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Bloomberg The 700-meter wide pool of bubbling water in the Baltic Sea caused by the rupture of the Nord Stream gas pipelines points to a climate disaster. It’s the most visible of three major gas leaks emanating from the pipelines connecting Russia to Germany. Scientists are scrambling to work out just how much methane, one of the most powerful greenhouse …

  Bloomberg Shell Plc’s renewable energy division acquired Daystar Power, an off-grid services provider in West Africa, in its first acquisition of a power firm on the continent. The takeover, which awaits regulatory approval, will enable Shell renewable and energy solutions business to deliver carbon emission reductions and power cost savings to commercial and industrial businesses across Africa, according to …

  Bloomberg Oil reversed course as the dollar shed some of its strength and risk-on sentiment lifted equity markets. The global oil benchmark rose 1% to trade near $87 a barrel on Monday. Earlier, Brent slipped below $85 a barrel and West Texas Intermediate falls below $80 as the dollar hit an all-time high, which makes commodities priced in the …

Bloomberg Natural gas prices in Europe headed for a fourth weekly loss, as ample supplies of liquefied natural gas (LNG) help countries fill reservoirs days ahead of the start of the heating season. Dutch front-month gas, the European benchmark, declined as much as 6%, and are on pace for a drop of about 5% this week. While prices have eased …

Bloomberg The German government is planning to inject about 8 billion euros ($8 billion) into Uniper SE as part of a historic agreement to nationalise the gas giant and stave off a collapse of the country’s energy sector. Uniper confirmed it is in final discussions with the government over a package that would include an 8 billion-euro capital increase, subscribed …

  Bloomberg France denied a report that it’s considering cutting power exports to Italy, saying it’s committed to maintaining power supply to its European neighbours. France “reaffirms its commitment to reciprocal solidarity regarding gas and electricity with all our European neighbours,” the energy transition ministry said in a statement. “Fully functioning electric interconnections are a priority for collective supply security.” …

Bloomberg Germany is taking control of Russian oil major Rosneft PJSC’s German unit, including stakes in three oil refineries, as Chancellor Olaf Scholz reacts to the unprecedented energy crisis sparked by the invasion of Ukraine. Grid regulator BNetzA will become trustee of RN Refining & Marketing GmbH and Rosneft Deutschland GmbH, which account for around 12% of Germany’s oil processing …

  Bloomberg Germany is increasingly getting vital chemicals from abroad as the country’s industrial giants like BASF SE struggle with sky-rocketing energy prices from Russian gas cuts. Chemical import volumes have almost doubled this year as the crisis deepened. Germany imported around 2.8 billion tonnes of inorganic chemicals in the first half of 2022, according to Germany’s federal statistics office. …

Bloomberg Gazprom PJSC said it will shift its contract to supply gas to China to rubles and yuan from euros, as the Kremlin steps up efforts to move trade out of currencies it considers “unfriendly” amid US and European sanctions. The state-run gas giant signed an additional agreement to its existing contract with China National Petroleum Corp on the issue, …

Bloomberg The UK Treasury and Bank of England launched a £40 billion ($46 billion) fund to provide energy traders liquidity to deal with massive margin calls, joining a list of European states taking dramatic action to prevent the energy crisis becoming a “Lehman” moment. The so-called Energy Markets Financing Scheme will provide stability for energy and financial markets, and help …