than halved following Vladimir Putin…
As cocoa prices surge to record highs and Central and West African growers grapple with the impact of climate change, the cocoa sector is rushing to adapt its production to the EU anti-deforestation regulation (EUDR), which will take effect from Januar…
Europe is complicit in the destruction of ecosystems and should regulate its funding of companies associated with deforestation.
Countries now have abundant gas supplies but years of high costs led to a pervasive economic slowdownEurope is leaving behind the winter months with gas storage facilities brimming at all-time highs. This abundance of gas has allowed wholesale market p…
Increasing exports to the EU are a lifeline for Turkey, but analysts fear it could be the Kremlin cashing in.
EU countries’ bickering over whether to grant Ukraine’s farm production another year of access to their markets could well be a taste of whatโs to come if Kyiv becomes the bloc’s 28th member.
Traders, manufacturers and retailers are all blaming each other for record prices.
The European Commission proposed to increase tariffs on Russian and Belarusian grains and oilseeds imports to prevent the destabilisation of the EU market, the funding of Russian aggression against Ukraine and to try to defuse the protests on the Ukrai…
Lawmakers clinched a political deal on year long renewal of a free trade scheme with Ukraine adding โemergency brakesโ for sensitive agricultural commodities in the aftermath of farmersโ protests.
UK, Germany, Netherlands, Norway and Denmark have failed to align oil and gas policies with Paris pledges, say campaignersNone of the big oil and gas producers surrounding the North Sea plan to stop drilling soon enough to meet the 1.5C (2.7F) global h…
EU negotiators reached a deal on Tuesday morning (5 March) on a new regulation aiming to ban products linked to forced labour from the blocโs market, with potential implications for agricultural and food commodities produced in and outside the bloc.ย
Berlin’s bid to cash in on EU countries’ energy needs must be blocked by Brussels, a Czech-led bloc is demanding.
Investigators previously found blasts that damaged undersea pipelines in 2022 were an act of sabotageSwedish prosecutors have said they will end their investigation into the sabotage of the Nord Stream 1 and 2 gas pipelines in 2022, dodging the questio…
The EU is banking on Washington approving major new LNG projects. The Biden administration might not play ball.
Experts warn of economic impact of sustained shipping attacks and Middle East tensionsBusiness live โ latest updatesOil prices have hit $80 (ยฃ62.83) as fears grew about the economic impact of disruption to international trade through the Red Sea and es…
Five EU food producers organisations have urged the EU’s Agriculture Commissioner to adopt a cap mechanism for sensitive commodities for which the bloc liberalised import from Kyiv.
Exclusive: Sergey Kolesnikov has supplied building materials to Russian military and for use in occupied UkraineAn oligarch who has supplied building materials to the Russian military machine and for construction in occupied areas of Ukraine is being a…
The standoff between Iran-backed Houthis and the West is taking a toll on the world economy.
US is marshaling an international fleet as fears grow of Yemeni rebels’ impact on world economy
Geneva-based trader aims to take advantage of volatility in markets
New power to allow importers to sever ties would help to end Europeโs reliance on Russian suppliesEU countries may soon be able to halt their last remaining Russian gas imports under plans to ban Russian energy companies from their pipelines and termi…
Commodities broker eyes valuation of up to $2.8bn with it having cancelled UK IPO in 2021
Prosecutors say that commodities trading group bribed a government official between 2009 and 2011
Global energy watchdog says Russia cutting supplies has prompted efficiency upgrades and move to heat pumpsThe Ukraine crisis has marked a turning point for Europeโs gas consumption, which is expected to fall again this year as homes and firms embrace …
Disrupter No. 1 โ Russia
Northvolt says new lithium-free sodium-ion battery is cheaper, more sustainable and doesnโt rely on scarce raw materialsEuropeโs energy and electric vehicle industries could reduce their dependency on scarce raw materials from China after the launch of…
Exclusive: Officials fear secret courts will block climate action and divert billions into coffers of fossil fuel investorsA Jersey-based oil-refining company is suing the EU, Germany and Denmark for at least โฌ95m over a windfall tax introduced during …
Price spikes driven by the war in Ukraine are helping fill the petroleum giantsโ coffers, despite governmentsโ promises of a greener era.
Investigation shows how two of the most powerful men in football controlled the careers of 21 young playersThe entire population of Tillmitsch, in the mountainous Austrian wine-growing region of Styria, could fit into Manchester City FCโs 53,400-seater…
Precious metals were pressured this week following Fed Chair Jerome Powellโs comments hinting at tighter monetary policy.
Exclusive: Projects that risk 1.5C heating target operated by companies receiving financing from European, Chinese and US banksBanks pumped more than $150bn last year into companies whose giant โcarbon bombโ projects could destroy the last chance of st…
On 29 June 2023, the EU Regulation on deforestation-free products entered into force. The main driver of the Regulation is the expansion of agricultural land that is linked to the production of commodities like soy, beef, palm oil, wood, cocoa,…
Investigators seeking to establish whether it came from a Chinese container vessel and have not ruled out sabotageFinnish investigators have recovered a large shipโs anchor from near the spot where a Baltic Sea gas pipeline was extensively damaged and …
Twin visits by Prime Minister Anthony Albanese to Washington and Beijing underscore Canberraโs delicate geopolitical tightrope walk.
