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Vienna International Energy Industry News
Read the latest headlines about developments in the international energy industry in Vienna and Austria
Think Tank: Concerns About EU Sanctions Against Russian Oil and Gas
For some time now, the business community has been complaining about the lack of information on how gas and oil will be distributed sensibly in the event of a supply freeze from Russia. The Austrian Economic Research Institute (WIFO) is also concerned about the future of the energy supply and discusses possible solutions.
May 29, 2022
Austrian Exit From Russian Gas Possible: "Major Effort Necessary"
The exit from oil and gas supplies from Russia, which has been much called for at both national and international level, has been occupying the EU and also the Austrian government for weeks. Now the Austrian Energy Minister has presented a plan on how this planned phase-out can be achieved by 2027 and what concrete measures need to be taken to achieve it.
May 19, 2022
"Presidency at a Decisive Stage": Czech Republic Receives Austrian Federal Chancellor
Discussions on the Ukraine crisis, the EU's enlargement of the Western Balkans or the benefits of nuclear power in the energy transition led Austria's Federal Chancellor to the Czech Republic, where he met Petr Fiala, the Czech Prime Minister. The Czech Republic is one of Austria's closest trading partners in Central and Eastern Europe. Read on to find out how the Chancellor's visit went.
May 19, 2022
How China's Global Infrastructure Strategy Undermines European Integration in the Western Balkans and Beyond
The accession of the Western Balkans countries into the European Union continues to be a topic of debate amongst the EU Member States. Read how China's global infrastructure strategy may be undermining these countries' aspirations for EU membership.
May 19, 2022
War in Ukraine Continues to Dominate Austria's Economic Outlook
In a recently published report, the Austrian Institute of Economic Research (WIFO) gives an insight into Austria's economic situation and forecasts the development of the economy over the next few years. The Omikron wave and the war in Ukraine will continue to slow down Austria's economic growth in the next few years and no relief is expected for the time being. Nevertheless, there is also good news concerning the labour market.
May 12, 2022
Iran Nuclear Talks: EU Tries To Revive the Negotiations
European officials are trying to save the Iran nuclear deal. To find a solution to the months-long standoff between Tehran and Washington, EU coordinator Enrique Mora is scheduled to visit Tehran. Read about the newest developments in Iran and the JCPOA.
May 8, 2022
Austria and the Indecision for the Gas Embargo
The war in Ukraine has been raging for two months. To stop Russia, a great many countries have imposed tough sanctions on Russia. Many European countries and the U.S.A. want to impose a gas embargo on Russia. Austria is still very cautious about this step.
May 3, 2022
Russian Gas Supplies: Wien Energie Invests One Billion Euros in Gas Exit
Austria's largest energy company, Wien Energie, is taking a big step towards independence from Russian gas supplies. The company is investing a sum of one billion euros in the expansion of renewable energies and thus wants to end the purchase of fossil fuels step by step in the next 5 years.
May 2, 2022
Austria Could Be Independent of Russian Gas by 2027
In order not to be further dependent on gas supplies from Russia, the Austrian energy minister is planning to phase out Russian gas by 2027. Since Austria is enormously dependent on Russian suppliers, it is not possible to do without imports in the short term. If you want to know what measures Austria will strive for, read on.
April 27, 2022
IAEA’s First International Conference on Nuclear Law
The IAEA currently hosts the world's top experts on nuclear law to examine the current nuclear law framework in the changing landscape of technology, opportunities, and challenges. Read more about the importance of the First International Conference on Nuclear Law.
April 26, 2022
IAEA on the Current Status of Ukraine's Nuclear Security
The Russian aggression on Ukraine threatens Ukraine's nuclear security. A watchful IAEA is monitoring the situation very closely and expressed concern.
April 22, 2022
IAEA Director-General Chief Grossi Will Lead Assistance Mission to Ukraine’s Chernobyl Nuclear Power Plant
The Russian war of aggression in Ukraine threatens the country's nuclear security. The country has many nuclear power plants and Russian troops were entrenched in Chernobyl until a few weeks ago. To maintain nuclear safety efforts at Chernobyl, Rafael Mariano Grossi, Director-General of the IAEA, will lead an assistance mission to Ukraine’s Chernobyl Nuclear Power Plant.
