ShareAction posts open letter to big banks over oil and gas funding
Barclays, BNP Paribas, Crédit Agricole, Deutsche Bank, and SocGen among the recipients
Oil
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European Commission threatens cap on energy company revenues
‘In these times, profits must be shared and channelled to those who need it the most’ says Ursula von der Leyen
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Norwegian oil fund releases disastrous results, warns of tough times ahead
Its Russian equities were frozen in the wake of the invasion of Ukraine
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Energy intensive sectors at risk amid concerns over gas shortages
With food and healthcare industries given priority, sectors like the chemical industry would shoulder a heavier burden
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EC pledges nearly €1bn to boost Europe’s defences
‘Notably in space, cyber and various high-end capabilities’
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Divisions emerge as Europe plots to end Russian oil imports
As German exports to Russia hit two-year low
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Germany struggles to wean itself off Russian energy
Amid fears of job losses, hits to production and shutdowns
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Russian invasion to permanently shake up European energy policy
‘Investors need to be more selective as stocks become more expensive’ says Lombard Odier Private Bank CIO
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EU moves to reduce reliance on Russian gas by 2030
It has outlined price regulation, state aid, and tax measures
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European nations seek to shift energy dependence
But it could slow decarbonisation efforts
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Oil reserves released to tackle rising prices and inflation
Only the fourth time such a decision has been taken since 1974
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Brent crude falls slightly after topping $80 a barrel
Rise has mirrored that of the OPEC basket price