Tuesday , 16 December 2025

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Diesel crisis likely to stay unfixed by oil refining revival

  Bloomberg A wave of new oil refining capacity that’s coming on stream won’t be enough to solve a global shortage of diesel, jet fuel and similar petroleum products. That’s the takeway from the Paris-based International Energy Agency’s (IEA’s) monthly report, which shows that increased processing — as new plants come online — this year and next will fall well …

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Gazprom agrees to supply only 50% gas to Italy’s Eni

  Bloomberg Eni said Gazprom will supply only 50 percent of Italy gas requested for June 17. Eni has submitted a daily gas demand for approximately 63 million cubic meters, the Italian company said on its website. Actual delivered volumes almost unchanged with respect to the amounts. Italian Energy Minister Roberto Cingolani’s office has said the country is not facing …

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Solar power floods Europe’s grids

  Bloomberg Europe’s biggest economies are seeing near-record amounts of solar power as a heat wave spreads across the southwest of the continent, boosting demand for electricity to keep people cool. Solar met almost a quarter of all energy demand in five of Europe’s biggest power markets. The surge in electricity supply did little to ease rising prices that are …

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Norway gasoline prices hit $10 a gallon

  Bloomberg While US drivers despair over gasoline topping $5 a gallon, spare a thought for motorists in oil-rich Norway, where prices sit at $10. Gas stations in Oslo were selling the unleaded fuel for about 27 kroner a liter, or about $10.30 a gallon, on Friday. That makes it the most expensive European country to fill up and second …

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Global energy crunch making gas too pricey for Asia

  Bloomberg A breakneck rally in Asian natural gas spot prices is forcing some importers to halt plans to buy additional shipments of the power plant fuel. North Asia spot liquefied natural gas (LNG) prices are surging towards $40 per million British thermal units, the highest in over three months, on fears of a global supply squeeze, according to traders …

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Cathay continues to see pilot exodus as it tries to hire more

  Bloomberg Cathay Pacific Airways Ltd continues to experience a very high rate of pilot resignations, and may improve allowances and benefits to appease crew who took deep pay cuts to help Hong Kong’s flag carrier navigate its way through the city’s Covid-19 crisis. “We still have resignation rates at much higher levels than we’ve historically had,” Chief Operations and …

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Boohoo mulls charging UK shoppers for returns

  Bloomberg Boohoo Group Plc is considering charging customers to send back garments as an increasing rate of returns crimps sales at the fast-fashion retailer. The British firm, whose business is purely online, is looking at returns across all markets, Chief Executive Officer John Lyttle said, at a time when many retailers are trying to manage logistics costs. While Boohoo …

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London’s Gatwick to cut flights in summer over staffing woes

Bloomberg London Gatwick airport said it will scrap hundreds of flights over the peak summer travel period, hours after Amsterdam’s Schiphol hub took a similar step, as the aviation industry’s staffing crisis deepened. Gatwick, Britain’s second-busiest airport, will limit airlines to 825 flights a day in July and 850 a day in August, from a pre-pandemic peak of around 950 …

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Tesco UK sales drop as cost of living weighs on shoppers

Bloomberg Tesco Plc said shoppers are buying fewer items and trading down to cheaper own-brand versions of staples in an “incredibly challenging” market hit by the worst inflation in 40 years. Britain’s biggest supermarket chain reported a greater-than-expected 1.5% decline in comparable UK sales in the first quarter, in fresh evidence of how rising prices are changing shopping behaviour. “Inflation …

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