Police focusing on Newnew Polar Bear cargo ship that was in the area when gas pipeline was damagedFinnish police have said a Chinese ship whose movement coincided with the time and place of the suspected sabotage of a pipeline between Finland and Eston…
Media cites intelligence sources saying Russian sabotage suspected after unusual drop in pressureExtensive damage to an undersea gas pipeline and communications cable connecting Finland and Estonia โcould not have occurred by accidentโ and appears to b…
EU states have worked hard to secure supplies and storage โ while the UK seems just to be hoping it stays mildEurope will enter its second winter since turning off the taps to Russiaโs gas pipelines with record-breaking reserves. By the end of summer, …
Campaigners including Greta Thunberg had called for halt to Rosebank project involving Oslo-listed EquinorBritain has given the go-ahead to develop the UKโs biggest untapped oilfield off Shetland, sparking outrage from environmental campaigners.The UK …
Shipments via third countries obscure Europeโs true reliance on Russian commodities
Leak suggests the oil and gas tycoon and his ex-wife Dasha Zhukova amassed one of the most significant collections of modern art in private handsArt critic Jonathan Jones reviews Abramovichโs collectionAt first glance, the red-brick facade near a line …
Four ex-Soviet states excepted from ban, which has been prompted by railway bottlenecks and weak roubleRussia has temporarily banned exports of petrol and diesel to all countries outside a circle of four ex-Soviet states with immediate effect, in order…
Seventeen countries from the so-called Global South have expressed their exasperation at the European Union’s anti-deforestation legislation and the impact it could have on their exports of commodities such as soy, palm oil, cocoa, beef, coffee or timber.
The national bans, besides breaching EU single market rules, also mark a break of solidarity with Kyiv.
Parliament votes to cut mining red tape and diversify its supplies of raw materials such as lithium and siliconThe EU has voted in a plan to secure more of the critical materials needed to make solar panels, electric car batteries and other key element…
Motorists could be hardest hit after Russia and Saudi Arabia extend cuts to suppliesMotorists are braced for higher pump prices after the cost of oil climbed above $90 a barrel for the first time this year as Russia and Saudi Arabia extended cuts to su…
A team of EU Commission experts will visit the Romanian cities of Constanศa and Galaลฃi from Friday to Saturday as part of the EU Executiveโs quest to find solutions to improve transit, and commodities flow alongย โsolidarity lanesโ the Commission set……
Pipeline flows from Russia have fallen to historic lows, but shipments of LNG from all over the world have surgedEU imports of Russian liquified natural gas (LNG) have increased by 40% since the invasion of Ukraine despite efforts to cut down supplies….
As sanctions loomed, sales of ageing crude carriers suddenly soared, bought by operators unknown to the marketIt has been called Russiaโs โghostโ, โshadowโ, or โdarkโ fleet. Nearly 500 ships, many of them old tankers with murky ownership and obscure in…
UK regular pay growth highest since 2001 while unemployment rate rises unexpectedly; rouble recovers afters Bank of Russia raises rates at extraordinary meetingThe statement doesnโt mention the rouble, which dropped to its lowest level in nearly 17 mon…
High spending on war in Ukraine and drop in export revenues put further pressure on Russiaโs economyThe rouble has fallen to its weakest point in almost 17 months as a collapse in export revenues and growing military spending increase pressure on Russi…
Turkeyโs strategic straits are a trade superhighway โ and a lifeline for the Kremlinโs war machine.
How can European leaders, with good conscience, see another industry that originated in Europe โ let alone one so vital for the global energy transition โ be lost to China?
The Black Sea is once again the ‘Inhospitable Sea,’ as both Russia and Ukraine deny each other control or safe passage in yet another front in this grinding war.
Kyiv warns it’s ‘completely unjustifiable’ for Western vessels to continue shipping Russian oil.
Summit will be a major political and diplomatic test for the Brazilian leader.
Moscow criticised as concern grows about impact of climbing agricultural commodity prices on poorer countriesWheat prices have been climbing on global markets, just days after Russia pulled out of an agreement that guaranteed safe passage for ships car…
Michael Gove โdecided to refuse permission,โ in a win for campaigners concerned about the carbon footprint of redevelopmentOn that subject, the maker of Mr Kipling cakes, Oxo cubes and Bisto gravy granules has said it believes recent food cost inflatio…
Fears over food price rises if Moscow fails to meet deadline for Black Sea export agreementRussia is stonewalling in talks about the renewal of a deal that allowed Ukraine to export grain through the Black Sea, the UK envoy to the UN has warned.Barbara…
The European Union should build on the success of its new joint gas purchase platform and extend it to other commodities including hydrogen and critical raw materials to ensure steady supplies and affordable prices, Maroลก ล efฤoviฤ argued on Thursday.