April 22, 2022
6.8% Inflation: How Private Households are Affected by Rising Prices
Inflation in Austria remains historically high and is pushing many households to their limits. Whether it's high gasoline prices or horrendous living costs, everyone is feeling the inflation. How the average household is affected by these problems and what impact they have on lower-income households, read here.
April 20, 2022
IAEA Conference on Enhancing the Sustainability of Nuclear Energy
The IAEA is currently holding a conference about enhancing the sustainability of nuclear energy. In the course of the green energy debate, nuclear energy is seen as playing an important role in a low-carbon future.
April 20, 2022
International Day of Human Space Flight: The Importance of Space
Today is the International Day of Human Space Flight. This day celebrates each year the beginning of the space era for mankind. Space travel and space could help humanity tame the challenges ahead. Read more about this day.
April 12, 2022
EU Commissioner For Energy in Vienna
The Russian invasion of Ukraine shook global energy markets. The EU Energy Commissioner is in Vienna on Monday and Tuesday to discuss the EU's energy outreach in the context of Russia's military aggression against Ukraine.
April 11, 2022
Russian Aggression Against Ukraine Provides Opportunity Against Climate Change
The Russian Invasion of Ukraine has challenged many old structures globally. One of those structures is the energy infrastructure of Europe. The Russian Aggression has put Europe in an energy crisis. This crisis could give momentum to combat climate change.
April 11, 2022
Due to the Ukraine War: Austrian National Bank Still Expects Huge Inflation in 2022
Shortages of raw materials and high energy prices, triggered by the Russian war of aggression in Ukraine, have led to an increased inflation rate of 5.6% in Austria. After the highest measured inflation rate in March 2022 since joining the monetary union, there is no easing now; this is not expected until 2023.
April 11, 2022
Russo-Ukrainian War - EU Adopts Fifth Sanctions Package to Put Pressure on Russia
Recently, new sanctions against the Russian state were published. The EU is trying to put economic pressure on the Kremlin and cut off the sources of financing for the invasion of Ukraine. What new measures are taken, you can read here.
April 8, 2022
Europe's Energy Dilemma Requiring Austria and Germany to Rethink in Wake of Russian Aggression
Due to the Russian aggression against Ukraine, Europe has to face new questions about energy policy, which had been known for many years but were largely ignored and deferred. The much-discussed gas embargo in recent weeks is to further intensify the sanctions against Russia and its economy. Read more about the current situation.
April 6, 2022
Iran Blames U.S. for Stalemate in Vienna Nuclear Talks
The Islamic Republic of Iran blames the U.S. for a stalemate in the renewed JCPOA talks in Vienna. Iran accuses the demands of the U.S. as extravagant and exaggerated.
April 5, 2022
OPEC Secretary General Barkindo to Become Distinguished Fellow of the Atlantic Council
Mohammad Sanusi Barkindo, the Secretary General of OPEC, was recently awarded a Distinguished Fellow of the Atlantic Council. Find out what he said about his organisations headquarter location and about a speech he gave at the Diplomatic Academy of Vienna.
April 5, 2022
Economic Outlook for Austria: The Kremlin's Aggression against Ukraine is a Game Changer
After a few tough years in which the Covid-19 virus shaped the Austrian economy, a new enormously important factor is coming into play - the war in Ukraine. The Russian aggression led to more pessimistic economic outlook and will still play an enormous factor in the Austrian market in the future.
April 4, 2022
IAEA Director Traveled to Ukraine Regarding Nuclear Safety
Ukraine is ravaged by war and the Russian Invasion threatens due to the fighting the nuclear safety in the eastern European country. IAEA Director-General, Rafael Mariano Grossi, traveled to Ukraine for talks with senior government officials on the planned assistance by IAEA to ensure the safety and security of the country’s nuclear facilities.
March 31, 2022
Space Diplomacy: The Annual Session of the COPUOS Legal Subcommittee
Space is an important future avenue for exploration, research, and commerce. This makes it all the more important for the nations of the world to negotiate these unlimited possibilities and to work out cooperation through diplomatic channels. One of them is the Committee on the Peaceful Uses of Outer Space (COPUOS) of the United Nations Office on Outer Space Affairs (UNOOSA). The COPUOS organizes a Legal Subcommittee which is held this week.
