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The European Commission (EC) considers the Energy Taxation Directive (ETD) (2003/96/EC) is outdated and not in line with European Union energy and climate policy, according to an evaluation report released by the EC.

The ETD lays down rules for the taxation of energy products used as motor or heating fuels and electricity. It also estates minimum tax rates for such products in the European Union.

The EC carried out an evaluation of the ETD to look at the performance of the Directive against the basic principles of relevance, effectiveness, efficiency, coherence and EU added value. According to the EC, the current rules do not contribute to the new EU regulatory framework and energy and climate policy objectives. The EC highlights the extensive use of optional tax exemptions in the EDT, has led to too much discrepancy between national tax rates and the minimum rates. This undermines the unity of the single market and the liberalisation of the energy markets. The non-harmonisation of national taxes for the same fuels has led to market distortions. As a consequence, a relocation of the consumption of motor fuels and heating fuels can be witnessed, especially in frontier areas between the Member States.

Back in 2011, the EC had already proposed a reform on the ETD to link energy content and CO2 emissions of energy products when establishing the minimum taxation rates. Although the European Parliament and the European Economic and Social Committee received the proposal positively, Member States could not settle on the main political aspects of it. Negotiations rolled down for four years until the EC withdrew its proposal.

Indian state-owned Oil and Natural Gas Corporation (ONGC) announced it will invest more than INR130bn (US$1.8bn) in exploring oil and gas by drilling over 220 wells across Assam State (northeastern India) in the next five years. The company has concluded an agreement with the State Government for enhancing its exploration and production activities in Assam. …

Eni and BP have connected to the national grid the first well out of six at the Baltim South West gas field. The connected well has a production capacity of 517 mcm/year (18.25 bcf/year). The companies expect production of the field to reach 5.17 bcm/year (182,5 bcf/year) during the fiscal year with this connection.

The Regulatory Authority for Energy (RAE) of Greece has announced it has launched two new Competitive Bidding Procedures for 225 MW of wind and 287 of solar capacity additions.

According to «The Growing Market for Clean Energy Portfolios» report by the Rocky Mountain Institute (RMI), renewable energy sources and energy storage systems (ESS) have become cheaper than most proposed gas-fired power plant projects (US).

Pars Oil and Gas Company (POGC) has granted a US$440m contract to Petropars to develop the 5.2 bcm/year (182.5 bcf/year) Belal gas field in the east of South Pars in the Persian Gulf (Iran). Petropars will drill eight wells, will build a wellhead jacket, a platform, and a 20 km submarine pipeline.

Two major thermal projects have been announced in Iraq, the reconstruction of the Baiji 1 and Baiji 2 (1.6 GW) gas-fired power plant and the third phase of the Besmaya gas-fired power plant (1.5 GW). …

Valero Energy and Darling Ingredients are planning to develop a biorefinery in Port Arthur, Texas (USA), through a 50/50 joint venture called Diamond Green Diesel Holdings. The facility would produce 1,514 million litres of biodiesel annually and 151 million litres of naphtha.