Drilling rig on the Schwarzbach-2(2.) well in the German state of Hessen
Outlook 2024: Germany rethinks its energy strategy amid European energy crisis
The consequences of Russia’s invasion of Ukraine have been particularly significant for Germany
European energy security and energy affordability has been thrust into sharp focus by the Russian invasion of Ukraine and the resulting loss of critical gas supplies that Eastern and Central European countries had come to rely upon. This has also come at a time when Europe was taking steps to respond to the challenges of climate change by making its energy supplies more sustainable by increasing the build-out of renewables, which have not yet been able to replace the need for hydrocarbons. Since the crisis began, supplies of Russian gas, which made up 45% of all gas imports in Europe, have dwindled by as much as 80% (according to the IMF). This sudden negative shift set off a domino effect,
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The administration is pushing for deregulation and streamline permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
