EU agrees on Russia sanctions so far, but energy divides
By Raf Casert And Samuel Petrequin in Brussels BRUSSELS (AP) — The European Union preserved a sense of rarely seen unity through four rounds of unprecedented sanctions against Russia over its invasion of Ukraine. But at a summit Thursday, the 27 leaders faced...
Canada to hike oil, gas output by 300,000 barrels a day to help displace Russian fuel
Canada’s oil and gas producers can hike output by the equivalent of 300,000 barrels a day by the end of the year to help displace Russian fossil fuels, Natural Resources Minister Jonathan Wilkinson said Thursday.
Wilkinson, speaking at the end of an International Energy Agency meeting in Paris, said two-thirds of that is oil and the rest natural gas.
“Canada’s European friends and allies are experiencing an energy security crisis, a crisis that could impact industry, mobility, and even the heating of homes,” Wilkinson said. “This crisis must be addressed.”
As part of economic sanctions intended to punish Russia for its invasion in Ukraine, western allies are also trying to cut off any dependence on Russia for oil and gas.
Putin wants ‘unfriendly countries’ to pay rubles for gas
MOSCOW (AP) — President Vladimir Putin announced Wednesday that Russia will demand that “unfriendly'' countries pay for Russian natural gas exports only in rubles from now on. Putin told a meeting with government officials that “a number of Western countries made...
Sask Budget 2023: Rising resource revenue has big impact
REGINA – In the years after the oil downturn hit in late 2014, the deficit hole in the Saskatchewan budget was typically almost exactly the equal to the decline from previous oil revenues. And now that hole is closing. That’s apparent in the 2022-23 budget tabled by...
EU wants gas storage topped up to curb reliance on Russia
BRUSSELS (AP) — The European Union’s executive arm proposed Wednesday that all natural gas storage facilities in the 27-nation bloc are topped up to at least 80% capacity for next winter as it seeks to reduce its reliance on Russian energy in the future.
On the eve of a two-day summit of EU leaders, the European Commission said the bloc must quickly revamp its energy policy before next winter and another price crisis leaves millions of EU citizens with bills they cannot pay.
EU leaders have already vowed to wean the bloc off its dependence on Russian energy by 2027, but tangible measures still have to be put in place. On top of mandatory high storage levels, the commission also wants EU nations to agree to the joint purchase of natural gas and liquefied natural gas that would be similar to its system of buying COVID-19 vaccines in huge quantities for equitable distribution.
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