💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Europe may be on the verge of blackouts, Statoil warns

Published 05/16/2018, 11:47 AM
© Reuters.  Europe may be on the verge of blackouts, Statoil warns
CVX
-
EQNR
-
NG
-
EQNR
-
  • Europe faces power generation capacity shortages and may even risk blackouts without additional use of natural gas, Statoil (OL:STL) (STO -1%) warns.
  • “A severe shortage” in generation capacity is expected in the U.K., Germany and Belgium, says Tor Martin Anfinnsen, STO's senior VP for marketing and trading, and "it is very difficult to see that there is any other way of fixing that up to 2030 by other means than increasing gas-fired power generation. Not only through higher utilization of existing capacity but also adding new gas-based generation.”
  • "Will we have to see blackouts before you see a change in policies? That remains to be seen but we are getting dangerously close in many markets," Anfinnsen says.
  • Now read: When Football Players Practice Ballet: Chevron (NYSE:CVX) Stays On Its Toes In The Permian


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.