March 30, 2022
NATO and EU Military Committee Meet Regarding Western Balkans
A joint meeting of the NATO Military Committee and the European Union Military Committee was held to discuss the current security situation in the Western Balkans as well as the EU's ongoing Operation Althea. In the context of the Russian military aggression on Ukraine, stability in the Balkans increases in importance.
March 29, 2022
Nehammer at EU Summit: Russia Sanctions and Western Balkans Support
The EU summit, which was also attended by U.S. President Joe Biden, focused on the political crisis caused by the Russian invasion of Ukraine. Austrian chancellor Karl Nehammer attended the European Council too and expressed the importance of stability in the Balkans. Read about the European Council and the chancellor's visit to Brussels.
March 28, 2022
Austria Kicks Off Detachment Process from 80 Percent Dependence on Russian Gas
In order to no longer be dependent on Russian gas imports, the Austrian federal government decided on a new stockpiling of natural gas. This is to provide for the case of an import stop from Russia. Despite the high level of approval, the proposal has nevertheless come in for criticism.
March 25, 2022
Austrian President Tells Brussels: EU Force and Zelenskyy Speech Conform with Neutrality
At meetings between the EU leaders and Alexander Van der Bellen, the President spoke about Austria's role as a neutral state in military and political matters. He saw no difficulties in inviting the Ukrainian president to Austria or in participating in the EU armed forces. The need for new energy suppliers and the current refugee problem were also discussed.
March 24, 2022
Austria Enhances Bilateral Economic Relations with Conflicting Neighbors India and Pakistan
The initiative ReFocus Austria, accompanied by Austria's Foreign Minister Alexander Schallenberg, visited the emerging republics of Pakistan and India in recent days. The aim of the trip was to establish economic relations and promote mutual investments. Read on if you want to know which sectors are in particular demand.
March 23, 2022
Belgian Heads of State Welcomed Austrian President and First Lady
Alexander Van der Bellen is currently on a state visit to Belgium. Besides a reception with King Philippe and Queen Mathilde the program included talks on the war in Ukraine and high energy prices with senior Belgian politicians and EU Commission President Ursula von der Leyen.
March 23, 2022
Ukraine Nuclear Power Plants Still Under Control of Russian Forces But Safety Systems Fully Functional IAEA Says
Ukraine's Nuclear Power Plants Zaporizhzhya and Chernobyl are still under Russian control, but regulator said, that the Ukrainian staff continued to operate the plants. In the case of the Chernobyl Nuclear Power Plant, staff have not been able to rotate for more than three weeks.
March 18, 2022
Putin's War Forces OMV to Make Most Fundamental Strategic Shift in Its History
Russia's aggression toward Ukraine is forcing OMV, the Austrian oil, gas and petrochemical group to take drastic measures. The company's management decided to stop all investment activities in Russia and to rely on alternative suppliers in the future. OMV thus joins many other companies that are slowly turning their backs on the Russian market.
March 17, 2022
Energy Supply: Liquefied Natural Gas from Qatar, Instead of Pipeline Gas from Russia
Chancellor Nehammer visited the United Arab Emirates (UAE) and Qatar with the intention of lessening Austria's dependency on Russian natural gas for energy. Read about the chancellor's visit and how liquefied natural gas could help solve this issue.
March 11, 2022
How Gazprom Helps the Kremlin to Manipulate Austria
The Russian government uses the majority state-owned energy corporation Gazprom to exploit Europe's dependency on Russian natural gas, and Austria is no exception. Read how the Kremlin uses Gazprom to influence Austria.
March 8, 2022
Russo-Ukrainian War: First Effects of Western Sanctions on Russian Economy
The Russian economy is already beginning to feel the effects of the Western sanctions for its invasion of Ukraine. Read what effects the sanctions are having on the economy.
February 28, 2022
Putin's People in Austria and Beyond
Following Putin's invasion of eastern Ukraine with the aim of regaining former Soviet territory, two former European prime ministers from Italy and Finland have already resigned from the supervisory boards of two Russian companies. However, some Austrian and German politicians see no reason to resign their mandates. In the following some explanations why.
