March 2022

The price of OPEC basket of thirteen crudes stood at $113.39 a barrel on Monday

Since late February, thermal coal prices have surged globally as traders and end-users seek out potential replacements for Russian fossil fuels.

The sanctions against Russia are the hardest we have seen against any country to date and in particular the decision to freeze $600bn of Russian foreign reserves is a first, which will have huge consequences in the long-term.

The dependence on Russian natural gas in Germany is so great that if supplies from Russia were to be stopped and the remaining quantities of natural gas distributed to Europe, Germany would have to reduce its natural gas consumption in the heating gas sector or in the industrial sector by 100 TWh per year .

During this week’s visit, the Director General will travel to one of Ukraine’s nuclear power plants.

President Duda said that, especially at the current time with "the Russian aggression on Ukraine", the diversification of energy supplies, including the import of American Liquefied Natural Gas, was of “extreme importance".

The document regulates cooperation on the planning and implementation of projects for clean energy production, alternative and strategic gas supplies, security of energy supply, clean energy, and development of nuclear energy, the Ministry said.

The Biden administration has set a goal of a carbon-free electric sector by 2035.

Customers get a cost-effective way to generate their own power, a source of backup power in the event of grid outages, and payment for power they send back to the grid.

Brent slid as low as $115.32 a barrel, WTI hit a low of $108.28 a barrel.