Bloomberg India defended its use of fossil fuels citing energy security priorities, even as the country vowed to remain committed to decarbonisation. The country, one of the world’s largest producers of coal, has often countered demands to curb use of the dirtiest fossil fuel, arguing it is key to its energy security and economic development. The war in Ukraine saw …

  Bloomberg Hungarian refiner Mol Nyrt is in talks to use Croatia’s oil pipeline network as it works to wean itself off Russian supplies, according to a senior company executive. “Our intention at the moment is to clearly develop the alternative possibilities,” Peter Ratatics, Mol’s 40-year-old executive vice president for consumer services, said in an interview. “In a conflict zone, …

Bloomberg Britain faces the bleakest two years of any major industrial nation with a recession in 2023 and the slowest growth of peers in 2024, the International Monetary Fund predicts. The UK will be the only Group of Seven member whose economy will shrink this year, with a contraction of 0.6%, the IMF said. That makes Britain’s outlook even worse …