Latest News
-
German emissions declined only modestly by 2025, due to building and transport
Agora Energiewende, a think tank for energy, said that Germany's greenhouse gases emissions will only be marginally lower?in 2025 as the?overall climate equilibrium is impacted by the?weak progress made in decarbonising transport and buildings. Germany, Europe's biggest economy and manufacturing powerhouse, aims to be climate neutral by 2045. Part of this goal is to achieve 80% of electricity from renewable sources by the end the decade. Agora's annual report stated that carbon dioxide emissions in 2025 will be 640 million tons, a decrease of?1.5%, or 9 millions tons, from the previous year. Agora calculated that while Germany achieved its annual emissions goal last year, the reduction is less than half of what will be saved in 2024. It was partly due to lower production in energy-intensive sectors, which were a result of weak global demand and prolonged low prices. However, record solar power generation also played a role. Julia Blaesius is the director of Agora Energiewende Germany. She added that "The power sector, which has been the main driver of emissions reductions to date, cannot compensate permanently for the inadequacies in the switchover to climate technologies on transport and in buildings." Emissions are higher in cold temperatures and with more fuel use. Agora reported that after years of insufficient progress, the building and transport sectors will see emissions rise in 2025. A cold start last year led to an increase in heating oil and gas consumption, which increased emissions by 3.2% or 3 million?tons. Transport emissions increased by?1.4% or 2 million tons due to a slight increase in fuel consumption. SOLAR ENERGY IS A SILVER LINING Positively, a record year of solar power production offset a poor year for wind and waterpower. Solar energy now accounts for 18% of electricity, surpassing coal and natural gas. Around 300,000 heat pumps were sold in 2025. According to the analysis the increasing share of renewables in the power mix has dampened the rise in prices. However, electricity costs at the exchange will still increase by 13% on average to 89 euros (104 dollars) per megawatt-hour in 2025.
-
Polish Cabinet backs changes to energy law to speed up grid connections
The Polish Cabinet has approved a revamp of the energy laws to speed up grid connections, prevent developers from ordering capacity that they never use, and increase transparency in the process of connecting to the grid. The draft is designed to reduce the time it takes for developers to convert an initial agreement into a connection agreement and to increase fees for connection requests in order to alleviate a glut of speculative connections that block access to other users. Poland is facing?power overload, also known as ghost capacity. This occurs at a moment when the?electricity grid requires investment to increase flexibility, integrate intermittent sources of renewable energy, and reduce connection wait times that are estimated at around three years. Last year, the Polish power grid PSE announced that project developers had submitted a?motion to connect 130 gigawatts worth of data centres to its grid. This is compared to an industry expert's projected growth of only 1.2 GW by 2034. PSE needs to integrate 80 GW and 15 GW new renewable capacity by 2034. Renewables will account for 60% of Poland's electricity in 2035. This bill will guarantee a transparent, fair process to connect to the grid... and ensure that grid connection rights won't be subject to speculation," said Polish Energy Minister Milosz Motyka at a Wednesday news briefing. To become law, the draft must be approved by both the parliament and the president. (Reporting by Marek Strzelecki, additional reporting by Pawel Florkiewicz)
-
Berlin restored to power after longest blackout in history
On 'Wednesday,' electricity was restored in southwestern Berlin after a suspected arsonist attack on a power station. The leftist activists allegedly set it ablaze. This caused a blackout that affected tens and thousands of homes. It was the longest blackout to hit the German capital since World War Two. Berlin Mayor Kai Wegner said: "Today's a great day for many people who have been without heat and electricity since January 3. The?operation for restoring power', which began at 11 am. He said that the process of achieving 1000 GMT was "complex and gradual". A fire broke out early Saturday morning, destroying a cable duct that crossed a canal. This cut off electricity to 45,000 homes and more than 2,00 businesses in the southwestern district of the city during a period of freezing temperatures. Volcano, a far-left activist group that claimed responsibility for the attack on a power pole near Tesla's factory in Berlin outside 2024, has now taken over. The German army was called to help residents who were struggling with this outage which also affected heating, mobile phone connections and trains. Some politicians have demanded more funding to protect the infrastructure of the capital, particularly after the intelligence agency warned about the growing threat from left-wing extremists. Madeline Chambers, Matthias Williams and Jan Harvey edited the report.
