Hungary sticks its stand on energy investment before banning Russian oil

Hungary stuck to its demands for energy investment before it agrees to a Russian oil embargo, clashing with European Union states pushing for swift approval of more sanctions against Moscow for invading Ukraine. The EU executive European Commission early this month proposed new sanctions but Hungary’s opposition has so far barred the unanimity of all

Refineries in Europe look for alternative crude supplies

Refineries in Europe are looking for alternative crude supplies as they shun Russian imports following Moscow’s invasion of Ukraine. Poland’s PKN Orlen is ramping up crude oil deliveries from Saudi Arabia and spot North Sea crude purchases following Russia’s invasion of Ukraine. “PKN Orlen reached an agreement on increased deliveries of five additional tankers from

Russian fossil fuel exports increased since Ukraine invasion

A latest report by a Finland-based think tank has revealed that the fossil fuel exports have been one of the key factors in the Russian invasion of Ukraine. The Centre for Research on Energy and Clean Air in its report has delved into the fossil fuel exports by Russia, of which the European Union has

Ukraine’s invasion underscores Europe’s deep reliance on Russian fossil fuels

Russian president Vladimir Putin’s decision to send troops into Ukraine spooked energy markets this week, amid fears that the escalating conflict and ensuing sanctions could disrupt global fossil-fuel supplies. Russia is one of the world’s largest producers of petroleum, natural gas, and coal, so any actions that curtail exports could have global ripple effects, pushing