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2026-10-19T19:58:16.456Z

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22 Hrs2026-10-19T12:54:14.822Z
Saudi market stabilizes with incentives
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EU loosens Arctic oil and gas rules

EU loosens Arctic oil and gas rules

The draft European Union strategy states that it is easing its opposition to oil and gas extraction activities in the Arctic. It no longer explicitly calls for a halt to new exploration and drilling operations, responding to pressure from Norway, which has resumed its mining and energy activities in the region. The document emphasizes balancing environmental protection—by seeking to develop an international framework to prevent harmful development of polar resources—and maintaining its goal of reducing emissions by 90% by 2040. It favors renewable energy sources and diesel outside the Arctic. Additionally, it reaffirms opposition to deep-sea mining until scientific studies are completed to assess its environmental impacts. These changes occur within the context of ongoing Norwegian policies of Arctic exploitation, despite the fact that implementation has not yet begun.

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