Energy crisis news in Portugal

“This is not our war”? It is not quite like that

The Ormuz blackout

European Council. Montenegro supports joint gas purchases and strengthening European refining

The Prime Minister states that the problem with fuel prices lies not in oil purchasing markets, but in the price formation of the fuels themselves. At the end of the European Council, Luís Montenegro stated that Brussels is studying a joint approach to address the increase in gas prices.

6 PM. Prime Minister reveals European plan for the energy crisis

Luís Montenegro says there is a consensus in the European Council to face the difficulties. Furthermore, António José Seguro argues that the EU should consider dropping the unanimity rule.

António Costa advocates for a coordinated response between countries to the energy crisis

“The European Union is working on a coordinated response,” added the leader of the institution that brings together the heads of State and Government of the EU.

European leaders gathered in Brussels debate energy crisis, community budget and support for Ukraine

The European Council will ask the Commission to present more measures to respond to the energy crisis, stated a senior European official.

Energy crisis to be a topic at the European Council until Friday in Brussels

The energy crisis is set to be discussed at the European Council in Brussels until Friday.

Energy shock could stall 440,000 jobs in the EU by 2026, says Brussels

The energy shock caused by the conflict in the Middle East could hinder the creation of 440,000 jobs in the European Union by 2026, particularly in the transport, agriculture, and construction sectors, according to a report published today by the European Commission.

Iberian wholesale electricity price is the third most expensive ever in autumn

The price of electricity in the Iberian wholesale market is recording one of the most expensive periods in its history this autumn, according to calculations by the EFE agency, at a time of increased use of gas-fired power plants. According to these data, which are based on information from the Iberian market operator OMIE, this beginning of the meteorological autumn...

"Many companies do not see electricity as the path for transition," says Galp co-CEO

The transition from fossil fuels to clean energy continues to face resistance from a significant range of Galp's partner companies. Meanwhile, there are warnings that the ongoing energy crisis “will get worse” going forward. These and other topics were debated at the “Banking and Business: Who leads the transformation?” panel, held at the Money Conference in Cascais. Galp Energia Co-CEO Maria João Carioca noted that many companies do not see electricity as an immediate solution. Marco Galinha of Grupo BEL described the energy crisis as the worst ever, while Jorge Rebelo de Almeida (Vila Galé) emphasized the need for construction to address the housing crisis. Ana Carvalho of Caixa Geral de Depósitos highlighted the bank's commitment to balancing investment risks and personal service.

IMF says AI and energy crisis pull world economy in opposite directions

The director of the International Monetary Fund (IMF), Kristalina Georgieva, stated today in Singapore that artificial intelligence (AI) is boosting global demand, while the energy supply crisis is exerting downward pressure on the economy.

IMF says AI and energy crisis are pulling the global economy in opposite directions

Georgieva stated that a 'positive demand shock' resulting from AI and a 'negative energy supply shock', due to the war in the Middle East, are pulling the global economy in two opposite directions.

Energy price crisis may worsen in winter

Ursula von der Leyen called for action and reinforced the need to address the “structural problems” that leave Europe exposed to market volatility through a “targeted” response.

Montenegro calls for a “coordinated response” in the EU against the rising cost of living

Luís Montenegro highlighted that the “energy crisis due to international conflicts” in which the European Union is not involved “is having a serious impact on the lives of Europeans”

Brussels warns that energy crisis may worsen in winter and demands support for vulnerable families and industries

The European Commission warns that rising energy prices are putting pressure on households and businesses, with the situation expected to deteriorate during the winter. Commission President Ursula von der Leyen highlighted that fossil fuel import costs have surged by over 100 billion euros since the start of the war, urging member states to implement targeted support measures rather than broad subsidies. Additionally, von der Leyen cautioned against deep cuts to the long-term EU budget for 2028-2034, arguing that such reductions could compromise key priorities like defence, innovation, and cohesion.

Nothing good on the horizon

It is impossible to make predictions in such a restless world.

António Costa applauds G7 response to energy crisis

António Costa praised this Friday the G7's decision to release up to 100 million barrels of oil to the markets and reject restrictions on energy exports.

EU ambassadors meet this Friday to discuss energy crisis

The European Commission warned this Friday that a ban on diesel exports, considered by the United States, “would benefit no one”.

Washington asks European countries to release part of their strategic fuel reserves

The United States and the European Union are in intense contact to try to respond to the fuel crisis, which continues to push oil and diesel prices to high levels.

Meloni implores von der Leyen to let countries overspend to battle energy crunch

Italy has fallen foul of EU overspending rules, which it wants relaxed to deal with higher energy costs.

3 PM Energy crisis: PM admits more support

The Prime Minister acknowledges the need for further financial aid to address the ongoing energy crisis.

October European Council to make decisions on the response to the fuel crisis

“The lack of coordination allows certain states to grant substantially larger support to specific industrial sectors,” stated Minister Maria da Graça Carvalho.

International Energy Agency admits to using more oil reserves

The International Energy Agency admits the possibility of tapping into more strategic oil reserves to alleviate supply shortages and warns that Europe will face a difficult winter.

Portugal asks Brussels for a more proactive response to the energy crisis

The Portuguese government is urging the European Commission to take more decisive action to address the ongoing energy challenges.

Jornal de Negócios30 Sept

Tax cuts, handouts and blind hope: Europe finds few tools to fight a coming energy crunch

European energy ministers gathered in Dublin had limited new ideas to protect against a winter of soaring power bills.

EU has already spent an extra 100 billion on fossil fuels since the start of the war

The European Union has exceeded 100 billion euros in additional costs this year for gas and oil imports due to its reliance on imported fossil fuels amid the energy crisis. European Energy Commissioner Dan Jørgensen stated that this dependency is unsustainable, noting that the EU is paying significantly more without receiving any additional energy. To mitigate this, the Commission is pushing for an accelerated transition to internally produced green energy, the electrification of the economy, and the strengthening of cross-border power grids to reduce exposure to volatile global markets.

Energy Minister calls for a "more involved" EU in the fuel crisis

The Minister of Energy requested today in Brussels that the European Union (EU) be “more involved” in the current fuel crisis, advocating for a coordinated community response that takes into account the different realities of the member states.