-
After weeks of pursuit, the US seizes a Russian-flagged, Venezuela-linked oil tanker
Two U.S. officials said on Wednesday that the United States was attempting to seize an oil tanker flying the Russian flag with "links" to Venezuela, after a two-week pursuit across Atlantic. A Russian warship and submarine were also close by. The tanker, known originally as Bella-1, had slipped past a U.S. "blockade" maritime of sanctioned oil tankers, and refused to allow the U.S. Coast Guard to board it. Officials, speaking under condition of anonymity said that the Coast Guard was involved in the operation, as were the U.S. Military. It was the first time since recent memory that the U.S. Military attempted to seize an American-flagged ship. The Russians also said that there were?vessels of the Russian military in the general area, including a Russian sub. The vessels' proximity to the operation near Iceland was not clear. TANKER IS ONE OF THE VESSELS TARGETED by the U.S. Last month, the U.S. Coast Guard attempted to board the vessel but it refused. It has been registered under the Russian flag since then. The U.S. Coast Guard has targeted the Marinera tanker as part of its pressure campaign against Venezuela since Donald Trump began his campaign. U.S. officials have confirmed that the U.S. Coast Guard has intercepted a second Venezuela-linked oil tanker in Latin American water. The U.S. is continuing to enforce a maritime "blockade", of vessels sanctioned from Venezuela. These?moves are just days after U.S. Special Forces swooped in Caracas at dawn on Saturday to?capture President Nicolas Maduro, and bring him to the United States. The U.S. Military handed him over to the?federal authorities in order to prosecute him on charges of alleged drug trafficking. Venezuelan officials have called Maduro’s capture as a kidnapping, and accused the U.S. for trying to steal Venezuela’s vast oil reserves. Trump and other top U.S. officials, in turn, have accused Venezuelans of stealing U.S. crude oil. This is an apparent reference to Venezuela's nationalization in waves of its energy industry over the last half century. (Reporting and editing by Andrew Heavens, Frances Kerry and Idrees Stewart)
-
Parisians take to the ski slopes as snow clogs Europe's roads
Snow and ice brought misery for travellers in north-west Europe on Wednesday, but joy to others who set off to explore a snowy Paris on skis and sledges. Storm Goretti, which blew in from the Atlantic Coast, hit Paris at dawn, with heavy snowfall that caused further flight cancellations, traffic jams, and transport disruption. As shops prepared for the first New Year's sales, the city's buses were suspended. Tourists and locals alike enjoyed the rare sighting of snow-covered Paris. Some even took the opportunity to ski along the Champs de Mars gardens and down the slopes at Montmartre. "It's exceptional, it's incredible. We're having a great time. "We also saw a lot of tourists, and they looked so happy," said Pierre a Parisian admiring the snowy landscape. Some people used plastic bags or sledges to slide down any slope they could find. The French Weather Office has warned that snow will fall across northern France on Wednesday. AIRLINE KLM WARNS OF DE-ICING FLUIDS RUNNING OUT Dutch airline KLM has cancelled?600 flights at Amsterdam Schiphol Airport on Wednesday, the sixth day in a row of disruptions at one of Europe?s busiest hubs. KLM warned that it was running out of de-icing liquid for its jets. Delays in supplies made it difficult to replenish stocks. In France, there were no shortages reported. The French civil aviation authority has asked airlines to reduce flights by 40% at Paris' main airport, Charles de Gaulle, and 25% at Orly. Eurostar, the train operator, also reported major delays and cancellations at Brussels' international airport. PEOPLE ARE TOLD TO WORK AT HOME Dutch authorities encouraged people to work at home. French officials, meanwhile, banned trucks and buses in a third all administrative departments in France. Carrefour CEO Alexandre Bompard stated that the truck ban will cause some disruption to supermarket supply chains in particular fresh produce. In Germany and further east, temperatures fell below minus 10° Celsius (14° Fahrenheit) on Wednesday. However, traffic disruptions have been minimal. Snow and unusually cold temperatures have also affected Spain, causing the suspension of a commuter train line near Madrid as well as the disruption of more than 40 roads throughout?the entire country. Passengers trapped on a train in Croatia Overnight, heavy snow and rain caused travel disruptions in the Western Balkans. After trees fell on the rails, passengers were trapped for over 12 hours in Knin, a town in northwest Croatia. Some towns in eastern Bosnia and western Serbia declared emergencies after experiencing power and water shortages. Snow closed schools in Poland. Some switched to remote learning. Heavy snowfall in Hungary on Wednesday morning caused delays for trains and buses. Reporting by Inti Landauro, Thomas Seythal, Louise Rasmussen, Alan Charlish, Daria Sito Sucic, and Jesus Calero, in Brussels; editing by Richard Lough.