February 25, 2022 · Updated: February 25, 2022; 11:23
Continued Strong Interdependence of Business between Russian, Ukrainian and Austrian Companies
Austrian businesses have established significant ties with those in Ukraine and Russia over the years. Read about the amount of business Austria does with each country and how the recent escalation of tensions could affect this.
February 23, 2022
Austria's Reaction to Putin's Disrespect for the Territorial Integrity and Sovereignty of Eastern Ukraine
Following President Putin's decision to recognize the independence of Luhansk and Donetsk in the Donbas region of Ukraine and to send "peacekeeping troops" to these areas, the Austrian government's Crisis Cabinet met to discuss how to respond. Read what Chancellor Nehammer said about the act of Russian aggression and what Austria will do.
February 22, 2022
Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies
The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.
February 8, 2022 · Updated: February 11, 2022; 08:35
IAEA to Assess Safety of Japan Dumping Fukushima's Radioactive Cooling Water into Sea
A team of experts from the International Atomic Energy Agency (IAEA) will go to Japan to conduct a review of the safety of the Japanese government's decision to dump radioactive cooling water from the Fukushima Daiichi Nuclear Power Station into the ocean. Read about the review and who opposes Japan's decision.
February 7, 2022
Austria Promises Legal Action After EU Commission's Nuclear Energy Decision
Austria has vowed to take legal action against the European Commission after it decided to include nuclear energy and natural gas as sustainable investments under the EU Taxonomy Regulation. Read what the Austrian president, chancellor, and climate minister said about this decision.
February 3, 2022
Opec and Non-OPEC Members Agree Further Gradual Increase in Oil Production
At the 25th OPEC and non-OPEC Ministerial Meeting (ONOMM), the oil-producing countries decided upon a gradual increase in oil production for March. Read about this and the other decisions made at the meeting.
February 2, 2022
Inflation in Austria: Government Approves Relief Package to Deal with Rising Energy Prices
Chancellor Nehammer and Vice-Chancellor Kogler held a summit with energy suppliers and assembled a relief package to help combat inflation. Learn what's in the relief package and who will benefit from it.
January 28, 2022
Expo 2020 Dubai: Austria's Youth Showcase Their Innovation
The four teams that won Austria's "Innovative Youth" competition will get to showcase their projects at the World Expo 2020 in Dubai. Read about the competition and what the winning projects were.
January 27, 2022
Brussels: Schallenberg Attends Ukraine Crisis Meeting of EU Foreign Ministers
Foreign Minister Schallenberg attended a meeting of the EU Foreign Affairs Council in Brussels. The meeting, which U.S. Secretary of State Antony Blinken also attended virtually, focused on the ongoing crisis between Russia and Ukraine. Read about the meeting and watch an interview with Foreign Minister Schallenberg.
January 26, 2022
Austria's Position on the Russia-Ukraine Conflict
Despite ongoing diplomatic efforts, tensions between Russia and Ukraine remain high as Russia still has thousands of troops stationed on the Ukrainian border. Read Austria's position on the issue.
January 22, 2022
Kazakh Foreign Minister in Vienna Promises Investigation into the Unrest
Foreign Minister of Kazakhstan Muchtar Tileuberdi met with Foreign Minister Schallenberg in Vienna, and the pair discussed the recent protests and violence in Kazakhstan. Read more about their discussion, and watch their joint press conference.
January 20, 2022
U.S. and EU Establish "Transatlantic Coordination" Against Russia
Europe and the U.S. are closing ranks in the face of feared Russian aggression against Ukraine. U.S. Secretary of State Antony Blinken and EU High Representative Josep Borrell are determined to "form a strong, clear and united transatlantic front," European Union External Action announced after a phone call between the two. According to the statement, they expressed their commitment to Ukraine's sovereignty, independence and territorial integrity.
January 16, 2022
OPEC: Kuwaiti Al-Ghais Succeeds Nigerian Barkindo as Secretary General
Mr. Haitham Al-Ghais of Kuwait was recently appointed as the next Secretary General of the Organization of the Petroleum Exporting Countries (OPEC). Read more about Mr. Al-Ghais, as well as the accomplishments of his predecessor Mohammad Sanusi Barkindo.
January 10, 2022
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