Policy & Trading

Glencore under investigation for bribery in the UK

British authorities are investigating commodity trader Glencore for bribery in the UK, shows a statement sent to the stock market in London. News emerged earlier this year that the company also faced a corruption probe in the US.

EU member states want to overhaul energy taxation

This Thursday, the EU's ministers of finance are expected to adopt a text that calls on the EU Commission to present a proposal for an overhaul of the EU's energy taxation directive. This could impact taxation of the maritime sector.

China airs cutting coal capacity by 33 percent

Several coal-fired power plants should be decommissioned, suggests China, which aims to rescue the economies of five utilities. Implementing the measure would slash coal consumption by up to one third in 2021.

Europe set to overhaul its entire economy in green deal push

As many of the continent's entities consider, enact or prepare for more aggressive climate change mitigation policies, including the ECB, EIB and Denmark's development fund IFU, the EU is readying itself to implement a major campaign to clean up its climate footprint with a far-reaching, green economic overhaul, which Ursula von der Leyen says would "make the transition to climate neutrality irreversible".

Danish state fund drops black energy investments

As of 2020, Danish state development fund IFU will stop supporting projects solely based on fossil energy. Domestic power plant developer BWSC warns against the measure, which it says is in violation of the Paris Climate Accord.

Ørsted's new vision enters Danish state budget

Green hydrogen moves higher up on the political agenda with Denmark's new state budget, in which EUR 8.7 million are allocated to preliminary assessments of energy islands over the coming years, while EUR 10 million are earmarked for green buses and taxis.

Noreco wants to pull USD 403 million from state coffers

The Norwegian oil company is activating postponed taxes worth 403 million in the first quarterly report following its acquisition of Shell's North Sea assets – money that Noreco first expects to recover in ten years, Chair Riulf Rustad tells EnergyWatch.

Greenpeace blesses offshore wind sector's ambitions

The offshore wind industry has received a warm-hearted benediction from environmental NGO Greenpeace regarding the former's massive ongoing capacity expansion. But the process should show caution, the group advocates, adding that the build-out needs to both scale up and accelerate.

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