-
US seizing Venezuela-linked oil tanker after weeks-long pursuit
Two U.S. officials said on Wednesday that the United States was attempting to seize an oil tanker linked to Venezuela after a?more than two-week pursuit across Atlantic. The tanker, originally called Bella-1, slipped past a U.S. "blockade" on sanctioned oil tankers, and rebuffed U.S. Coast Guard attempts to board it. Officials who spoke on condition of anonymity said that the Coast Guard, along with the U.S. Military, is carrying out the operation. The statement added that Russian naval vessels, including a Russian submarine, were present in the area when the incident occurred. The U.S. Coast Guard has targeted the?tanker known as Marinera, registered under the Russian flag. This is the latest target of President Donald Trump’s pressure campaign on Venezuela. U.S. officials have confirmed that the U.S. coast guard has intercepted a second Venezuela-linked oil tanker in Latin American waters, as it continues to enforce a maritime "blockade". Reporting by Idrees Al and Phil Stewart, Editing by Andrew Heavens
-
Greece offers cheaper fuel and damage coverage to farmers in a bid to end the blockade
Greece offered farmers full compensation for any future losses in production and cheaper fuel on Wednesday, as a desperate attempt to persuade them that the protests which have affected travel and some businesses should stop. Since late last year, farmers have been stationing thousands of tractors across Greece to protest high production and payment delays. The centre-right Prime Minister KyriakosMitsotakis has called on farmers to stop the "blockades" and enter into talks. Farmers have threatened to take further action if their demands are not met, including minimum prices for their products. The Greek Ministers have admitted that payments began a month after the scandal over farm aid, but in November they were delayed because EU approval was required. Farmers received 4.46 billion euros (3.8 billion dollars) as aid and other payments. This is a 13% increase compared to 2024. The Agriculture Minister,?Kostas?Tsiaras, announced that this year, he would offer cheaper agricultural 'diesel to producers of cotton and wheat and will also provide 160 million Euros in additional assistance for stockbreeders and cotton and grain producers. Tsiaras stated that the government was using all available methods to fix a decade's worth of problems and introduce transparency rules in order to restart the primary sector. Athens has also promised to amend the rules quickly to allow for?full compensation' in future cases of damage to livestock or crops. Bulgaria, Greece's neighbor, said Wednesday that it had filed a formal complaint regarding the blocking of border crossings. This has caused "serious difficulties" for Bulgarian exporters and citizens and has violated EU rules on free movement. EU agriculture ministers meanwhile are meeting in Brussels to discuss the possibility of a free-trade agreement with South American bloc Mercosur. The European Commission needs to have a majority of 15 members representing 65% or the EU's population in order to authorize the bloc to sign this deal. However, the European Parliament would need to approve it. Tsiaras stated that the agreement should include "clear, practical safeguard clauses", as well as fair play rules. Reporting by Angeliki Koutantou, Editing by Alexander Smith.
