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CommodityOilPrice.com

Germany Misses Gas Storage Target as Prices Soar

Germany has missed its gas storage target for the start of winter. Now, the EU’s largest economy faces a difficult heating season as the European gas benchmark topped 100 euros per MWh last week and has stayed there since. Higher prices may turn out to be the smaller problem. A supply crunch would be worse. Every European Union member state has an obligation to secure enough natural gas ahead of…

CommodityOilPrice.com

Africa Launches Its Own Oil Bank as Western Lenders Retreat

Africa now has a bank built to finance the oil and gas projects Western banks and development lenders have dropped under their climate commitments. Afreximbank and the African Petroleum Producers’ Organization (APPO) formally established the Africa Energy Bank (AEB) at its inaugural general meeting in Abuja on October 31. That was more than four years after the two institutions began work on it…

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