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Bloomberg European governments have allocated about 280 billion euros ($278 billion) in funding to cushion the impact of the energy crisis on households and businesses. The funding, calculated by Brussels-based Bruegel think tank, measures fresh allocations since September, and covers everything from subsidising tariffs for small businesses in Greece to direct payouts to consumers in Belgium. Some of the money …

  Dubai / Gulf Time HSA Group, Yemen’s largest private company, has announced a $1.2 million donation to support the United Nations’ (UN) efforts to avert a major humanitarian, economic, and ecological disaster in the Red Sea. The donation is the first committed by a private sector organisation. The FSO SAFER oil tanker is one of the world’s largest shipping …

­­­Bloomberg Russia’s crude shipments surged last week, recovering almost all of the previous slump. Seaborne exports to European buyers rose to the highest level since April, as some refiners continue to process barrels, even after Moscow’s invasion of Ukraine. Total flows rise to 3.41 million barrels a day in the period to August 19, vessel-tracking data monitored by Bloomberg show. …

Bloomberg PetroChina Co, the country’s biggest oil and gas producer, is weighing a plan to carve out its marketing and trading business and seek a separate listing, people with knowledge of the matter said. China National Petroleum Corp (CNPC), the state-owned parent of PetroChina, has asked external consultants to provide proposals on the feasibility of such a plan, said the …

  ­­­Bloomberg The globe is in the grips of a climate crisis as temperatures soar and rivers run dry, and yet it’s never been a better time to make money by digging up coal. The energy-market shockwaves from Russia’s invasion of Ukraine mean the world is only getting more dependent on the most-polluting fuel. And as demand expands and prices …

  Bloomberg RWE AG is investing more than it originally planned on building renewable energy capacity to make Europe more energy independent as a worsening crisis threatens the region’s economy. Germany’s biggest power producer plans to spend more than 5 billion euros ($5.2 billion), on green technologies this fiscal year, including wind, solar and batteries, as well as ramping up …

  Bloomberg Glencore Plc will return an additional $4.45 billion to shareholders in dividends and share buybacks after first-half profit more than doubled to a record thanks to surging coal prices. Glencore, the world’s top coal shipper, has been one of the biggest winners from the global energy crunch as demand surges for fossil fuels. The company’s sprawling trading business …

  Bloomberg Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive. The Italian oil and gas producer’s potential project would complement its $7-billion Coral-Sul FLNG platform moored off Mozambique’s northern coast that’s scheduled to …

Bloomberg The UK government won’t be able to insulate as many homes as planned before winter after it scaled back a £1 billion ($1.2 billion) boost to its flagship scheme to help some of the country’s poorest households curb their energy use. A plan was dropped to double the £1 billion of funding in the so-called Energy Company Obligation after …

Bloomberg European natural gas prices rose for a fourth consecutive session, with little clarity on future flows via a major Russian pipeline. While the Nord Stream pipeline is sending gas to Germany at a consistent rate of 40% of capacity following the end of maintenance on July 21, Russian President Vladimir Putin warned that this could decline to 20% if …