BOLOGNA, Italy, June 5 (Reuters) – Europe’s squeezed utility
firms say they cannot cut prices to stop their big industrial
clients moving to the United States, where fuel costs around a
quarter as much.
Losing the business of heavy energy users, such as chemical
giants, cement and steel makers, could force the power companies
to put up prices for households, hurting consumer budgets and
making it harder for Europe to spend its way out of recession.
BRUSSELS, May 28 (Reuters) – Europe needs an EU-wide
framework if it is to tap into its shale gas reserves quickly
enough to reap the benefit, a senior executive at Chevron Corp
said on Tuesday.
European governments should also consider sharing any
profits with local communities in an echo of what is done in the
United States, where landowners benefit directly from shale gas
finds, Derek Magness, Chevron’s general manager for Europe, Asia
and Middle East, told Reuters in an interview.
BRUSSELS (Reuters) – The gap has widened between the fuel-efficiency that carmakers declare for their models and the reality for drivers, with luxury German vehicles showing the biggest divergence, a study has found.
Research by the non-profit International Council on Clean Transportation (ICCT) found “real-world” carbon emissions for new cars based on fuel consumption are about 25 percent higher on average than carmakers say, compared to 10 percent a decade ago.
VIENNA/BRUSSELS, May 28 (Reuters) – Europe’s grand plan for
a gas pipeline from the Caspian Sea that would make its eastern
states less reliant on Russia may have been fatally undermined
by Russia’s even bigger project.
As Azerbaijan nears a decision on which pipeline to choose
for its future exports, the Nabucco plan that was long the
European Union favourite could lose out to the more modest Trans
Adriatic Pipeline (TAP) across Greece to southern Italy.
BRUSSELS (Reuters) – European leaders have decided youth unemployment and the risk of social breakdown are among the toughest challenges they face and finding solutions will be a top priority for the coming months.
In a letter released late on Friday, European Council President Herman Van Rompuy said youth unemployment was one of the most pressing issues for the 27-member European Union.
BRUSSELS, May 22 (Reuters) – European leaders discussed the
region’s reserves of shale gas at a summit on Wednesday, but the
prospect of the continent enjoying a U.S.-style shale boom that
drastically cuts energy costs remains elusive.
Arriving at the summit, British Prime Minister David
Cameron, whose government is advancing plans to exploit his
country’s shale gas deposits, said Europe could not afford to be
left behind as the world scrambles to develop the resource.
BRUSSELS, May 21 (Reuters) – European leaders will discuss
plans to exploit shale gas in summit talks on Wednesday as part
of a decades-long quest to develop more secure and competitive
The 27-nation bloc finds itself looking on with envy as its
biggest economic rival, the United States, exploits vast
reserves of shale gas, delivering drastically reduced fuel
BRUSSELS/NICOSIA, May 16 (Reuters) – Cyprus could use its
reserves of gas to meet up to 40 percent of Europe’s additional
gas needs over the next decade, helping to curb the European
Union’s reliance on Russia, the head of the island’s national
gas firm said.
Europe has hopes Eastern Mediterranean gas reserves can help
to diversify its supply sources, as well as easing Cyprus’s
economic pain and potentially playing a role in healing the rift
between the northern and southern parts of the island.
BRUSSELS, May 13 (Reuters) – China’s decision to ease a
boycott of some $11 billion in Airbus jet orders followed a
high-level appeal from the planemaker urging Beijing to
recognise its support over a trade row with Europe, a letter
seen by Reuters shows.
It gives a glimpse into the intensity of the lobbying in the
dispute, which helped persuade the European Union to freeze a
law on regulating international aviation emissions.
BRUSSELS (Reuters) – China’s decision to ease a boycott of some $11 billion in Airbus jet orders followed a high-level appeal from the planemaker urging Beijing to recognize its support over a trade row with Europe, a letter seen by Reuters shows.
It gives a glimpse into the intensity of the lobbying in the dispute, which helped persuade the European Union to freeze a law on regulating international aviation emissions.