energy

European Union energy ministers will meet today to weigh options for curbing energy costs, as Brussels drafts emergency plans to blunt the impact of surging oil and gas prices triggered by the Iran war and the closure of the Strait of Hormuz. The European Commission is preparing a package to shield households and businesses from soaring bills, according to EU officials familiar with the talks. Measures under consideration include targeted state support for energy-intensive industries, temporary cuts to national taxes and…

G7 weighs release of strategic oil reserves as IEA signals no immediate action G7 finance ministers are expected to discuss a possible coordinated release of strategic oil reserves as the war in the Middle East rattles energy markets, a French government source said today. The International Energy Agency, which coordinates emergency actions among major importers, said there is “plenty of oil in the market” and no collective action is planned for now, even as it keeps “all options” open. The debate comes as U.S. benchmark…

Somalia, U.S. open high-level trade talks in Mogadishu, eye energy and critical minerals amid rising offshore interest Wednesday March 4, 2026 Mogadishu (AX) — Somalia and the United States held high-level talks in the capital on Tuesday to expand bilateral trade and investment, with a sharp focus on energy and critical minerals, officials said. The meeting — formally convened inside Somalia for the first time — was cast by both sides as a marker of growing confidence in the country’s security and economic trajectory. The…

Russia launched one of its largest recent aerial barrages against Ukraine overnight, firing waves of drones and missiles at power plants, substations and rail lines across multiple regions, injuring dozens and setting off fires, officials said. President Volodymyr Zelensky said Russia sent 420 attack drones and 39 missiles — including 11 ballistic missiles — in a coordinated strike aimed at the country’s energy sector and other critical infrastructure. “Last night, Russia once again waged war on critical infrastructure and…

France’s minority government survived twin no-confidence votes after pushing a new energy law through by decree, but the more consequential shift may be outside the chamber: a new poll indicates voters are now more inclined to block the hard left than the far right in runoffs, signaling a potential realignment of the country’s political guardrails. The motions were filed by the far-right National Rally (RN) and the hard-left France Unbowed (LFI), underscoring how both fringes sought to capitalize on the government’s reliance…

BUDAPEST/KYIV/DUBLIN — Hungary’s Prime Minister Viktor Orban accused Ukraine on Wednesday of preparing to disrupt Hungary’s energy system and ordered soldiers and equipment deployed to protect critical infrastructure, escalating a dispute over a shutdown of the Druzhba oil pipeline that has choked Russian crude deliveries to Hungary and Slovakia. Orban, speaking in a video posted to his Facebook page, said the Druzhba outage was for “political, not technical, reasons,” and cited intelligence reports pointing to possible…

ANKARA, Türkiye — Türkiye on Thursday denounced Greece’s new agreement with U.S. energy major Chevron to explore for hydrocarbons south of Crete, calling the move unlawful and contrary to good-neighborly relations in the Eastern Mediterranean. “We oppose this unlawful activity, which is being attempted in violation of the 2019 Memorandum of Understanding on Maritime Jurisdiction between Libya and our country,” the Turkish Defense Ministry said at its weekly briefing. The ministry added that while the work does not directly…

Turkey and Ethiopia signed a memorandum of understanding on energy cooperation during President Tayyip Erdogan’s one-day visit to Addis Ababa on Tuesday, setting the stage for joint projects and manufacturing across renewable power and efficiency, Turkey’s Energy Ministry said. The accord was inked at a ceremony following talks between Erdogan and Ethiopian Prime Minister Abiy Ahmed. It marks Erdogan’s first visit to Ethiopia in 11 years and signals a fresh push to deepen Ankara’s engagement with the Horn of Africa. Turkish…

Türkiye sends drilling vessel to Somalia for historic offshore energy mission MERSIN, Turkey — Türkiye’s new deepwater drilling vessel, the Cagri Bey, departed Mersin Port on Sunday bound for the Somali coast to begin its first international offshore energy assignment, marking a significant step in Ankara’s drive for energy independence. Energy and Natural Resources Minister Alparslan Bayraktar announced the deployment as part of a broader strategy to expand oil and natural gas exploration. Drilling operations in Somali…

UN urges Russia to halt strikes on Ukraine’s energy grid as fresh barrages kill civilians, cripple heat and water supplies The United Nations on Thursday called on Russia to stop its attacks on Ukraine’s energy infrastructure after another nationwide barrage killed two people and plunged parts of the country into darkness and subzero cold. “The relentless attacks by the Russian Federation on energy infrastructure across Ukraine are depriving an already long-suffering civilian population of adequate warmth, water and…