Business News Asia
Russia’s deputy prime minister said yesterday (Dec. 26) that Russia will reduce production and exports of natural gas in 2022 due to the closure of export infrastructure. This year, gas production will be 12% lower than in 2021, and exports…
Natural gas prices in Europe soared today (Aug. 23) amid fears that winter power shortages could have a major impact on the region’s economy. Gas futures prices rose 5.2% to 291 euros per megawatt hour after reaching a record high…
According to the Federal Statistical Office (FSO), German exports to countries outside the European Union (EU) fell by 7.6% in July compared with the previous month, after rising for three months in a row. The economy slowed in the second…
EU industrial production up 0.8% in euro area and 0.6% in EU in May MoM. This is higher than analysts expected, who predicted a 0.3% increase after the index rose 0.5% last month.
The EU would like to welcome Taiwan, a major semiconductor manufacturer, as a partner to work with under the proposed European Chips Act to address the ongoing global chip shortage. The European Chip Act was already presented in February. A…
Russian gas giant Gazprom announced today in a press release that gas supplies to the Netherlands will be stopped. The reason for this is the lack of payment for the gas supply in rubles. The press release literally states, “As of the…
The European Commission (EC) announced that its European Business and Consumer Survey index rose to 105.0 in May from 104.9 in April. The European Business and Consumer Survey Index measure confidence in the euro zone. It is one of the…
The Energy Information Administration (EIA) reports that rates for oil tankers from Europe increased almost sixfold in April. The reasons are geopolitical unrest, which is also related to the war between Ukraine and Russia. Added to this are the sanctions…
The recent rise in oil prices is also due to the EU Commission’s proposal to impose an embargo on Russian crude oil and refined products, following the example of the US. It also wants to give EU member states that…
As reported by the International Energy Agency in its April 2022 Oil Market Report, oil production by OPEC countries increased by only 40,000 barrels per day in March, well below the 400,000 barrels per day promised. This is also far…