-
China's top diplomatic official tours Africa to focus on strategic trade routes
China's top diplomatic official began his annual New Year tour in Africa on Wednesday. Beijing is seeking to secure important shipping routes and supply lines as it seeks to secure strategic trade access?across Eastern and Southern Africa. On his trip this year, Wang Yi will visit Ethiopia, Africa's largest economy with the fastest growth rate; Somalia, a Horn?of Africa?state that offers access to important global shipping lanes, Tanzania, a logistic hub connecting minerals-rich central Africa and the Indian Ocean, and Lesotho - a small economy in southern Africa squeezed by U.S. Trade Measures. Beijing wants to promote countries that it considers model partners in President Xi Jinping’s flagship 'Belt and Road" infrastructure programme and expand export markets. This is especially true for young, affluent nations like Ethiopia, where IMF predicts a 7.2% growth this year. China, the largest bilateral lender in the world, faces Growing competition The European Union will finance African infrastructure as the countries that have been hit by debt crises due to pandemics are now looking for investment rather than loans. A spokesperson for the ministry said that "Foreign minister Wang's trip aims to strengthen?political trust and mutual trust" and added that the trip will "increase exchanges and mutual understand between the two greatest civilisations in China and Africa". Wang opened 2025 ?by Visit our website to learn more about Namibia, the Republic of Congo and Nigeria. First Dilplomatic Mission to Somalia in Decades It is believed that his upcoming trip to Somalia will be the first visit by a Chinese foreign minister since the 1980s. This is also expected to give Mogadishu a diplomatic boost, after Israel was the first country to recognise the breakaway Republic of Somaliland - a region in the north which declared independence in 1991. Beijing, which reaffirmed its support for Somalia following the Israeli announcement made in December, wants to strengthen its influence around Gulf of Aden. This is the entrance to Red Sea, and the most important corridor for Chinese commerce transiting the Suez Canal into Europe. Tanzania, further south, is a key part of Beijing's plan for securing access to Africa's vast deposits of copper. Chinese firms are refurbishing Tazara Railway, which runs through the country and into Zambia. In November, Li?Qiang visited Zambia for the first time in 28 years. The railway is viewed as a counterweight against the U.S.-backed Lobito Corridor that connects Zambia with Atlantic ports via Angola, and the Democratic Republic of the Congo. CHINA - FREE TRADE IN LESOTHO Wang's visit to Lesotho in southern Africa is intended to show Beijing's efforts to establish itself as the champion of free-trade. Last year, China granted tariff-free access to its $19 trillion market for the world's most impoverished nations. This was in fulfillment of a promise made by Chinese President Xi Jinping during the 2024 China Africa Cooperation Summit. Lesotho is one of the poorest countries in the world with a GNP of less than $2 billion. Last year, it was hit hard by the tariffs of Donald Trump, which imposed duties up to 50% on exports. (Reporting and editing by Himani Sarkar; Kate Mayberry, Louise Heavens, and Himani Sarkar)
CANADA CRUDE-Western Canada Select's spread widens. Analysts say Venezuela is a long-term threat.
The discount between West Texas Intermediate and Western Canada Select futures in North America widened Monday as traders?assessed potential for further weakness if Venezuela was able to 'ramp up' its oil production over time.
WCS for the February 'delivery' in Hardisty, Alberta settled at $13.55 per barrel, below the U.S. benchmark WTI. This is a drop from $13.15 last Friday. Oil analysts predicted that Venezuelan crude production could reach half a milion barrels per day within two years, if Venezuela was politically stable and U.S. firms invested there.
Market observers say that any possible end of U.S. sanctions on Venezuela and the restoration of oil flow from Venezuela will 'likely have an adverse impact on the pricing of similar graded heavy crudes from Canada. Canada currently exports 90% of its oil to the U.S.
Even if the sanctions are lifted, Randy?Ollenberger said, it would take time and massive capital investments to significantly increase Venezuelan production. He said that the longer it takes to lift sanctions, the more time Canadian oil producers will have to find alternatives, such as moving more barrels onto the Trans Mountain pipeline to export to Asian markets.
Rory Johnston of Commodity Context, a newsletter founded by Rory Johnston and specializing in commodity markets, says that companies could export more Canadian barrels from the Gulf Coast to Asia.
He said that Canadian crude was competing with Venezuelan barrels on the Gulf Coast before the imposition of U.S. sanctions. The discount on WCS then was greater than it is today.
Johnston said, "It is not likely that Venezuela will be able to fill up Canadian barrels any way."
The global oil price settled at $1 per barrel on Monday, after President Donald Trump announced that the U.S. will take control of South America, which has the largest oil reserves in the world, following the arrest and detention of its president.
(source: Reuters)