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The Finnish Ministry of Foreign Affairs refused to issue an export license to the Finnish shipyard Arctech Helsinki Shipyard for building an icebreaker for Russian company Norilsk Nickel.

The current energy crisis cannot be left to the roiled market to sort itself out and will need smart government intervention by taxing the wealthier to shield the most vulnerable consumers.

EU leaders are set to ask the bloc’s executive at a summit this week to come up with a proposal for capping the price of gas imports in a bid to curb prices.

Low levels of production mean that e-fuels, a hydrogen-derived fuel source touted as a green solution for internal combustion engine vehicles, will only be able to cover around 2% of the EU’s vehicle fleet by 2035, a new study concludes.

In September, Aramco’s CEO warned the markets that policymakers need to look beyond this winter and stop vilifying the oil and gas industry if they want to prevent the next energy crisis.

Russian gas supplies to Europe in transit through Ukraine remain at previous volume of 41.8 mln cubic meters via the Sudzha gas distribution station on October 4.

Sweden sent a diving vessel on Monday (3 October) to the site of Russian gas pipelines in the Baltic Sea that ruptured last week following blasts in the area, to probe an incident that has added new tension to Europe’s energy crisis.

There are asymmetrical upside drivers for oil prices by the end of the year.

EU finance ministers on Tuesday agreed on the financing and distribution of a €20 billion ($19.8 billion) fund needed to reduce the bloc’s dependency on Russian energy imports.