ReportedShipping, energy & marketsEuropean Union
Spain, Portugal and Luxembourg urge EU to set a 2040 renewable-energy target
- Mountain Time
- Local time
- 2:30 PM UTC
- Where
- European Union
Spain, Portugal and Luxembourg urged the European Union to establish a renewable-energy target for 2040, citing the Strait of Hormuz blockage and Europe’s reliance on imported fossil fuels.
Why it matters
The proposal seeks to accelerate investment away from imported oil and gas as Hormuz disruption constrains energy supplies.
Source
- OilPrice.comoilprice.comPublished
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