Sydney:12/24 22:26:56

Tokyo:12/24 22:26:56

Hong Kong:12/24 22:26:56

Singapore:12/24 22:26:56

Dubai:12/24 22:26:56

London:12/24 22:26:56

New York:12/24 22:26:56

Live Updates  >  Live Update Details

2026-05-29 13:33:19

[Norway Pressures EU to Lift Arctic Oil and Gas Drilling Ban, Using Hormuz Blockade as New Argument] (1) Norway is pressuring the EU to lift the new ban on oil and gas drilling in the Arctic region, which holds nearly two-thirds of Norway's oil and gas resources. The EU plans to announce a new Arctic policy by the end of September, and Norwegian politicians, civil servants, and lobbying groups are traveling to Brussels to try to influence the decision. (2) Although not an EU member state, Norway is the largest oil and gas exporter in Western Europe, and its continental shelf production meets about 30% of the EU and UK's natural gas needs. The blockade of the Strait of Hormuz provides Norway with a new argument, as the EU is increasingly reliant on Norwegian natural gas exports. (3) The core of the controversy lies in climate and the environment: the Arctic is warming three to four times faster than the global average, making it more vulnerable to exploration activities; expanding drilling will also hinder the energy transition away from fossil fuels. Critics argue that the short-term energy crisis is not sufficient justification for opening up Arctic drilling.

Real-Time Popular Commodities

Instrument Current Price Change

XAU

4539.78

44.19

(0.98%)

XAG

75.274

-0.343

(-0.45%)

CONC

87.76

-1.14

(-1.28%)

OILC

91.59

-0.81

(-0.88%)

USD

98.932

-0.077

(-0.08%)

EURUSD

1.1660

0.0001

(0.01%)

GBPUSD

1.3456

0.0001

(0.01%)

USDCNH

6.7632

0.0001

(0.00%)

Hot News