European Union

EU asks Italy to cut its budget deficit – MarketWatch – 18/01/2017

The European Commission has asked Italy to reduce its 2017 budget deficit by about EUR3.4 billon ($3.64 billion), an Italian Treasury official said, to avoid an excessive-deficit procedure that could include fines. The request, included in a letter delivered Tuesday and published on the Italian Treasury's website, is being evaluated, a Treasury official said. "The [...]

By |January 20th, 2017|Categories: News|Tags: , , |

Refinery utilisation rates worldwide

The latest OPEC Monthly Oil Market Report provides a broad a broad presentation of latest oil statistics. This week we show the level of refinery utilization rates that have been on the rise worldwide: “Following the peak of the global refinery maintenance season, more than 4 mb/d of capacity came online during last two months [...]

By |January 20th, 2017|Categories: Graph Analysis|Tags: , , , , , , |

Brexit poses risk to Ireland’s energy security – The Times – 29/12/2016

Brexit could force the government to seek an exemption on rules relating to oil reserves and has thrown up a number of “tricky” issues in relation to the country’s energy security, a senior minister has warned. Denis Naughten, the communications, climate action and environment minister, said that he was hoping the UK could avoid tariffs [...]

By |January 5th, 2017|Categories: News|Tags: , , , , , |

EU progress towards 2020 climate and energy targets

A recent report of the European Energy Agency (EEA) monitored the progress of the European Union against its climate and energy targets. It points out that: “Although the EU and its Member States are making good progress towards their short-term goals on climate and energy, efforts will need to be considerably increased to meet the [...]

Gas: energy MEPs back draft law on emergency supply links between EU countries – European Parliament – 13/10/2016

An EU country facing an emergency gas shortage could call on other member states to supply it with gas via “supply corridors” that would link EU countries into seven transnational regions, under a draft law enshrining a “regional solidarity mechanism”, as amended and approved by the Energy Committee on Thursday. The committee also approved a [...]

By |October 14th, 2016|Categories: News|Tags: , , |

Jean-Claude Juncker wants to bend European budget rules

Jean-Claude Juncker will push for changes to the Stability and Growth Pact in his State of the Union speech next week by calling for more flexibility when assessing the deficit and debt of EU countries, according to two senior Commission officials familiar with the discussions. The European Commission president told a gathering of 27 commissioners [...]

By |September 15th, 2016|Categories: News|Tags: , , , , |

Brussels prepares market economy compromise for China

The European Commission is seeking a middle way between China’s clamour to be treated the same as advanced economies and complaints from European member states and industrial groups that surging imports from China are to blame for the collapse in steel prices.

Source:  FT, 2016/07/20

By |July 27th, 2016|Categories: News|Tags: , , , |

Theresa May: You’re the one that I want…

Here we are now, entertain us! Today, Theresa May becomes the new United Kingdom (UK) Prime Minister, succeeding to David Cameron who will present his resignation letter to Her Majesty the Queen Elizabeth II in the coming hours. Taking over will be quite a challenge for the one that is presented as the new “Iron [...]

By |July 13th, 2016|Categories: Analyst's Insight|Tags: , , , , , , |

A renewed nationalism is stalking Europe

Nationalism is one of modern Europe’s strongest traditions, but it fell into disrepute after the second world war. Amid the avalanche of crises that have struck the EU over the past decade, of which Britain’s vote to leave the bloc is the latest example, nationalism is making a reappearance. It takes a different form from [...]

By |July 12th, 2016|Categories: News|Tags: , , |

Germany Puts Brake on Renewable Energy Expansion

Quick rise of renewables resulted in power glut that hit conventional generators

Source:  WSJ, 2016/07/08

By |July 12th, 2016|Categories: News|Tags: , , , |