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Russian energy: Europe scrambles to reduce its dependency

FRANKFURT, Germany (AP) — Europe is scrambling to reduce its dependence on Russia for energy and bracing for potential disruption to critical natural gas supplies as Russia's war in Ukraine sends pric...

Nations agree to release 60M barrels of oil amid Russian war

FRANKFURT, Germany (AP) — The International Energy Agency's 31 member countries agreed Tuesday to release 60 million barrels of oil from their strategic reserves — half of that from the United States ...

EXPLAINER: What does Ukraine invasion mean for energy bills?

FRANKFURT, Germany (AP) — Even as gunfire sounded in Ukraine's capital, natural gas kept flowing normally Friday through the major pipelines from Russia to Europe. But the invasion and accompanying sa...

EXPLAINER: What is the Russia-Europe Nord Stream 2 pipeline?

FRANKFURT, Germany (AP) — German Chancellor Olaf Scholz has suspended the certification process for the Nord Stream 2 natural gas pipeline after Russia recognized separatist-held regions in eastern Uk...

Germany's Siemens sees profit up 20%, raises dividend

FRANKFURT, Germany (AP) — Germany Siemens AG, global maker of big-ticket machines and industrial equipment and software, saw net profit rise 20% to 1.8 billion euros in the last three months of 2021 a...

EXPLAINER: What's Russia's Nord Stream 2 pipeline to Europe?

FRANKFURT, Germany (AP) — U.S. President Joe Biden has threatened to block the Nord Stream 2 natural gas pipeline if Russia invades Ukraine. The undersea pipeline directly links Rus...

European Central Bank head: Inflation may linger for longer

FRANKFURT, Germany (AP) — The head of the European Central Bank said record inflation could linger for “longer than expected” and avoided repeating that an interest rate increase was all but ruled out...

Caution from OPEC+ producers to keep oil prices high

FRANKFURT, Germany (AP) — Oil cartel OPEC and allied producing countries are sticking with cautious increases in the amount of oil they send to the global economy, a decision likely to support prices ...

Deutsche Bank sees biggest annual profit in a decade

FRANKFURT, Germany (AP) — Deutsche Bank said Thursday it reaped its best annual profit in a decade in 2021 and put most of the costs of its wrenching, years-long restructuring behind it. The bank unde...

EXPLAINER: How Europe is trying to deal with its gas crisis

FRANKFURT, Germany (AP) — Europe’s natural gas crisis isn't letting up. Reserves are low. Prices are high. Utility customers are facing expensive bills. Major Russian supplier Gazprom isn't selling ga...

Energy monitor blames Russia for worsening Europe gas crisis

FRANKFURT, Germany (AP) — The head of the International Energy Agency blamed Russia for worsening Europe's natural gas crisis, saying Wednesday that high prices and low storage levels largely stem fro...

OPEC, allies keep gradually pumping more oil amid omicron

FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries decided Tuesday to pump more oil to the world economy amid hope that travel and demand for fuel will hold up despite the rapid spread ...

Europe's shared notes and coins turn 20 at New Year's

FRANKFURT, Germany (AP) — The European Central Bank is celebrating the 20th anniversary of euro notes and coins as member countries wrestle with the pandemic's impact on the economy and the European U...

European Central Bank to taper pandemic stimulus, but gently

FRANKFURT, Germany (AP) — The European Central Bank decided Thursday to avoid an abrupt end to its pandemic crisis support for the economy as the new omicron variant of COVID-19 stirs uncertainty abou...

Europe's central banker: Not adding to pinch with rate hike

FRANKFURT, Germany (AP) — The head of the European Central Bank warned that high oil and gas prices are hitting consumers in the 19 countries that use the euro harder than in other major economies and...