• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 12 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 1 day Old - New Kim: Nuclear Negotiations With U. S. Will Never Resume Unless Washington Changes Its Position
  • 7 hours Theresa May to Step Down
  • 17 hours IMO 2020 could create fierce competition for scarce water resources
  • 1 day IMO2020 To scrub or not to scrub
  • 1 day India After Elections: Economy And Hindu Are The First Modi’s Challenges
  • 2 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 3 hours IRAN makes threats, rattles sabre . . . . U.S. makes threats, rattles sabre . . . . IRAQ steps up and plays the mediator. THIS ALLOWS BOTH SIDES TO "SAVE FACE". Then serious negotiations start.
  • 2 hours Total nonsense in climate debate
  • 1 day Devastating Sanctions: Iran and Venezuela hurting
  • 1 day Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 228 days Epic Fail as Solar Crashes and Wind Refuses to Blow
  • 1 day Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
Alt Text

The 2 Energy Giants Reshaping The Middle East

Typical crude oil producers such…

Alt Text

OPEC+ Top Priority: Don’t Crash Oil Prices

OPEC+ is reportedly considering increasing…

Alt Text

Headline Hysteria Suggests Tesla Reversal

There’s been good reason to…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Trending Discussions

Italy Looks To Block Oil, Gas Exploration Permits

Italy plans to suspend the issuing of 36 pending oil and gas exploration permits, as the government finds upstream oil and gas activity not of strategic importance to the country.

At the same time, the ruling populist coalition government, in power since June 2018, is looking to significantly boost the share of renewable energy in Italy’s power mix and total energy consumption, including in the transportation sector.

The current government strongly supports Italy’s push to have as much renewable energy in its energy consumption as possible. The previous government also backed the rise of renewables and drafted a strategy to phase out coal-fired electricity by 2025. The new government is keeping the targets of the previous cabinet and has even increased some of the clean energy targets for Italy’s energy consumption and generation, in a bid to cut more carbon emissions in the country.

The government has drafted an amendment to legislation proposing to block the issuing of oil and gas drilling permits, Italy’s Industry Ministry said in a statement on Wednesday, noting that the proposal would be discussed in the next few days at the relevant committees in Parliament.

The proposed legislation would halt the issue of a total of 36 drilling permits, including three permits that have already been issued for drilling in the Ionian Sea, Industry Undersecretary responsible for energy, Davide Crippa, said.

Italy—Europe’s fourth-largest energy consumer—is heavily dependent on imports to meet about 93 percent of its oil and natural gas needs.

Italy is estimated to be currently producing just 7.5 percent of its natural gas demand, while its domestic oil production accounts for only 7.3 percent of demand.

Related: The 3 Continents Driving Global Energy Demand

The country imports most of the oil it needs, and has the second-largest refining capacity in Europe, second only to Germany. According to Oil & Gas Journal data quoted by the EIA, the total refining capacity in Italy is just over 2.1 million bpd from 13 crude oil refineries.

In natural gas, Italy ranks second in terms of natural gas imports in Europe after Germany, and it is Europe’s third-biggest consumer of natural gas after Germany and the United Kingdom.

Italy’s previous government unveiled at the end of 2017 a new national energy strategy aiming to phase out coal in electricity generation by 2025, and significantly boost the share of renewables in total energy and electricity consumption.

In the framework document drafted by the ministries of economic development and environment, Italy planned to have 28 percent of its total energy consumption covered by renewable energy sources by 2030, compared to 17.5 percent in 2015. The target for renewables in electricity generation is to achieve a share of 55 percent by 2030, up from 33.5 percent in 2015. In the transportation sector, Italy targets renewables at a 21-percent share by 2030, versus 6.4 percent in 2015.

The current government has a more ambitious target for renewable energy in the total final energy consumption—30 percent by 2030, according to the latest national plan on energy and climate published at the end of 2018.

In 2017, according to the latest available annual figures, some 35 percent of Italy’s electricity production came from renewable energy sources. Of the renewable energy sources, hydropower accounted for 35 percent, solar power represented 23 percent, bio-energy had a 19-percent share, wind energy accounted for 17 percent of all renewable energy-generated electricity, and geothermal energy accounted for 6 percent of the renewable share of the power mix.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News